London property market showcases resilience amid economic momentum

Despite the end of the stamp duty holiday earlier this year, the London property market is standing strong. More sellers are putting their properties for sale and buyers are showing solid interest. All these signs point towards a positive market boosted by rising confidence, secure economic indicators and improved affordability.

Rising home values

As per recent Rightmove data, the average asking price for a UK home rose by 1.4% (£5,312) in April – a notable increase despite the largest April housing supply in over a decade.

London continues to maintain its premium standing, with average prices touching £699,200 — an 85% premium over the national figure. Property values in London increased by 0.5% in March and 0.4% year-on-year.

The average time to secure a buyer shortened to 65 days in April – down from 69 in March.

Buyer confidence holds firm

Recent figures show a drop of around 24,000 cases, suggesting market fluidity. Buy demand is on the rise, too, up from 5% compared to April 2024. The number of new sellers entering the London market saw an increase of 4%. Property gurus predict that with potential interest rate cuts by the Bank of England, buyer sentiment will continue to rise through the summer.

Improving growth and lower inflation

Data from the Office for National Statistics (ONS) indicates that the UK economy grew by 0.5% month-on-month in February, boosted by a rebound in the services sector. Inflation reduced to 2.6% in March, close to the Bank of England’s 2% target.

Investment in London’s workforce

London’s workforce is getting a major boost thanks to a new £27 million upskilling programme, led by the Mayor of London, Sadiq Khan.

This initiative will help improve access to high-quality digital and green technologies sectors and is aligned with the new London Growth Plan.

Benhan & Reeves Singapore: Legacy of market expertise

As the London market shows signs of renewed energy, overseas buyers, including those in Singapore, are looking at fresh opportunities. London remains a global real estate hub thanks to stable buyer confidence, improving affordability and a robust rental market.

Whether you’d like to explore commuter hotspots like Reading or prime London zones like Central and South West London, Benham and Reeves Singapore can assist you with in-depth, local market knowledge and insights. We have offices in over 14 countries and 21 London locations, backed by over 65 years of real estate expertise.

Our agents offer multilingual, tailored support and end-to-end support for each stage of your investment journey — from property selection and legal guidance to tenant sourcing as well as rental management services.