PLENTY OF BOUNCE IN THE SPRING
At the end of 2022,we asked a selection of property experts to give their
forecasts for the first quarter of 2023..
SIMON TOLLIT, PARTNER,TEDWORTH PROPERTY :
With specific reference to prime central London there is a healthy volume of buyers in the market and we are currently reporting a significant number of formal offers to our clients. Those who are actively looking tend to be very serious, with a clear and concise objective in mind and if this trend continues, there are many reasons to be optimistic for 2023. Prices are stable in our market, with many discretionary sellers only looking to sell subject to receiving an offer at a level they perceive to be correct. For “best in class” houses and apartments, buyers are aware of the need to step forward with good offers; low offers are not being entertained and without the pressure of needing to sell, this is unlikely to change. In addition, supply constraints will allow values to hold. We work closely with many advisers through our international network who are reporting significant and renewed interest in London homes, particularly from families looking for long-term opportunities and with our stable government (relatively speaking), climate, education system and legal system, London will continue to appeal. Time and time again people suggest London is on a downward trajectory but year after year, it resolutely maintains its appeal and undoubtedly London holds a special place in the heart of many.
