This week, news from London’s prime property market highlights subdued transaction volumes, price adjustments, and a cautious stance among elite buyers ahead of the Autumn Budget. Demand for large luxury mansions has notably dropped, with wealthy clients increasingly hesitant due to tax changes and uncertainty about further reforms. Many, including international buyers, are now favouring smaller, high-quality investment properties over grand residences.
Market activity is at its lowest level in over a decade, with ultra-prime homes (valued above £10 million) especially affected. Discounts on asking prices average around 8-9%, illustrating more realistic valuations and stronger negotiating power for savvy buyers. Despite a weaker pound attracting foreign investors, sales levels remain well below previous years. The end of the non-dom tax regime and concerns over new tax hikes have also led some high net worth individuals to shift residency away from the UK, pressing market dynamics further.
Today’s elite clients have transitioned from trophy seekers to pragmatic, discerning investors who prioritise value, political stability, and fiscal clarity. Many are strategically positioning themselves, engaging in quiet, hard negotiations with an emphasis on fair deals, and are prepared to walk away from unsuitable offers. This thoughtful approach often signals the future direction of the broader luxury sector—when these buyers re-enter actively, market confidence typically rebounds.
Amid these challenges, business owners and entrepreneurs are urged to embrace moments for connection and creativity. Seasonally themed networking events such as open mic pitch nights, professional mixers, and exclusive club gatherings—held in venues like Home House and organised by Socialite Connections—offer invaluable opportunities to redistribute energy, forge strong partnerships, and exchange fresh ideas. These invite a balance of relaxation and purposeful business-building in one dynamic setting.
Evassential encourages its network to look beyond market uncertainties, finding joy and resilience through community engagement. Whether in grand halls or intimate salons, sharing laughter, dialogue, and inspiration is essential, especially during testing economic times. For entrepreneurs balancing ambition with reflection, these events provide a chance to recharge and open doors to new collaborations, clients, and friendships.
As autumn progresses, may this season bring perspective, balance, and renewed optimism. Connecting with fellow visionaries, nurturing trusted relationships, and embracing the spirit of refinement and resilience will sustain success across the luxury world—whether in investment, creative pursuits, or business leadership. Evassential Business wishes all our clients and partners a fulfilling, prosperous season ahead. For more property and project management partnership please contact eva@evassential.com