This edition of The Standard podcast examines the current state of London’s property market - from the top of the ‘prime’ action, to areas attracting first-time buyers.
What factors are impacting decision-making, and is it possible to negotiate anything resembling a bargain deal right now?
The latest Halifax figures show an average UK drop in property prices of almost £3,000 per transaction - but in London, Nationwide says prices are up 1.2 per cent.
Meanwhile, according to the Zoopla House Price Index, the average sold house price in London is now £534,000.
At the same time, sellers are now accepting £19,500 below asking price on average, a 4.3 per cent reduction, compared to £25,000 (6.1 per cent reduction) in November 2023.
The Standard podcast is joined by Alex Goldstein, managing director of Alex Goldstein Property Consultants, and India Block, deputy editor of the Standard’s Homes & Property section.
In this episode, we’ll also discuss some of the unique homes to come on the capital’s market this year.
They include a seven-bedroom Chelsea house built in 1956 that’s been owned by just two families and still has all its original features - including a time capsule kitchen.
The property in Cathcart Road was designed by the architects Wallis, Gilbert and Partners — the same practice behind the iconic Art Deco Hoover Building in Ealing and the Victoria Coach Station.
It was put on the market this year with Savills for £8 million.
Listen above, or wherever you find your podcasts.
