London’s property market in 2018 – The Property Chronicle
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London’s property market in 2018 Camilla Dell of Black Brick looks at the trends projected for prime London property in 2018

Residential Investor

London Eye

Last year was interesting in London’s property market, to say the least. It was challenging, with flat or falling prices in many market segments, limited stock, and high transaction costs, dampening activity and making it a true buyer’s market. For committed, well-advised purchasers it was, and remains, a great time to be buying, particularly for overseas buyers who can take advantage of the weak pound. However, with limited stock on the market, it has taken hard work, perseverance, and excellent connections to unearth opportunities.

Over 2017 to the end of November, we helped acquire a total of £89,333,300 of properties for our clients across London. Interestingly, 27% were sourced entirely off market. This compares with 33% in 2016, illustrating the trend towards discretion and placing greater emphasis on market intelligence and connections for serious buyers. Last year we were also able to save money for our clients – an average of £257,258 off asking prices, representing 5.9% of the total transaction value.

Looking to the year ahead, January is a time for fresh starts, with a sense of optimism for what the New Year will bring. Indeed, we can be optimistic. Activity in the London property market will pick up in 2018. We saw a marked upturn in business towards the end of 2017, and that pent-up demand will continue this year edging us back towards business as usual.

We see the market in 2018 as being more confident, with more competition, but certainly no bonanza. For those hoping for price rises of the past, however, unfortunately expert forecasts won’t bring much cheer. Most predict flat prices, with Chesterton Humberts, JLL, Savills and Strutt & Parker suggesting 0% growth. Only Knight Frank and Cluttons are in positive territory at 0.5% and 0.7%. Certainly, we would agree that there is little cause for significant price growth over the next 12 months, given the continued economic and political uncertainty.

Residential Investor

About Camilla Dell

Camilla Dell

Camilla Dell is Managing Partner and founder of Black Brick Property Solutions LLP and has worked in the London property market since 2002. She is highly experienced in meeting the needs of demanding domestic and international property buyers. During her career to date, Camilla worked for two of London’s largest and most successful estate agencies, Foxtons and Knight Frank, before setting up Black Brick in January 2007. Since then, Camilla has grown the firm from a two person start-up to London’s largest independent buying consultancy. The Black Brick team collectively boasts over 80 years’ experience in the London property market and has successfully sourced and acquired nearly £1 billion of residential property for private clients. Camilla’s professional, energetic and tenacious approach to property finding, her total dedication to her clients’ needs and her expert negotiation skills have won her huge loyalty and trust amongst her clients who include some of the world’s most successful businessmen and entrepreneurs. Black Brick has a high profile in the residential property sector and Camilla is frequently asked to comment in the press and speak at large international events about the London and UK property market including the Bloomberg Markets Most Influential Summit 2015. Camilla was also recently voted in the Telegraph’s Property Power List as one of the top 25 most influential people in British property and was included in the Spears 500 in both 2015 and 2016, an essential guide for high net worth clients.

Articles by Camilla Dell

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