James Vernor-Miles comments on the prime London property market in Tatler

James’s comments were published in Tatler, 8 August 2023, and can be seen here.

James Vernor-Miles, Head of our Residential Property department, was quoted in a recent Tatler article examining the resurgence of ultra-high-net-worth buyers in London’s prime property market during the first half of 2023.

The report highlights a notable increase in demand for luxury homes, particularly in areas like Mayfair, Hyde Park, and St John’s Wood. International buyers, especially from Asia and the U.S., are returning to the market, drawn by London’s reputation as a secure investment hub with world-class amenities.

Agents report a shift in buyer preferences, with growing interest in high-end apartments and pied-à-terres, and a renewed willingness to transact as stock levels improve and sellers become more active ahead of the general election.

James offers a measured perspective, noting that while the super-rich are not immune to economic pressures such as inflation and political uncertainty, the current dip in asking prices may present a strategic opportunity for well-prepared investors. He advises prospective buyers to engage a trusted lawyer early in the process to ensure they are legally and logistically ready to act swiftly when the right property becomes available. His comments underscore the importance of assembling a strong advisory team to navigate the complexities of the super-prime market and secure rare, prestigious properties that may only come to market once in a generation.

Read the full article on the Tatler website [external link].