When thinking about buying London property you need to be aware that the London market operates very differently and is far removed from the rest of the UK and buyers, if they haven’t done so already, need to react in an altogether different way. There’s absolutely no point in reading an article in the Daily Express saying house prices are no longer going up in London (PCL), the fact is THEY ARE, so no point trying to use this argument and attempt to negotiate prices down.
Anyone buying London property needs to be realistic both as far as their expectations for what they’re looking for go, but also on asking prices and value. Buyers looking now will either have been looking for a while, in which case they will already have a good idea of current values.At this time of year there is generally new stock on the market, with sellers looking to sell before the end of the year (and buyers wanting to buy before the year end) new stock is likely to be at a higher price, so it is worth revisiting properties which may not have sold pre-summer, and negotiating on the price of these and seeing if an offer sticks.
There will also be new buyers in the market now, so with the threat of increased buying competition, there’s no time to play a waiting game in London, if the property ticks most of the boxes for you, it’s better to go for it rather than delay.