International buyer slowdown emerges as key challenge for Prime London agents, study finds
AgentWise found that buyer hesitation and a slowdown in overseas purchasers were jointly ranked as the market's biggest challenges, each cited by 30% of respondents.
A slowdown in international buyer activity has emerged as one of the biggest challenges facing Prime Central London, according to a survey of UK prime residential agents by AgentWise.
The survey found that buyer hesitation and a slowdown in overseas purchasers were jointly ranked as the market’s biggest challenges, each cited by 30% of respondents.
A further 27% identified overpricing as the main factor affecting market activity.
Despite international demand remaining a key part of the prime property market, almost three-quarters of agents said they had not collaborated with an overseas agent during the past 12 months, suggesting greater scope for cross-border partnerships.
At the same time, 57% of respondents said their clients are increasingly exploring property opportunities overseas, reflecting growing global mobility and a shift in buyer focus beyond the UK.
Eric Corsaletti, founder of AgentWise, said: “The UK’s prime market has always been an international melting pot and foreign buyer demand remains a critical component of activity.
“However, today’s buyers are increasingly global in their outlook. They are comparing opportunities across multiple cities and countries simultaneously, whether that’s London, Dubai, Lisbon, Madrid or New York.
“That means agents increasingly need trusted relationships beyond their own local market if they are to provide the best possible service to clients.”
Corsaletti added: “Despite the fact that more than half of agents say their clients are increasingly looking overseas, relatively few have actually collaborated with an overseas agent during the last year.
“That highlights a clear opportunity for stronger international connectivity and greater collaboration between professionals operating in different markets.”
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