The prime West London property market has demonstrated strength, resilience, and stability following the recent general election. The election results have provided much-needed clarity, particularly boosting buyer interest in the mid to high-end market sectors. Notable areas such as Kensington and Notting Hill have experienced consistent and rising demand over the last month, with many family buyers now focusing on finding a new home with renewed vigour. We expect to see the market to grow steadily, bolstered by continued interest from both domestic and international buyers.

Many industry Q1 reports underscored robust demand in both sales and lettings, particularly in prime locations. Central London continues to attract international investors seeking long-term value. The lettings market is still seeing very high occupancy rates driven by limited supply and substantial demand. The technology sector has emerged as a significant source of new tenants, alongside finance professionals. Notably, EU tenants now account for over 50% of new lets. With a sustained period of rising demand, tenants are remaining in properties longer, and renewals at higher rents have increased.

The outlook for the coming months remains optimistic, with stable prices and sustained interest anticipated. Banks continue to compete to gain market share in the post-election marketplace, with new products being launched almost daily. Interest rates are expected to decrease over the next quarter, with all eyes on the new Chancellor. Many institutions are looking to Number 11 for indications of the fiscal direction of the new regime.