Andrew Ellinas, Director at property consultants Sandfords, said:
“We are seeing a return of the ‘discreet seller’ where we are able to match their property to affluent buyers off-market. International buyers are still flooding the capital looking to secure a prime property so these off-market sales are set to increase while the supply shortage continues.
“We have sold 34% more prime homes in exclusive roads in Regent’s Park and Marylebone in January so far than in the same period last year. Around 90% of our buyers are cash-rich and do not require a mortgage so talk of April’s higher 5% Stamp Duty levy affecting sales does not apply to this market. For these buyers, paying more to secure the right property is of little concern.”
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