Uncertainty Grips the London Property Market

As we enter what is traditionally one of the busiest periods of the year for the residential property market, there would normally be a sense of increasing momentum across Clerkenwell, Bloomsbury, Barbican and the City of London. With Easter and the May Bank Holidays behind us and summer approaching, buyers and sellers would typically be preparing for a particularly active period.

However, the London sales market is currently showing clear signs of fragility, and one question I am being asked repeatedly is:

What is actually happening to the London property market?

The reality is that there is no simple answer.

Why Is the London Property Market So Complex?

Market conditions are becoming increasingly dependent on the individual property rather than simply the wider direction of the London market.

Location, property type, condition, service charges, lease length and building safety considerations can all have a significant impact on buyer interest. For leasehold properties, a favourable EWS1 position and clear information around fire safety can also provide much-needed reassurance.

Beyond the property itself, buyers are facing a range of external financial pressures. The market is no longer being driven purely by sentiment or confidence; affordability and the overall cost of owning a property are now playing an increasingly important role in purchasing decisions.

Simply put, if your property is poorly presented or incorrectly priced, attracting serious buyers will be considerably more difficult.

The Rise of the "Home Maker" Buyer

Not everything is static.

One of the most significant changes I have witnessed over the last decade is the evolution of the Central London buyer.

The traditional buy-to-let investor and pied-à-terre purchaser have become less dominant, creating space for a different type of buyer: the "home maker".

These buyers are not simply looking for an investment. They are looking for somewhere they genuinely want to live and, importantly, somewhere they can fall in love with.

They want individuality, liveability, desirability and personality. They are attracted to homes that feel unusual, interesting and full of character rather than simply ticking a list of investment criteria.

We have seen this particularly clearly over the past two years, with continued demand for period homes, loft apartments and freehold houses.

While these properties may not necessarily achieve above-market values, there remains strong demand for the right home when it is presented and priced correctly.

What Are Buyers Looking For in 2026?

Today's buyers are becoming increasingly selective and are considering both the purchase price and the ongoing cost of ownership.

In the Central London market, we continue to see interest in:

• Period properties with character and original features
• Loft apartments and unusual conversions
• Freehold houses
• Well-designed and beautifully presented homes
• Properties with individuality and personality
• Sensible service charges and manageable running costs
• Properties with clear building safety documentation
• Homes that are realistically and competitively priced

The message for sellers is straightforward: understand your competition, understand your buyer and make sure your property represents genuine value.

The Renters' Rights Act 2026

From 1 May 2026, the Renters' Rights Act brought a new set of requirements and protections into the private rented sector, affecting both landlords and tenants.

At Hurford Salvi Carr, we are well versed in the changes and are happy to advise landlords on how the new rental landscape may affect their property.

If you are considering renting your home, please contact my colleague Jennifer King-Neary at [email protected], who will be delighted to assist.

Milan Design Week and the Importance of Presentation

I have also just returned from my annual pilgrimage to Milan for Il Salone del Mobile. It is, without question, one of my guilty pleasures.

For six days, Milan becomes a global stage for design, architecture, interiors and innovation. The city is transformed by an extraordinary collection of exhibitions, installations and creative ideas.

For me, the relevance to property is obvious.

Presentation has become increasingly important when selling a home. Today's buyer is not simply looking at square footage, location and price. They are responding emotionally to what they see.

Good design, thoughtful presentation and a home that creates an immediate sense of desire can make a significant difference to saleability.

I have attached my full report from Il Salone del Mobile, where I explore some of the most interesting design trends and ideas from this year's event.

Looking Ahead

The London property market remains challenging, but opportunities are still very much present.

The market may be more selective, but buyers have not disappeared. They are simply more considered, more informed and increasingly focused on value.

For sellers, the fundamentals remain clear: presentation, pricing, condition and understanding your target buyer are more important than ever.

For those with the right property and the right strategy, there are still buyers ready to act.

If you have any questions or would like a confidential conversation about your property plans, I would be delighted to help.

Marco Fugaccia
Sales Director
[email protected]

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Frequently Asked Questions

What is happening to the London property market in 2026?

The London property market remains selective and price sensitive, with affordability, running costs, property condition and location all influencing buyer decisions.

Are buyers still active in Central London?

Yes. Buyers remain active, but they are taking more time to assess properties and are increasingly focused on genuine value.

What type of properties are most popular with buyers?

Period homes, loft apartments, freehold houses and characterful, well-presented properties continue to attract strong interest, particularly where pricing and running costs are considered reasonable.

How important is presentation when selling a London property?

Presentation is extremely important. Buyers are increasingly influenced by the look, feel and personality of a property, particularly in a market where they have plenty of choice.

Has the Central London buyer changed?

Yes. The market has seen a decline in the traditional buy-to-let and pied-à-terre sectors, alongside the emergence of more lifestyle-focused "home maker" buyers looking for somewhere they genuinely want to live.

What should I consider before selling my property?

Sellers should carefully consider presentation, pricing, condition, lease length, service charges, building safety documentation and how their property compares with competing homes currently available.