LonRes Research: Prime London Monthly Briefing: February 2024 LonRes Research: Prime London Monthly Briefing: February 2024

PRIME LONDON MONTHLY BRIEFING

Access the February 2024 issue from LonRes

Stay on top of the very latest developments in the February issue of the LonRes Market Briefing.

Under offers and new instructions across prime London are on the rise, but prices remain at 2014 levels. Meanwhile, pressure on rents continues to ease as values fall for a third consecutive month.

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KEY FINDINGS INCLUDE:

  • PROMISING START

    It’s been a relatively positive start as the number of properties going under offer grew by 5.4% on an annual basis in January.

  • back to reality

    The £5m+ market continued its return to more normal activity levels after a strong two years.

  • relative slowdown

    The pace of annual rental growth slowed in January... taking values 26.1% above their pre-pandemic average.

  • annual fluxes

    LonRes data for January indicated an annual fall of 11.5% in lets agreed and a 22.1% increase in new instructions.

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