Given the prevailing political and economic uncertainty surrounding Brexit, it might come as a surprise to hear that the market for homes worth £1 million+ in prime central London is proving remarkably robust.

According to LonRes data, transactions in September were up 34 per cent on the same time last year and Q3 2019 was 13 per cent up on Q3 2018. 

What we’re seeing is London’s busy domestic market at work. For Londoners and buyers from overseas who have made their lives here, that life goes on. People who need to move continue to do so – for schools, to trade up or perhaps find somewhere with more space for a growing family. The capital’s fundamental appeal as a place to live and work remains unchanged.  

What has changed, however, is the day-to-day experience of buying and selling. Deals are taking more time. We are seeing longer chains that are harder to keep together particularly when there are many agents involved. In the past, people had the confidence to sell their home then wait, placing themselves in a good position to buy when the right house or apartment came along. Now buyers are more reluctant to commit and tend to delay putting their home on the market until they have seen somewhere they love, resulting in often frustrating chains. This calls for patience, goodwill and, above all, communication on all sides.

So, my advice to anyone thinking of moving? Don’t be put off by the uncertainty but do choose an experienced agent who can advise you every step of the way.

Further information

Search for properties for sale