An independent estate agency in London has officially launched a dedicated operation aimed at the prime property market, claiming vendors of £2+ million properties prefer its more personal service to ‘big corporates’.
James Pendleton has been quietly trialling its upmarket offering for several months but says multi-million-pound properties now make such a significant slice of its volume that it’s now officially launched Prime Pendleton.
The estate agency has also revealed some of its tactics, which are common within the prime market, including how one in five prime properties sold through James Pendleton do not appear on property portals.
Co-founder Lucy Pendleton (pictured) says this is because ‘off-market’ sales allow vendors of more expensive homes to protect their privacy, as images are made available to the public.
Pendleton also says the pandemic has turned the definition of ‘prime London’ on its head, with domestic clients keen to swap trophy homes in Zone 1 for luxury piles in affluent hotspots further west.
She says this has been the real shift in buyer behaviour since the pandemic began and speculation that London is suffering an exodus due to a home working revolution has been ‘wildly exaggerated.
“The appetite for London never went away and, with the vaccine roll-out in full-swing, the buzz is building again,” she adds.
“The prime London market is forecast to be incredibly strong next year. There are still more than enough buyers who want to call these areas their home. Rumours of a post-pandemic exodus from the capital have been wildly exaggerated.”