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LONDON’S PROPERT Y MARKET – C ALM AFTER THE CURRENT STORM BY ZOE DARE HALL The year has begun with a perfect storm – one in which Brexit and Covid, along with the usual seasonal lull, have combined to leave the central London market looking lost at sea. But what lies ahead for prime property in the capital?
As across so much of the world currently, central London is eerily quiet. The shops are shut, offices empty, and half the residents of Kensington, Chelsea and Mayfair have decamped to their country homes, seeing them as preferable sanctuaries from which to see out the storm.
Many estate agents are trying to put a positive spin on this unprecedented period of hiatus tinged with hope, as Covid vaccines are rolled out in their millions, but the nation is still largely stuck at home. Some agents are hailing this as a great time to buy, without the usual competition from foreign investors. And in a sense this is true, with the only international buyers either already based in London or prepared to buy virtually, from a distance, based purely on 3D walkthroughs and Facetime viewings.