London Property Spring 2026 Update
As we reach the halfway mark of 2026, I reflect on successfully concluded transactions across Chelsea, Holland Park and South Kensington. We recently completed the last of three acquisitions in RBKC for a client’s children, all in their twenties. Interestingly — though perhaps not surprisingly — every seller of the properties we acquired sold at a loss.
In my opinion, there are few finer gifts than helping your children onto the property ladder, particularly when combined with sensible long-term tax planning to help mitigate IHT exposure.
We are currently seeing a clear divide in the market between sellers attempting to recoup what they originally paid for their property — along with the dreaded stamp duty — and those who are genuinely motivated to sell and are pricing according to today’s market conditions.
Our role is to assess whether a seller is serious or discretionary, as the distinction has rarely been more important than it is today.
Earlier in May, one of our clients exchanged contracts in excess of £10m on a beautiful apartment close to Hyde Park in SW7. We entered and won a sealed bid process, managing every aspect of an accelerated seven-working-day transaction. During the course of the sale, the vendor received an offer well in excess of our client’s. However, they chose to proceed with us — firstly because they were extremely honourable, but also because they took considerable confidence from the representation throughout the process.
It reinforces the old adage that “best-in-class” properties will retain their value and transact in any market.
The central London market has rarely been more nuanced or difficult to navigate independently than it is today, making real-time market insight and trusted representation imperative.
We also recently managed the off-market sale of a house in Wellington Square, Chelsea, achieving the third-highest capital value ever recorded on the square.
Market Update
Sadly, on this occasion, Dawes London cannot claim any involvement in the recent sale of Providence House (formerly Gordon House) in Chelsea for approximately £265m to a UK hedge fund manager. The transaction is thought to be the most expensive residential sale in UK history — and potentially globally — triggering a minimum SDLT liability of £31,713,750.
Our intel is that there was also another offer on the table above the eventual selling price, further underlining the continued strength of the truly exceptional trophy house market.
The family house markets in Chelsea, Kensington and Notting Hill continue to transact across all price brackets, provided pricing is sensible or there is a degree of scarcity.
With the Renters’ Rights Act now in force, we continue to see a significant number of landlords considering sales, particularly in the sub-£4m market. The likely knock-on effect will be a reduction in available rental stock and upward pressure on rents — perhaps not what Labour had envisaged when implementing the legislation.