Antony Roberts’ experts are often asked for their opinions on various aspects of the housing and rental markets. Below, is a selection of our comments which appeared in the press in January.
London’s house prices rose by 2 per cent in 2024 to £525,535, according to Nationwide building society. Amy Reynolds, head of sales at Antony Roberts, told The Standard: “Transaction levels remain subdued compared with pre-pandemic norms, as high borrowing costs and high stamp duty continue to weigh on the market. There is a growing divide between well-priced homes, which are selling without too much trouble, and overpriced ones, which are stagnating. However, a fresh new year and the expectation of lower mortgage rates should restore buyer confidence and improve transaction numbers.”
Indeed, with the stamp duty concession ending in March, property experts predict a strong spring for the housing market. Amy Reynolds told City AM that the early signs are encouraging: “This month we have been seeing a good number of market appraisals, which is often a precursor to a strong spring market.”
However, homebuyers don’t have much time if they wish to pay less stamp duty. In an article on how buyers can beat the deadline, Amy Reynolds told The Independent: “Buyers can request that their solicitor does their proof and source of funds quickly and early on, not at the point of exchange where delays can hold everything up. If the seller and buyer are organised, a sale can still be agreed in February and completed in March, but it will take some time and effort from all parties.”
If you do miss the opportunity to take advantage of the stamp duty concession, staying put and adapting your existing home, rather than going to the expense and hassle of moving, can be worth considering. Amy Reynolds told The Daily Mail that homeowners need to think carefully about what work they should do and seek advice: “A London premium of 10-15 per cent makes an average dormer loft extension in the capital at least £100,000. But not all added space is equal,” she says. She compares two adjacent houses in Amyand Park Road, both listed at £1.15 million. “One had converted the existing roof to make it a ‘useful’ spare bedroom and completed at £1.08m; the other, which had a dormer on the back with balcony to provide a ‘wow’ master bedroom suite, sold over the asking price,” she said.
