A leading wealth expert has shared how the property buyer profile has changed in the past 10 years.
Islay Robinson is the founder of ENNESS Global, a broker that specialises in helping high-net-worth individuals raise finance including mortgages.
With a new year on the horizon, the 44-year-old entrepreneur reveals that the people who enquire about high-value UK property have drastically changed.
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A decade ago, the luxury homes market was dominated by international oil tycoons and wealthy families from the Middle East or China.
But, a growing UK entrepreneur economy has influenced a new trend.
“Talking to our property partners and looking at the enquiries we received 10 years ago versus now, it is clear that the buyer profile has changed,” said Islay.
“Back then, the top end of the market was dominated by billionaires from wealthy families or those making money in oil, gas and banking.
“London in particular was dominated by Chinese or Middle Eastern clients looking for an investment home.
“Today, UK buyers make up the bulk of the action.
“The entrepreneur space is booming with a stronger focus on Brits investing in Britain again.
“Our fastest-growing area of enquiries is from entrepreneurs who have built their own business in AI and tech, as well as crypto and private equity finance.
“Or people who bet on their passion and found a profitable niche.
“As an example, one of my high-net-worth clients is a British entrepreneur who designs furniture.
“As a business owner myself, I find it inspiring to see these clients’ journeys.
“We also deal with more influencers and creators who made their fortune on social media and will loan money against their digital income to afford their dream home.”
The wealth expert also shares his thoughts on which areas the super-rich are currently looking at.
Islay said: “Our extensive network and focus on super prime properties helps us pinpoint the key prime areas of London that are likely to be future hotspots.
“Hampstead and Marylebone are topping the list, while Bayswater – where there has been a significant development focus – is starting to rise up the ranks.
“Although super-prime heritage properties such as those in Knightsbridge, Mayfair and St Johns Wood are always extremely sought-after.”
In the first six months of the year, the average property value that Islay’s agency dealt with was £20m.
Factors that are heavily impacting property purchases include school proximity – with Westminster and St Paul’s coming out on top in this category – as well as the impact of the Elizabeth Line on those who work in the City of London and Canary Wharf.
Major cultural attractions in the capital are also big draws, including five-star hotels like Peninsula in Belgravia or the Chelsea Football Club.
ENNESS Global, which has an office in Mayfair, London, offers a variety of services from mortgages to corporate finance, securities finance and crypto finance.
Rather than relying on banks to pay a fee, the company charges the client a percentage fee.
Although Islay has noticed a spike in wealthy UK individuals seeking his company’s services, he says there is still plenty of interest from across the globe in people looking for mortgage and business finance.
In recent weeks, he assisted a business owner working in the entertainment industry to purchase a home in the Balearic Islands in Spain, valued at more than €13m.
Elsewhere, a UK resident with a property portfolio worth £25m across the UK and the US is looking to raise £5m for investment purposes.
Other clients include a semi-retired tech entrepreneur leveraging £5m+ in bitcoin to raise finance to support a personal property development project, as well as an ultra-high-net-worth-individual, who owns a fleet of supercars worth upwards of €50m, securing a seven-figure sum.
Islay added: “As well as recognising what has changed over the past decade, it is equally important to consider what has remained constant.
“For individuals with complex income profiles and wealth tied up in diverse assets – irrespective of their nationality – navigating the financial landscape remains a challenge.
“This underscores the critical importance of leveraging expertise and experience to progress effectively.”