Q1 West End, London, investment market records $1.3b transactions

Savills’ latest West End investment market update reveals that transaction volumes in first quarter 2024 reached £1.02 billion ($1.3 billion), reflecting ongoing caution from buyers and sellers. Savills recorded 25 transactions, showing a 20 percent reduction in volume but only 10  percent fewer trades when compared to the five-year average. With trades above £100 million ($127 million) largely absent, key liquidity was in the sub-£50 million (sub-$63 million) range.

Headline inflation persisting above the Bank of England’s target rate and geopolitical uncertainties continue to influence market dynamics, Savills says. With interest rates holding steady at 5.25  percent, GDP growth is expected to return, albeit modestly, from a recent technical recession. Supply constraints also persist in the West End market, with signs of distress limited and owners keen to hold out. Despite these challenges, the buyer profile remains diverse, with institutions, private investors,