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

Monthly Briefing: March 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

    Prime London sales were 9.1% below their pre-pandemic average, but under offers (a leading indicator) were 10.5% higher.

  • Sales Market continued...

    Prime London house prices have fallen 2.8% over the last 12 months and are just 1.7% above their pre-pandemic levels.

  • Lettings market

    The rental market is still suffering from a severe shortage of stock. New lets are 59.4% lower than prior to the pandemic. 

  • Lettings market continued...

    Rents are still rising - they are up 8.4% over the last year.

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