We believe London’s property market has reached the bottom of its current cycle. Average prices across the city are broadly unchanged year on year, even though some high-value central postcodes have seen modest softening. This combination of stability and selective price adjustments usually signals that confidence may soon return, and the market could start to strengthen.
“This is not a sign of weakness but of resilience,” says Matthew Thompson, our Head of Sales. “The market has navigated Brexit, a global pandemic, political uncertainty, and rising interest rates. While some areas, particularly in Prime Central London, have seen small declines, many others have held firm. Right now, prospective buyers aren’t absent — they’re waiting for clarity following the Government’s Autumn Budget.”
Our latest analysis highlights a pattern often seen at the bottom of a market cycle:
Buyer enquiries, viewings, and offers have slowed
Property listings have increased
This doesn’t mean the market is falling. Instead, it reflects buyers pausing ahead of greater economic clarity. Historically, similar pauses have been followed by sharp increases in activity as confidence improves.
For committed buyers, this can be a rare moment of opportunity: more choice and less competition than in recent years.
“London’s fundamentals remain exceptionally strong,” adds Matthew. “The city continues to grow, international demand is returning, and new housing supply still falls short of long-term requirements. Once confidence improves, this pent-up demand will be released.”
We believe the turning point is approaching, supported by stabilising inflation, improving lending conditions, and the anticipated detail of the Autumn Budget.
“2025 looks set to lay the foundations for a more active 2026. For buyers, this is one of the most attractive entry points London has offered in a decade. Those who recognise that London rarely stays quiet for long will be best positioned to benefit from the next cycle.”