West London Property News

Spring 2025

ISSUE 14

Horton and Garton Estate Agents

As we wrap up the first quarter of 2025, West London’s property market is finding its rhythm. Following a period of economic turbulence, high mortgage rates, and tax policy shifts, a new normal is beginning to take shape which we outline in our West London Property News | Spring 2025.

Across both sales and lettings, activity has returned to more balanced, sustainable levels, with sensible pricing, realistic timelines, and long-term value increasingly defining success.

SALES

Welcome to the new normal

The West London property market has potentially felt sluggish at times throughout the first month of 2025 with many taking this time to adjust to the economic and political positions and what these mean for their future finances. While there were concerns that the change in first-time buyer stamp duty relief might rattle confidence, the West London market – where average property prices far exceed the threshold – has remained largely unaffected.

According to Nationwide, UK house prices rose 0.4% in February, with annual growth now at 3.9%. But in London, growth has slowed to 1.6% year-on-year. Halifax, meanwhile, reported a slight 0.1% dip in prices in February, suggesting that the capital’s recovery remains cautious.

There’s been a softening in values, and we expect this to continue as the market returns to pre-pandemic conditions. This isn’t a downturn — it’s a rebalancing. Buyers and sellers alike are adjusting to the market we’re in, not the one we remember.
John Horton MNAEA MARLA, Owner and Director.

Property Prices

Across Hammersmith, Shepherd’s Bush, and Chiswick, supply has increased — a trend echoed nationally by Zoopla, which reported an 11% rise in homes listed for sale compared to this time last year. While this boosts choice for buyers, it also places greater emphasis on realistic pricing strategies for sellers.

In Chiswick, where buyer demand remains high for well-presented family homes, Louise Jones MNAEA, Sales Manager, adds: “We’re seeing strong interest at the right price points. Buyers want value and space, and if a property ticks those boxes and is priced sensibly, it’s likely to move quickly.”

According to Rightmove, the average asking price across Greater London rose by 1.2% in March to £686,844 — still behind the pre-pandemic peak, but a sign that confidence is gradually returning. Nationally, sales agreed are up 9% year-on-year, further supporting the narrative of renewed market activity.

Sellers must be smart — the days of inflated asking prices are over. It’s taking around eight weeks to find a buyer, which is very much in line with a stable market. Those who are serious about moving should embrace today’s conditions rather than waiting for yesterday’s prices to return.
Matthew Clarke, Sales Manager for Hammersmith and Shepherd’s Bush.

LETTINGS

Prices soften, pressure builds

We’re still seeing strong demand from renters, but there’s no doubt that landlords are under pressure. The Renters Reform Bill, due to be read in Parliament between 22 April and 14 May, continues to cause concern — and many landlords are choosing to exit the market entirely. But every landlord who stays will benefit from those that leave, as demand isn’t going anywhere.
Aggie Tukendorf, Lettings Manager

Legislative changes

After several years of rapid rental growth, the lettings market is also recalibrating. Rents have softened slightly across West London as more properties come to market and tenants seek longer-term security.

Rightmove reports that the average London rent is now £2,633 per month, down marginally from its peak in Q4 2024. Tenants are favouring longer leases, a trend driven by both affordability and a desire for stability.

Zoopla’s latest rental market data echoes this shift. While annual rental growth in London now sits at 6.6% (down from over 15% in 2022), demand continues to outstrip supply, particularly for one- and two-bedroom flats in transport-linked areas. The imbalance is set to worsen as more landlords exit the sector, limiting the pool of quality rental stock.

Looking Ahead

With inflation stabilised and no major political or fiscal shocks expected in the immediate term, the outlook for the rest of 2025 is steady, if unspectacular. The Bank of England has held interest rates steady at 4.5% for several months, and while mortgage rates remain elevated compared to historic lows, the most competitive deals are now dipping below 4% for those with significant deposits.

“We’re in a far healthier place than we were this time last year,” says Ashley Clements, Managing Director. “The frenzy is gone, but the fundamentals remain strong. West London continues to offer outstanding lifestyle, schools, and connectivity and that underpins long-term value.”