Property consultancy Knight Frank has skilled a surge in gross sales exercise after the Autumn Finances happened.
The agency is observing renewed confidence amongst some patrons who had beforehand adopted a wait-and-see method, leading to an uptick within the variety of presents obtained 24 hours after the announcement on 26 November.
Tim Hyatt, head of residential, Knight Frank, stated: “Our groups throughout London and the Nation exchanged on nearly £300 million of residential property this week.
“We noticed the variety of transactions greater than double when in comparison with the identical week in 2024, broadly pushed by pre-Finances fears over doubtlessly onerous tax modifications, particularly rumours round capital positive aspects tax on major residences which might have been vastly damaging for the prime market.
“In the long run, the bark was worse than the chew. Weeks of hypothesis prompted extra disruption than the measures launched are prone to.
“With readability on future coverage modifications, and downward stress on pricing in recent times, many house patrons now see London and the broader prime nation market as one which is providing actual worth. For these which can be ready to take a mid to long run view, I consider this level within the property cycle, is an opportune time to behave.”
Offers exchanged this week embrace a big lateral residence in a backyard sq. in Knightsbridge that had a information value of £25m.
