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The Q1 2026 property market has felt steady rather than spectacular. Activity has not stalled, but both buyers and tenants have become more selective. The strongest common theme across the latest TwentyCi, Rightmove and Zoopla data is that supply has improved, affordability remains under pressure, and success now depends far more on pricing and presentation than it did during the more frantic markets of recent years.
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Westminster City Council has introduced an updated Code of Construction Practice, coming into effect in 2026, which sets out stricter rules for how building works are carried out across the borough.
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March has seen the Pimlico and Westminster property market continue to demonstrate a steady and measured performance. While global headlines and ongoing discussion around interest rates have created an uncertain backdrop, activity across both the sales and lettings markets has remained resilient. In this month’s update, we look at what buyers, sellers, landlords and tenants are doing locally, and the key trends shaping the property market across Pimlico and Westminster.
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The opening weeks of the year have brought a welcome sense of stability to the Pimlico and Westminster markets. After a prolonged period of caution through much of 2024 and early 2025, January has marked a subtle but important shift in sentiment, particularly among motivated buyers who had been waiting for clearer signals on pricing and interest rates.
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November has brought a more purposeful feel to the Pimlico and Westminster markets. After a subdued summer, buyers are returning with a clearer sense of what represents long-term value and a willingness to act when the right opportunity appears.
National commentary has started to reflect this shift. As Amanda Bryden, the head of mortgages at Halifax told The Guardian, “Looking ahead, with market activity steady and expectations of further interest rate reductions to come, we anticipate property prices will continue to grow gradually into 2026..”
Speaking to MoneyWeek Richard Donnell, executive director at Zoopla, said the “Budget bark was worse than the Budget bite” for the housing market.
“Our data shows the underlying demand to move home remains strong. With greater certainty we expect a rebound in housing market activity that builds into the new year with households who paused home moving decisions over recent months return with greater confidence.”
The FT recently noted that London house prices “fell to their lowest in almost two years” ahead of the Budget, with pressure weighing especially on high-end homes.
That mixture of improving affordability, renewed buyer interest and caution around valuation seems to align almost exactly with what we are seeing locally in Pimlico and Westminster.
