A year on from Brexit and London’s priciest postcodes are due for an uptick. The capital’s ultra-prime housing market has seen prices fall by 17% since 2015, according to Savills, and sales fell by 41% this year alone, according to LCP, as a result of various factors, including stamp duty increases, other capital taxes, and political and economic uncertainty.
But Lucian Cook, head of residential research at Savills, reckons that ultra-prime central London prices are on the up. “We forecast prices will rise by a net figure of 21% over the next five years, loaded to the later years of that period. There is a sense that pricing has now largely adjusted to the increased tax environment, although the uncertainty around Brexit is likely to hold back any price growth over the next two years or so. For those who buy into the longer-term track record of price growth and are looking at returns over the medium term, this presents an opportunity to buy, particularly when combined with the effect of the weakness of sterling.”
Cook adds that he still sees prime central London property as a relatively secure investment asset in a global context.
With that in mind, Billionaire brings you 10 of the most desirable — and expensive — properties on the market in London, all priced at US$20 million and up. You never know, you may get one for a steal.