Property consultancy Knight Frank has experienced a surge in sales activity after the Autumn Budget took place.
The firm is observing renewed confidence among some buyers who had previously adopted a wait-and-see approach, resulting in an uptick in the number of offers received 24 hours after the announcement on 26 November.
Tim Hyatt, head of residential, Knight Frank, said: “Our teams across London and the Country exchanged on almost £300 million of residential property this week.
“We saw the number of transactions more than double when compared to the same week in 2024, broadly driven by pre-Budget fears over potentially onerous tax changes, especially rumours around capital gains tax on primary residences which would have been hugely damaging for the prime market.
“In the end, the bark was worse than the bite. Weeks of speculation caused more disruption than the measures introduced are likely to.
“With clarity on future policy changes, and downward pressure on pricing in recent years, many home buyers now see London and the wider prime country market as one which is offering real value. For those that are in a position to take a mid to long term view, I believe this point in the property cycle, is an opportune time to act.”
Deals exchanged this week include a large lateral apartment in a garden square in Knightsbridge that had a guide price of £25m.
