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

Prime London Market Update

July 2021

Both June and Q2 2021 transaction volumes exceeded levels seen at previous peaks in 2007 and 2014. The lettings market also showed a more positive performance with stock levels returning to pre-pandemic levels and rents rising as supply and demand levels become more closely aligned.

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  • Sales market

    Q2 2021 was busy. 36% more properties came to the market than the same period in 2019 and there were 45% more sales of properties priced at £5 million of more on the 2015 - 2019 average.

  • Lettings market

    London's prime rental market shows signs of recovery. Rents, which in February this year had fallen 15.6% from their pre-lockdown peak in February 2020, are rising again, now 12.5% down on pre-pandemic levels.

  • LonRes charts

    Sales charts: 'Transaction volumes compared with five-year (2015 - 2019) average' and 'Change in achieved prices - Q2 2021 annual change'. Lettings charts - 'Change in new lets agreed by number of bedrooms' and 'Achieved rents - change since Feb 2020 peak'.

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