Prime London Market Update
Spring 2022
Q1 2022 has seen a strengthening of the prime London markets. Prices – in both sales and lettings – have continued to rise, albeit at a slower rate for sales, in the first quarter of the year.
Properties going under offer have risen and overall activity levels, following last year’s stamp duty holiday, have returned to pre-pandemic levels.
In the lettings market, prime London has seen the highest rates of rental price growth since LonRes records began.
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Sales marketThe latest LonRes Index shows prices across all LonRes prime areas rose 5.2% in the year to Q1 2022. -
Sales charts
Average prices were unchanged in the latest quarter, reflecting the differing fortunes of flats and houses in the current market.
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Lettings market
With annual growth of 22% across the whole of prime London, these growth rates surpass those recorded during previous highs.
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Lettings charts
Rental growth looks set to stay higher than pre-pandemic trends.
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