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October 28, 2026
What the Capital Gains Tax Reprieve Means for Prime Central London Owners
Few subjects have caused more anxiety among property owners this year than the prospect of a sharp rise in capital gains tax.
- Prime Central London
- Buying
October 28, 2026
Families return, schools go back and buyers who spent the summer browsing start to act. This year, that seasonal shift has been accompanied by an encouraging sign: after several months of small corrections, London asking prices have started to rise again.
Rightmove's latest figures show that asking prices on homes newly listed in London climbed by 1.8% in September, an increase of more than £11,000 compared with August. Across the country as a whole, asking prices rose by 0.7%, the first monthly increase since May. For owners who have been weighing up whether to sell, it is a welcome indication that the market is regaining some momentum.
Autumn has long been one of the most productive periods of the year for selling property in Prime Central London. Buyers who have spent the summer abroad return with renewed focus, and many are keen to complete a purchase before Christmas or in time for the new year. Relocating families, international buyers and those whose plans were put on hold earlier in the year are all active at this time.
The weeks between September and early December offer a valuable window. A property launched in October has time to attract viewings, secure an offer and make good progress through the legal process before the market slows over the festive period. For sellers who are ready, that can make a significant difference to how smoothly a sale proceeds.
Several factors are helping to support sentiment this autumn. The Prime Minister has ruled out the council tax and stamp duty changes that were the subject of rumour over the summer, removing one source of uncertainty. The Autumn Budget on 28 October should bring greater clarity on the government's plans, and the new Your First Home scheme, designed to help first-time buyers with a 2.5% deposit and a government-backed equity loan, could help to free up chains further down the market.
London also continues to attract strong interest from international buyers. The capital remains one of the world's most sought-after places to own property, and Westminster, Kensington and Chelsea remain particular favourites with overseas owners.
While the direction of travel is encouraging, sellers should be aware that buyers currently have a good deal of choice. Stock levels across the country are at their highest for more than a decade, and buyers are comparing properties carefully before committing. In this environment, the homes that sell well are those that stand out.
Pricing is the most important factor. A home launched at a realistic figure, based on recent comparable sales rather than the prices of a stronger market, is far more likely to attract early interest and competitive offers. An ambitious asking price, by contrast, can leave a property on the market for longer and lead to reductions that undermine its appeal.
Presentation matters almost as much. Professional photography, accurate floor plans and a home that is clean, decluttered and well maintained all help buyers to see a property at its best. In Prime Central London, where buyers expect a high standard, small improvements such as fresh decoration, good lighting and attention to outside space can make a noticeable difference.
Sellers can also help themselves by preparing early. Gathering paperwork such as lease details, service charge information, planning consents and building guarantees before a property goes on the market can save valuable time once a buyer is found. With transactions in London often taking longer than elsewhere, being organised from the outset helps to keep a sale on track.
It is also worth thinking carefully about timing. Launching a property in the first half of the autumn gives it the best chance of benefiting from the season's renewed activity, while leaving enough time to agree a sale before the year ends.
The London market is not without its challenges, and it would be wrong to expect a rapid rise in prices. But the return of rising asking prices, the seasonal increase in buyer activity and greater clarity on tax all point to a more positive environment for sellers this autumn. For owners in Prime Central London who have been waiting for the right moment, the coming weeks may offer exactly that.
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