September 2025 Newsletter

Here is our latest round-up of the current talking points in the London property market this Autumn.

Property prices – There is considerable discussion in the press about falling property prices. As always, we caution against reading too much into broad statements. If you dig into the details, price changes vary enormously from area to area, and depend on whether we are talking about apartments or houses. For example, recent data from Lonres shows that prices of apartments in Earl’s Court have fallen by 20% over the last five years, whereas in neighbouring Notting Hill and Kensington W8, average flat prices have increased by 24% over the same period. As with any market, it is virtually impossible to predict what lies ahead, but for those wanting to take advantage of what some are calling a buyer’s market, the area and type of property you choose are key.

EWS1 certificates – EWS1 came as a knock-on effect from the 2017 Grenfell fire. This tragedy rightly prompted new legislation, primarily the Building Safety Act 2022 and the Fire Safety Act 2021, which required numerous apartment blocks across London to upgrade the fabric of the building. We also saw the introduction of EWS1 certificates. These External Wall System certificates, whilst not a legal requirement, are increasingly seen as mandatory by lenders, and therefore by buyers and sellers. This did cause multiple-year delays, post-Grenfell, for some vendors whilst they waited for financing to be raised, remedial works to be carried out, and certificates to be issued. Things had started to settle down as EWS1 certificates were issued, but these certificates are only valid for 5 years, and we are now seeing apartment blocks that need to renew their certificates. Many managing agents are assuming that this is a tick-box exercise; it is not, and as a result, purchase transactions are at risk of falling apart.

Service charges on the rise – Service charges have risen dramatically over the past few years, with some increasing by as much as double. A combination of factors is to blame: higher energy prices; increases in labour and material costs; and also increased regulation (for example, around fire regulations, insulation, and health and safety). It is therefore essential to understand the various elements of a service charge, planned work programs, and existing reserve funds before exchanging contracts. The same goes for ground rents.

Olympia revisited – With the building work at Olympia nearing completion, it is an exciting time for West London. The £1.3bn renovation includes a new and impressive 1500-seat theatre (the largest since The National was opened in 1976) and a 4000-capacity music venue rivalling the capacity of nearby Hammersmith Apollo. With the opening of the Wetherby Pembridge Co-ed senior school at the beginning of the month, this corner of Brook Green is coming to life. What it will do to local property values is hard to say, but Brook Green is offering good value for money at present, with average prices hovering at around £1000/sqft.

Conveyancing periods lengthen – The time between an offer being agreed and lawyers being in a position to exchange contracts is getting longer, particularly on leasehold properties. From the higher service charges to the EWS1 certificates already mentioned, there are plenty of angles that prospective buyers need reassurance on, many more than a decade ago. Prices are not as strong as they used to be, adding to the buyers’ feeling that there is less pressure to exchange quickly. Being thorough makes sense. Vendors now need to adapt to this increased scrutiny and be prepared to provide complete and accurate documents, responding to points that come up during a survey, including those related to property maintenance.

Should I stay or should I sell? – Many buy-to-let investors have been selling off their properties in recent years due to the introduction of punitive tax changes. The upcoming Renters’ Rights Bill is, for some, the final nail in the coffin. Royal Assent is expected later this year, and the legislation will then be implemented in stages, likely beginning in early 2026. The Bill covers a wide range of provisions to ensure tenants’ rights are protected but for many landlords the inability (in broad terms) to give notice unless you plan to sell the property or move into it, and the inability to take rent upfront (for example where a tenant has poor or no references, or for students) has meant more investors selling. We are already seeing the impact through further rent increases and a decrease in the number of rental listings, which dropped at the fastest rate since the Covid-19 lockdown in August (FT, Sept 25).

Droning On – Drones are being used by residential surveyors as part of their standard survey. It goes without saying that they can be used to survey roofs and external facades that can be difficult or impossible to access, although nothing beats a physical inspection. However, please note that drone usage is not automatic; if you are near Royal premises, barracks, or a heliport, licenses must be obtained, which can take time to process. It is also worth noting that even if you are all set to go, drones often can’t be used in the rain.

To Find Out More, Get in Touch
We very much hope that you find this update concise and informative. Please do feel free to contact us if you would like to discuss any aspect of the London property market, or how we can help, as London buying agents and property finders.

Regards,

Jane Wood
Founding partner