American dream! US buyer demand for London property doubles

American investors are increasingly interested in prime London property, boosted by favourable exchange rates, the current need for diversification of portfolios and the perceived safety of the British market.  

In October, Nest Seekers International reported a 50% rise in interest for prime London real estate from US-based investors.

And now the global property brokerage has brought on board two of its American agents, Shelby Coleman, working on the East Coast, and Natalie Hernandez from the West Coast, who will be tasked with bridging the markets on both sides of the Pond throughout 2023. 

Nest Seekers claims that, as a result of the market shifts, it currently has £36 million of property deals under offer to North American buyers lined up for November. The usual suspects of Mayfair, Regent’s Park and Marylebone have been identified as prime locations. 

Investment in long-term services linking American and London markets has always been high on the agenda for 

Daniel McPeake, managing director of Nest Seekers in Europe, has long been interested in linking the American and London markets to a greater degree.

“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,” he said.

“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.” 

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

Shelby Coleman said American investors who are buying in dollars have been 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,” she said. “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.” 

Hernandez added that 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,” she said. 

“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.”