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Interest rates held at 3.75%

  • The Bank of England has held interest rates at 3.75% – remaining at their lowest level since February 2023
  • The decision, by the Bank’s Monetary Policy Committee, had been widely expected by economists
  • Governor Andrew Bailey says his main message is “good news”, with inflation due to fall to the Bank’s 2% target sooner than expected
  • In December, the committee cut rates from 4%, reflecting concerns over rising unemployment and weak economic growth

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FOR SALE | Randolph Crescent, Maida Vale W9 £4,950,000

A rare opportunity to own this exquisite 5-bedroom garden maisonette on one of Little Venice’s most coveted streets. Spanning an impressive 2,497 sq ft, this elegant Victorian home combines timeless character with beautifully curated modern interiors finished to the very highest standard throughout.

Highlights include a spectacular 45ft light-filled reception/kitchen, private entrance, seamless access to both your own secluded garden and the highly sought-after communal gardens, plus a luxurious principal suite opening onto a generous patio terrace.

Set moments from Regent’s Canal, Clifton Road and Formosa Street’s vibrant cafés and boutiques with Warwick Avenue Underground just a short stroll away, this is prime London living at its finest.

Five bedrooms
Private garden + communal gardens
2,497 sq ft
Maida Vale / Little Venice
£4,950,000

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11 Years in Prime London Property

Celebrating 11 years of Phillips Harrod

A huge thank you to everyone who’s been part of our story; our team partners and clients.

Here’s to everything we’ve built so far… and to many more years of creating exceptional spaces together.

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LET of the week

We are delighted to have successfully let and managed this one of a kind home for international clients of ours. With acceptable bids before coming to the open market, asking for £10,000pw. A relationship built on trust, discretion and long-term results.

This exceptional Georgian townhouse sits within a private gated collection of just ten homes, brought to life by a world-class design team including Robert Adam (ADAM Architects), Natalia Miyar, and Bradley-Hole Schoenaich. From grand, light-filled interiors and private gardens to concierge services by Harrods Estates, every detail has been thoughtfully considered.

Set in the heart of St John’s Wood, moments from Regent’s Park, Primrose Hill and Little Venice, with the West End just minutes away — a truly rare London residence.

Proud to continue delivering for our clients time and time again.

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Happy New Year

Happy New Year!

Warmest wishes from all of us at Phillips Harrod! As we welcome 2026, we want to thank you for your continued trust and partnership. It’s been a pleasure helping you with your property needs in London’s prime and super-prime market, and we look forward to supporting you with even greater success, opportunities, and personalised service in the year ahead. Here’s to a prosperous, joyful, and exciting New Year!

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Happy Holidays

As the year comes to a close, we wish you a joyful holiday season and a happy, healthy New Year. Thank you for your continued support throughout 2025; we sincerely appreciate it and look forward to working with you in 2026.

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Base rate cut to 3.75%

The Bank of England governor Andrew Bailey has timed this rate cut just before Christmas.

And while this will be welcomed for many borrowers and businesses, the Bank sent out some caution about whether the cuts would continue at the same speed next year.

It might take a lot more for the much-needed jolt of confidence and festive spirit to spread across the economy to businesses that paused investments, and consumers who sat on their savings.

It was a narrow decision, with the governor as the swing voter from hold last month to cut today. Andrew Bailey said we had “passed the peak of inflation”.

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Latest Budget 2025 Update

As seen in The Negotiator, we bring you the most up to date news from the Budget 2025:

The Chancellor has revealed two additional property taxes for the housing market within her Autumn Budget statement. This includes a ‘super council tax’ for homes worth more than £2 million, which some have called a mansion tax, alongside higher taxes for landlords earning money from properties. HMRC says the mansion tax will mean a ‘£2 million mansion doesn’t pay less tax than a family home’. This tax is expected to raise a further £400 million for Government coffers, while an extra 2% tax on property, dividend and savings income will raise some £2.1 billion.

From April 2028, owners of properties identified as being valued at over £2 million will be liable for a recurring annual charge which will be additional to existing Council Tax liability. Properties above the £2 million threshold will be placed into bands (see right) based on their property value. Charges will increase in line with CPI inflation each year from 2029-30 onwards.

This will be bad news for prime estate agencies, who already face a tough year as Government measures to reform ‘non-dom’ tax rules have seen many foreign buyers rent rather than buy particularly in London.

Unhappy
Landlords including the NRLA are also unhappy that they face more taxes following increased recent increases to Stamp Duty, and the end of tax relief on mortgage interest payments for buy-to-let mortgages. Saying she wanted the ‘wealthiest to contribute the most’ and that ‘those with the broadest shoulders should pay their fair share’ she said a landlord earning £25,000 a year from property paid £1,200 less in tax than a comparable tenant on the same income. Reeves said this imbalance was down to the different National Insurance rates paid by landlords and tenants but, rather than fix that problem, has raised the basic rate of income tax for landlords by 2%. From April 2027, the property basic rate will be 22%, the property higher rate will be 42% and the property additional rate will be 47%.

Riccardo Iannucci-Dawson, CEO of Alto said “This Budget signals a meaningful shift in how high-value homes will be taxed, and while the changes don’t come into force until 2028, the impact on confidence will be felt much sooner”. Agents operating in the £2m-plus bracket should expect increased questions from clients around valuations, pricing and future costs, especially as council-tax revaluations begin to bite. For the wider sector, the message is the same: clarity and preparation matter. Landlords and homeowners will look to agents for guidance, and the agencies that use data well, to model scenarios, track valuations and explain what the changes mean in real terms, will be the ones who build trust. Today reinforces the need for modern tools that help agents give clearer, faster answers. It’s how the best agencies will stay ahead.”

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Recent Sales and Lettings in St John’s Wood

We are incredibly proud of these remarkable lettings and prestigious sales completed across London’s most sought-after postcodes.

At Phillips Harrod, discretion, market expertise and trusted relationships are at the heart of every transaction.

Honoured to represent London’s finest homes. 🌟

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LET- Stunning 4 bedroom apartment

We’re delighted to announce the successful letting of this stunning four-bedroom penthouse — a true showcase of luxury living in St John’s Wood.

Asking price of £10,000pw

Set within a brand-new, architecturally designed gated development surrounded by beautifully landscaped courtyard gardens, this exceptional home offers unrivalled park views and a flawless contemporary finish throughout.

Contact us if you are looking for something similar.

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