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Market Insights December 2024
As 2024 draws to a close, we share our reflections on the year.
If we can assist at all over the festive break or in the new year, please don't hesitate to get in touch.
Best wishes
Jo Eccles
Founder and Managing Director, Eccord
+44 (0)20 7244 4482
jo.eccles@eccord.com
Reflections on the year
This year we have been privileged to help our clients navigate a complex and shifting marketplace, where the seasonal ebb and flow has been upended by pivotal events including the General Election, Autumn Budget and the US Election.
We have transacted on over £100 million of property, ranging from £4 million to £30 million. A large proportion of properties were secured off market via our extensive network. In other cases, we waited for properties to come to the open market when sellers’ expectations had adjusted to more realistic levels, which proved the right strategy.
Careful and intelligent negotiation has enabled us to secure asking price discounts in 80% of transactions, and we have helped our clients understand and recognise value in an opaque market.
The Eccord team and I live and breathe the prime central London property market, but we never forget we are a people business first. It’s an honour to advise our clients, often during pivotal moments in their lives, to protect their interests, bring clarity and confidence to their decision making and help them achieve outcomes they couldn’t accomplish alone.
For our Search & Acquisition team, our buying clients this year have been leaders from the worlds of banking and private equity, film and publishing, tech and entrepreneurs, as well as the Bank of Mum and Dad acquiring property for grown up children. Of the international buyers we have represented, a large proportion have been relocating from the US, almost all of whom have put down roots in London for the long term.
Our Property Management team continue to guide our landlords - whether they find themselves in the rental market by choice or by accident - through the multiple challenges they face, and look forward to being their exhaustive eyes and ears in the months ahead as the Renters’ Rights Bill passes into law. Within our portfolio, the majority of tenants continue to renew and our landlords are rightly prioritising the retention of high quality tenants for the long term.
Momentum is strong heading into 2025 and we are forecasting our busiest January in a decade, yet the market remains both complex and challenging to navigate. The team and I are here to help guide you through it, whether you’re looking to buy a property, or you're a landlord or homeowner seeking expert home management.
To every client we have had the pleasure of working with this year, and to every professional in our valued network - thank you for placing your trust in us.
Wishing you a happy and peaceful 2025.
For 18 years, we have been trusted by individuals and families to provide exceptional property search, relocation and property management services.
Our award-winning team have successfully acquired more than 400 properties for clients and we manage a portfolio of more than 150 rental properties and private homes. Please get in touch if we can be of any assistance.
T: +44 (0)7244 4485
