May 19th 2016



AnneMarieMurphy Tavistock Bow In The Know Spring2016 Anne-Marie Murphy | Director

The spring market got off to a rather busy start with a flurry of buyers pushing to complete their purchases before the end of March to avoid the rise in stamp duty, however since the beginning of April things have settled down again.


Overall, there remains a genuine demand for well priced property, although there are fewer enquiries over £2m and many asking prices being reduced prior to sales being agreed. According to London property database Lonres, the first quarter of 2016 saw 45% of properties sold in Prime Central London achieve less than 90% of their asking price, compared to 33% a year ago and 20% in the same period of 2014, the trend indicating the anticipated market ‘correction’ is well underway.


The Chancellor has introduced some fairly punitive measures aimed squarely at the buy-to-let market and the fall-out is yet to be felt, but our view is that the Central London market will be resilient and remain an attractive place to invest given its proven stability during uncertain times. The higher purchase costs and short term returns through rental yield and capital growth may not make it quite as attractive as it once was, but taking the longer term view, its still a highly desirable and convenient place to live with a limited supply of good quality homes continuing to underpin values.


We have seen a downturn in activity from foreign buyers, but at the same time a resurgence in interest from domestic buyers, particularly those looking for longer term secure investments, a central London pied-a-terre or those looking to house their children whilst they undertake their studies.


The gap between seller’s and buyer’s expectations seems to be narrowing and vendors are beginning to ask more realistic prices and consider sensible offers, that said, its still hard for buyers to drive a hard bargain.


We expect an small increase in values across the sub-£2m market of perhaps 3-4% over the coming year with limited supply and a reasonable demand, but higher value real estate may take longer to see a similar uplift.

Check out the spring edition of Tavistock Bow’s IN THE KNOW for further market insight and West End lifestyle features.

News, views and the word from the street
Mar 27th 2018

INTHEKNOW from TB_HQ | Edition 6 | Spring 2018

The latest copy of TB_HQ’s INTHEKNOW has hit the streets! Edition 6 focuses on Covent Garden, our favourite PIAZZA APARTMENTS WITH PIZZAZZ , the TB_HQ team suggest the hottest and coolest places to see and be seen in our regular WHATS HOT feature, and we get the inside track from 26 Grains founder, chef, author and…

Read More

Visit Us

31 Long Acre, Covent Garden, London WC2E 9LA

T: 020 7477 2177

E: hello@tavistockbow.com

affiliate logos
affiliate logos
London Rental Standard
©2021 Tavistock Bow | Terms of use | Cookies | Links