Pimlico update

Q3 has been an exceptionally busy period.

1) We have agreed 27% more transactions compared with the same period last year
2) With a 50% increase in total cumulative value
3) We continue to achieve in excess of 95% of the guide price on average
4)75% of our current pipeline is entirely cash-funded, with no mortgages or chains involved
5) The average agreed property price is up 33.75% on the same time period last year.

Despite the headlines you may be reading, the market remains positive, with strong demand and motivated purchasers continuing to commit to transactions.

The profile of buyers has remained broadly consistent throughout the year: first-time purchasers, pied-à-terre buyers, and families seeking new homes, predominantly UK-based. On the selling side, we are largely seeing lifestyle-driven decisions retirees consolidating assets, and others looking to support children or grandchildren onto the property ladder.

A number of homeowners are currently waiting to see the outcome of the upcoming budget. However, many of those will still sell regardless of any new policies from the Government, which is likely to bring an increased volume of property to the market early next year. My personal view is that there is an advantage in acting now while activity is strong and before the anticipated increase in supply.

As always, the foundations of a successful sale remain the same: accurate, evidence-led pricing; thoughtful ambition; a strategic marketing approach; and the right agent to lead the process.

The lettings market also remains busy, with limited stock and strong rental prices being consistently achieved. For discretionary sellers, this can provide a very effective Plan B.

If you are considering a move in the near or medium term locally, elsewhere, or simply reviewing your portfolio I would be delighted to discuss your plans or provide an updated valuation.

We look forward to hearing from you.

With very best wishes,