LonRes Research: Prime London Market Update - October 2021 LonRes Research: Prime London Market Update - October 2021

Prime London Market Update

- October 2021 -

In this last quarter, it was the upper end of the sales market that enjoyed the greatest activity. However, looking at the whole year to date, LonRes data shows that transaction levels across prime London have been high with the number of properties sold to the end of September just 3% lower than the whole of 2019. 

Meanwhile, in the lettings market, the turnaround of fortunes has been dramatic. The high stock levels of a year ago are no longer, in fact LonRes September figures show that there were 68% fewer properties available than in 2020 and 38% less than in 2019. With competition for rentals soaring, discounts have fallen too.

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  • Sales market

    In Q3, sales at £5 million+ were 39% higher than the 2015 to 2019 average

  • Sales charts

    Transaction volumes - 2021 compared with 2015 to 2019 average  |  Annual change in achieved prices

  • Lettings market

    Year to date, there have been 15% fewer new listings compared with 2020, and 27% fewer than the five-year (2015-2019) Jan to Sept average

  • Lettings charts

    Achieved rents - change since Feb 2020 peak and annual change  |  Properties on market to let - Sept 2021 compared with 2020 and 2019

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