Legacy Purchases Aren't Made in Boom Markets
Dear friends,
It’s not always easy to recognise a moment of opportunity while you’re standing in it. Especially in a market that feels flat, hesitant, or slightly off-key. Yet this is often when the most meaningful purchases happen. Not the loudest, but the most enduring.
The current market is one of the most challenging I have seen for sellers. Unless a property is truly exceptional, it is unlikely to achieve its full asking price. Only those who are prepared to reprice in line with today’s conditions are finding buyers. This is even more pronounced in the £5m+ bracket, where the domestic market — driven largely by genuine need rather than speculation — continues to tick over, but without the urgency required to push prices higher.
Market update & outlook
We are still very much in a bear market
The recent interest rate cut may help secure a bottom.
Prime Central London prices are down 3.7% over the past year (Savills).
Values now sit in some cases 15-20% below their 2014 peak.
Confidence is muted. Urgency is rare. Bidding wars are few and far between.
Even so, real value exists. Motivated sellers are willing to deal, and that’s when the most enduring purchases are made.
This is where a buying agent becomes indispensable. With eyes and ears on the ground, we hear about opportunities before they become public. In bear markets, experience and timing are everything.
Promising news!
What’s in there
Knight Frank (Prime Central London, sales): +19.2% cumulative 2025–2029; they now see 2025 flat (0%) for PCL, with recovery later in the period.
Savills (Prime Central London, sales): +18.7% over 2024–2028 (latest published PCL 5 yr view; they haven’t issued a 2025–2029 PCL figure yet). 
JLL (Prime Central London, sales): +19.8% over 2024–2028 (latest PCL five year view; no 2025–2029 PCL number published).
CBRE (Greater London, mainstream sales): +20.3% 2025–2029 (London overall — not a prime only series).
I'm very proud to report that my sister company, Atelier Nm run by Najwa Mroue, has been nominated as a finalist in the very prestigious SBID awards. Najwa has worked on many of my clients projects and shares the same ethos as mine, authenticity and professionalism combined with client focused value.
Confidence markers
Despite the slowdown, some buyers at the upper end are moving decisively:
The Bryanston overlooking Hyde Park: five-bedroom apartment exchanged at £24.3m.
Whiteleys achieved £5,000 per sq ft on a recent sale.
The Broadley in Marylebone recorded £50m in sales within three weeks of launch (PrimeResi).
£38m Belgravia mansion sold after a competitive bidding process.
Ilchester Place townhouse in Holland Park sold at £18.75m.
Lansdowne Crescent home in Notting Hill discreetly sold for £24m.
These don’t yet signal a rally—but they are confidence markers, suggesting the lowest values may now be behind us.
Homes One Insight
Legacy purchases aren’t made in boom markets — they are made in moments of hesitation, by buyers with the vision to see beyond the headlines.
Who’s buying?
Nearly 25% of London buyers this year are under 30 (Savills) — double the share from a decade ago.
This group is focused, informed, and ready to take advantage of value.
Likely reflects wealth changing hands as families look to make legacy purchases in a city with enduring global appeal.
Pause for thought
It has been difficult recently to watch the suffering of innocents around the world and to keep perspective while going about our daily lives. These moments are a reminder to take nothing for granted — in our work, our homes, and our relationships — and to focus on what we can control, while helping where we can.
Looking ahead
Those waiting for a “clear turning point” may later realise the real opportunity passed them by.
If you want considered guidance in a market that rewards discretion, insight and access, now is the time to act.
Warmly,
Karim