In 2025, buy-to-let portfolios still offer strong income and growth for high-net-worth investors. But with tighter lending, rising taxes, and new regulations, success now depends on smart structuring, careful planning, and expert financial guidance.
Late 2025 finds the UK’s prime property market at a crossroads. After years of rate hikes and shifting policy, the sector is adapting to a new normal. In this snapshot, we highlight trends shaping high-end property across pricing, buyer behaviour, lending, and politics.
Prices have softened across many prime postcodes, especially in central London. Around one-third of listings have seen price reductions to attract serious buyers, and most deals are now closing 8–9% below asking. This signals a market where negotiation has returned and buyers are firmly in control.
In outer-prime neighbourhoods like Richmond, Wimbledon and Putney, values have held up better. Some areas have even seen slight increases thanks to consistent local demand and less exposure to international buyer shifts.
UK-based high-net-worth buyers are taking the lead. Many are using this market moment to upgrade into better locations or larger homes. These buyers tend to take a long-term view and are less affected by the current political noise.
International interest remains, particularly from U.S. and Middle Eastern buyers, drawn by favourable exchange rates and London’s global appeal. However, tax changes and broader economic caution have made some overseas buyers more selective, and in some cases, they’re choosing to sell.
High-street lenders have been behaving more cautiously since the tail end of 2022. However, we are now starting to see banks loosen their criteria and improve affordability after several years of relative restraint.
In fact, the high street is beginning to offer products and lending criteria similar to those of private banks. Mainstream lenders are becoming more creative in their approach, introducing new types of lending such as foreign currency facilities and asset monetisation.
By stepping into the private banking space, they can attract more high-net-worth borrowers who, in turn, benefit from attractive high-street pricing — often more competitive than that of private banks.
The upcoming budget has cast a shadow over the high‑end market, with stamp duty front and centre. While there is broader tax speculation, it is potential changes to stamp duty, especially at higher price points and for non‑UK buyers, that are creating the most pause.
Recent increases to the overseas buyer surcharge and the phasing‑out of non‑dom rules have already influenced behaviour. Now, the prospect of further adjustments has led many prime buyers and sellers to hold off until there is clarity.
For our clients, the key consideration is cost certainty. Even small changes to stamp duty bands at the top end can translate into six‑figure differences when purchasing high‑value property. We’re seeing clients run scenarios, pause exchanges, or negotiate flexibility in contracts to accommodate potential changes.
In short, clients are thinking more strategically. Flexibility, speed, and the ability to present a strong case to the right lender are making all the difference.
With stamp duty changes on the horizon and financing rules evolving, timing and presentation matter more than ever.
If you’re considering a move, whether purchasing, refinancing, or just exploring options, at ONOZZI, we can help you navigate the detail and act with confidence.
You might also be interested in
In 2025, buy-to-let portfolios still offer strong income and growth for high-net-worth investors. But with tighter lending, rising taxes, and new regulations, success now depends on smart structuring, careful planning, and expert financial guidance.