LonRes Research: Prime London Market Update - February 2021

Prime London Market Update

February 2021 issue

For lettings, the flurry of activity we saw in the fourth quarter has slowed, albeit with the number of new lets in January remaining above 2020 levels. More properties sold this January too, though both new instructions and homes put under offer were lower this year than last.

  • SALES MARKET

    The first month of 2021 saw the number of new instructions fall by 15% compared to January 2020. However, as we ended the month overall stock levels were up 42% compared with the same period last year.

  • LETTINGS MARKET

    In welcome news for landlords, the number of properties reaching the market to let in January rose just 2% on January 2020 and remained 24% lower than the average between 2015 and 2019%.

  • LONRES CHARTS

    For sales: 'New instructions, stock levels and properties put under offer - annual change' and 'Achieved prices - £ per square foot'. For lettings: 'Properties available to let and new instructions - annual change' and 'Achieved rents - annual change'.

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