Brokerage reports 50% jump in American demand for prime London property

Transatlantic luxury property brokerage Nest Seekers has reported a 50% jump in enquiries for London property from American buyers.

Investor demand has been boosted by “favourable exchange rates, a current need of diversification of portfolios and perceived safety of the British market,” explains the firm – which currently has £36mn of property deals under offer to North American buyers. Mayfair, Regent’s Park and Marylebone are the most-wanted London locations.

The acceleration in demand has prompted Europe boss Daniel McPeake to bring in two American Nest Seekers agents to “bridge the markets on both sides of the Atlantic throughout 2023”: Shelby Coleman is from the USA’s East Coast, while Natalie Hernandez is from the West Coast.

This follows the launch of a “London Desk” in New York earlier this year, and the recent appointment of a new Managing Partner to drive “intense growth” in Europe.

Shelby Coleman & Natalie Hernandez

 

Daniel McPeake, Managing Director of Nest Seekers in Europe: “In the last year alone, we have stepped up our focus on the mobility of agents and services between New York and London with both markets consistently buoyant despite external economic challenges. Earlier this year we launched our ‘London Desk’ in New York which has created a strong network of alliances facilitating demand both from the US to the UK and vice versa, allowing our agents to respond immediately to the fluctuating pound.

“Having Shelby onboard as our mobile connection between New York City and London is a natural step for Nest Seekers International.

“Natalie is a great addition to our prime London team and will be key to negotiating sales and deals of large asset acquisitions. We are seeing several areas in the city particularly targeted by our American buyers and expect these postcodes to continue to attract interest both in the rental and purchasing markets. 2023 is set to be red hot for real estate and we look forward to expanding our services to continue leading the markets and acquisitions in the UK and US.”

 

Shelby Coleman, of Nest Seekers on the US East Coast: “American investors who are buying in dollars are saving 16% on currency fluctuations since the start of the year which is unprecedented and buyers across the pond know this. I am seeing a range of clients from investors to families reach out to make that purchase whilst there is a guaranteed high rate of return. Being able to visit these properties in person in both locations is key to building on the ground client relationships and I am looking forward to taking the pound product back to New York as well as bringing our American investors to the best properties London has to offer.”

 

Natalie Hernandez, on the West Coast: “Moving from Beverly Hills, Texas or New York City to London means that as agents, we have an agility between the UK and US markets over our competitors and is something Nest Seekers prides itself on. I am looking forward to selling London’s premium property directly to my overseas investors who I have long-standing relationships with and who play a significant role in the PCL market. Right now, we are also seeing interest from young professionals as travel has opened up and a want to increase property portfolios and I am excited to get started on guiding them to the best investments available in London.”