Top 10 London Buying
Thoroughbred buyer Roarie Scarisbrick paints a less than rosy picture of prime central London. Volumes of transactions have ‘significantly reduced’ – down 50-60 per cent in the £10 million bracket – since those happier days in 2014. ‘It was the last functioning year – there were no disasters, no stamp duty hikes and no serious derailments in the market,’ he says.
But tough conditions thrill Scarisbrick, who relishes helping buyers through the property maze at a time when the disparity between asking and transaction prices has never been greater: ‘We make sure [buyers] really understand the context of the seller,’ he explains, ‘how long the property has been in the market and what they should pay for it.’
Scarisbrick says global HNWs are buying less speculatively than before: ‘They’re not just looking for new-build stock; they’re interested in the historical and architectural importance of central London.’
British buyers constitute a large slice of Property Vision’s pie. ‘There’s a perception out there that we only deal with lost foreign buyers – it’s not true at all!’ the Scot says, laughing. ‘We’ve been going on for 35 years and we’ve always been profitable, we must be doing something right.’