The Golden Venn Perspective
Summer 2020

Following the reopening of the prime London market in May we saw an upsurge in buyer enquiries and viewings, a result of pent up demand. However, a realignment of price expectations between sellers and buyers is still required, especially at the higher end of the market. Nevertheless, offers agreed in the price bracket below £1 million are significantly higher than the five-year average.

This market is likely to be boosted by the welcome removal of Stamp Duty Land Tax on property up to £500,000 until March 2021. This intervention provides fresh impetus for buyers and investors to act now. Notwithstanding ongoing COVID-19 related uncertainty, Golden Venn is seeing a prime London residential market once more asserting its resilience. In terms of global positioning London stands firm, comparing favourably to other ‘safe haven’ cities such as New York and Vancouver regarding the cost of buying, holding and selling property.