LonRes Research: Prime London Market Briefing - Jan/Feb 2023 LonRes Research: Prime London Market Briefing - Jan/Feb 2023

Monthly Briefing: February 2023

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The prime London sales market adjusts to the 'new normal', while the rental market growth shows signs of slowing. Read more below.
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  • Sales market

    Sellers are more realistic about pricing, with the highest number of price reductions recorded in January since 2018.
  • Sales Market continued...

    Average achieved prices across prime London fell over the year, recording a -1.4% fall.

  • Lettings market

    Rental growth across Prime London fell back into single digits in January (9%) for the first time since October 2021.

  • Lettings market continued...

    In January 2023, rents were 18% higher than their pre-pandemic average.

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