Wetherell

Not much ruffles the creamy white stucco in Belgravia and Mayfair, London’s two primest property postcodes. Yet all of a sudden, change is afoot. In a location where houses change hands for tens of millions of pounds, more property is currently available than anyone in the business can remember. Most of it, however, remains, in any conventional sense, unmarketed. It’s there, it’s for sale, but only if you know the right people. Welcome to London’s secret property market, where contacts, rather than cash, open doors.

The future is bright for sellers in prime locations. For everyone else, the outlook is more gloom Househunters will be out in force shopping for a home this year, but those lucky few able to negotiate the many challenges bedevilling the market will be ruthless customers.

The newest penthouses in Mayfair sit on the eighth floor of Avenfield House above Park Lane, with views in one direction over Hyde Park; in the other, over the area’s distinctive redbrick houses towards the London Eye and the City.

Any weakening of the pound against the dollar or euro will see further interest from abroad. However, supply of property will remain relatively low thanks to low interest rates and unemployment not affecting prime property owners. We are unlikely to see the bargain prices of 2009 again.

THERE’S living in London, and then there’s living in a London area with a truly sought-after postcode. It’s not just about status – it really is smarter, and nicer.