Property consultancy Knight Frank has skilled a surge in gross sales exercise after the Autumn Price range passed off.
The agency is observing renewed confidence amongst some patrons who had beforehand adopted a wait-and-see method, leading to an uptick within the variety of presents acquired 24 hours after the announcement on 26 November.
Tim Hyatt, head of residential, Knight Frank, stated: “Our groups throughout London and the Nation exchanged on nearly £300 million of residential property this week.
“We noticed the variety of transactions greater than double when in comparison with the identical week in 2024, broadly pushed by pre-Price range fears over probably onerous tax adjustments, particularly rumours round capital good points tax on major residences which might have been massively damaging for the prime market.
“In the long run, the bark was worse than the chew. Weeks of hypothesis brought on extra disruption than the measures launched are prone to.
“With readability on future coverage adjustments, and downward stress on pricing in recent times, many dwelling patrons now see London and the broader prime nation market as one which is providing actual worth. For these which might be ready to take a mid to long run view, I consider this level within the property cycle, is an opportune time to behave.”
Offers exchanged this week embody a big lateral condo in a backyard sq. in Knightsbridge that had a information value of £25m.
