John Stepek

Well, look, someone paid 260 odd million for a house for Nick Candy's house two weeks ago, a house sold in St.

John's Wood for 40 million pounds, record pricing.

uh which is four thousand pounds a square foot uh the owner of the founder of nike bought a house in notting hill not long ago again setting a record price so people are still paying full prices for the best of the best on on the fact that london will always be london but i think the general market the biggest fear out there is is the left-leaning government that we have and and its position and the way it's leaning may may be getting worse

But I think that more people moving back from, say, Dubai, even on a semi-permanent basis, renting for six months, thinking maybe I'll spend some time in London and see what happens in the Middle East before I go back, is good for London because the restaurants are full, people are getting paid.

That's good for the service sector.

And the idea that Dubai is suddenly this nirvana that everyone wants to live in has definitely been a negative impact on London.

And that might be balancing out a bit.

Look, we've still got great education.

We've got great time zone.

We've got, I'd love to say great rule of law, but even that is becoming...

Some of the events in retail, it's amazing when you're outside of the UK and the chatter that you hear about the UK from people who don't live here, you would think it was apocalyptic, the way people talk about it.

Oh, you live in London?

Really?

Is it safe?

It's bizarre.

Yeah, I think that's worked its way through the system.

The strange thing about London is there's very little panic selling.

Most people who own a home have taken it on the chin that they've lost 30 or 40%, but they're not really in the mood to crystallise that.

And...

and don't really have to.