March on March: A Market Reset & a Window of Opportunity

Twelve months ago, the Prime Central London market was steady but cautious. Today, it looks very different and for many buyers, more compelling.

Prices have adjusted meaningfully over the past year, moving further below both pre-pandemic levels and the previous 2014–15 peak. Rather than signalling weakness, this reset has created one of the clearest buying windows seen in the prime market for some time. Well-informed purchasers are recognising that opportunity. As ever, the best deals rarely announce themselves loudly.

At the same time, fewer transactions are completing overall, but that does not mean demand has disappeared. Quite the opposite. Serious buyers remain active, particularly at the upper end of the market, and enquiry levels from international buying agents continue to outperform historic norms.

What has changed is behaviour. Before, buyers would purchase and ask questions later. Now we are seeing clients asking more questions, gone are the days of buying first and asking questions later. Purchasers are taking more time, negotiating carefully and focusing on best-in-class assets. Encouragingly, choice has also improved across the £5m+ market. For purchasers who have been waiting for the right conditions, this combination of pricing adjustment and increased availability is rare.

The lettings market tells a similarly reassuring story. After several years of exceptional rental growth, conditions are now stabilising, but rents remain substantially higher than before the pandemic. Activity is strengthening again, with both agreed lets and new instructions rising, signalling a healthier and more balanced environment for landlords and tenants alike. From our St John’s Wood office alone, we have completed over 18 deals in the last three months, no small feat in the current market and a clear indication that well-positioned rental property continues to attract strong tenant demand.

Taken together, March 2026 does not reflect a market in retreat. It reflects a market recalibrating, and for strategic buyers especially, recalibration creates opportunity.

The smartest money often moves when the headlines are still catching up.

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