06/10/2026
Prime London has corrected. The more useful question is who moves while it has.
This week the FT described London as the property market's black sheep, weighed down by stamp duty, the non-dom changes and overseas buyers stepping back. After 30 years in prime central London, I read that less as a verdict than as a vantage point.
Beneath the headlines, the picture is more nuanced. Developers are moving capital out of London residential. That thins the future pipeline at exactly the addresses where good stock is already scarce. Meanwhile, Beauchamp Estates reports Gulf and Asian buyers acquiring whole blocks to hold for rent. That is capital repositioning, not leaving.
Two changes matter for owners specifically. First, the government has confirmed independent regulation of managing agents and caps on leasehold fees, a structural shift for a market so heavily leasehold. Second, mortgage costs for movers are at a 17-year high, so how a purchase is structured matters more than ever.
There is also a quieter point. An empty pied-à-terre is becoming expensive to hold passively, and wealth concentrated in a single home needs a plan, not just patience.
If any of this touches your own position, I would be glad to talk it through.
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