There is a new breed of London buyers emerging. Typically, in their late twenties to late thirties, and within the tech and cryptocurrency industry, a drive of change in the demographic of top-end property sales has begun to show. Specifically, over the £10m mark, recent trends have proven that this new breed prefers to keep their anonymity, find properties that they can add value, and are happy to purchase outside traditional prime London areas.
Ashley Wilsdon, head of London buying comments: “Billionaires have changed what they are buying. They’re not buying the £100 million trophy penthouses near Hyde Park. They’re more likely to be buying around £15 million to £25 million in Notting Hill or Ladbroke Grove.”
It is said that this new generation have made money during the pandemic and are keen to invest in larger assets such as yachts, private jets and art, and since travel has resumed, they are broadening their portfolio to include property. The pandemic has also caused a shift in interest between flats and houses in London. Pre-pandemic, there was a higher interest in flats, now, however, house purchases are dominating the market.
Full article in The Times