Top 10 London Buying
‘Safe as houses isn’t ringing true at the moment,’ says Tracy Kellett of the PCL market, but she explains this is more due to the SDLT regime and compliance than Brexit. ‘I’d take all the negativity around the market with a bit of a pinch of salt, because they [the values] will rise,’ she advises. ‘Unless Brexit is the bloodbath that it may well be, if it’s just a damp squib then logically speaking the summer of 2019… you’ll be looking at some uplift.’
For the time being, her advice is to futureproof yourself in case you have to sell in the coming years. ‘Focus on quality – quality in the property and quality in the area, so go smaller if necessary, but buy in the places where people will always want to live’. She elaborates: ‘You’re far better if you’re buying something that’s quality – a Victorian apartment in a mansion block in a prime area – than you are something shiny on the other side of the river – your risk is less.’
In the past year her clients have ranged from Americans buying London boltholes to a Chinese client buying a home. There has also been an increase in high-end rentals for financial services professionals. Kellett says this is ‘indicative of people wanting to be in London but not necessarily wanting to risk purchasing until they know where the market is’.