Despite an overall slowdown in prime property demand and prices, those with character and quality remain sought after. “There has been discounting happening to get new developments sold, particularly when it comes closer to completion,” says a property specialist. “Yet what has been most popular is anything with character and heritage.” Even though the number of buyers is low, the buyers who are out there are willing to pay for top quality. It is believed that luxury new-builds are at the peak of supply in London, and that in the next two to three years a shortage will emerge because of the lower number of new starts and the slower pace of completions.