London’s most exclusive neighbourhoods are seeing record numbers of properties for sale as wealthy non-doms leave the capital in response to Labour’s tax reforms. While sales of homes priced above £10m have fallen sharply, international interest – particularly from American buyers – remains strong, with buyers seeking value in discounted prices. This shift is redefining London’s prime property market, creating both challenges and opportunities for investors and advisors.
Rhianne McIlroy, our Prime Central & South West buying advisor, shares with The Times: “In Belgravia, properties are trading at around 26pc less than they were 10 years ago. When combined with the currency advantage, we’re seeing growing interest from American buyers.”
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