Top Recommended London Selling
The mood in London is now positive, says Flint, Knight Frank’s head of London residential — a relief after a ‘challenging’ year that saw a 37 per cent decrease in volume of transactions following the stamp duty rises and uncertainty surrounding Brexit. There was a marked improvement in the last quarter of 2016, which included the best November they’ve had in three years.
Low interest rates and a weak pound have helped encourage both domestic and foreign clients, as has a much-needed dip in asking prices. ‘Some properties are now well-priced and people may look back at the end of 2017 and think, “Maybe the beginning was a good time to buy,”’ says Flint. ‘I like to think we are possibly at the bottom of the curve.’
Knight Frank has expanded from seventeen offices to 30 in the past five years, with three new openings in 2016 in the fast-developing areas of King’s Cross, Aldgate and Victoria.
‘Our strategy is not just to open in areas where there’s a market, but also to be at the forefront, and it’s working very well for us,’ says Flint. One to watch for a bargain, he adds, is Victoria, which is set to rival its more salubrious neighbour Belgravia in the near future.