The panel, consisting of Simon French, chief economist at Panmure Liberum; Nick Maud, residential research director at Savills; and Harry Persey, partner at Knight Frank Finance, tackled the impact of regulatory changes on London’s prime real estate market and status as a global financial hub.

The conversation focused on a range of factors that are shaping investment sentiment in the capital, including inflationary pressure, high interest rates, regulatory obstacles and changes to stamp duty and the non-dom regime.

When asked about the impact of Rachel Reeves’ changes to non-dom taxation, Nick remarked: “We haven’t seen a mass influx of stock coming into the market as a result… a lot will choose to retain a base in London,” indicating that perhaps there won’t be the mass exodus that was initially anticipated.

Despite political shifts, the panellists agreed that London remains an attractive investment location —  though investor behaviour is evolving.

According to the panel, those who previously sought single investment properties are now looking to take advantage of commercial stamp duty by bundling six or more units together or purchasing a freehold of a similar nature.

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When asked by moderator Ky Benjamin on their expectation for interest rates at year-end, the panellists were each optimistic in their outlook.

Nick and Harry predicted a modest two to three cuts by the end of the year, with rates settling at 3.75% to 4%.

Simon took a more bullish stance, predicting five rate cuts by the end of the year, starting in May and closing the year at 3.25%.

The prospect of further rate cuts could be just the incentive the market needs, inspiring much-needed activity in the mortgage and rental industries.

Nick highlighted that although prices in prime central London are “down historically by 21% since its 2014 peak, we could be looking at a good buying opportunity now.”

Harry reiterated this, stating that purchasing a property in the capital is a kind of ‘plant the flag’ moment for many buyers, who view prime London’s grand stucco townhouses as the ultimate status symbol.

Property investor, Nick Candy, who was in attendance of the event, reinforced this point by commenting that demand for London’s ‘trophy assets’ remains strong, driven by their scarcity and restricted new supply.

Nick Maud then credited London’s allure to its “great cultural appeal, world renowned education, and rule of law that is consistent and fair.”

So, while domestic political developments may be reshaping how investors approach the London market, the city’s core appeal remains steadfast.