Sales Market:

• There were 30.2% fewer transactions in January than a year earlier and 20.2% fewer than the 2017-2019 (pre-pandemic) January average.

• New sales instructions in January were 2.0% higher than last year and 29.1% higher than the 2017-2019 (pre-pandemic) January average. The stock of available homes for sale at the end of January was 8.3% higher than a year earlier but has fallen back from the peak of September last year.

• Average achieved sold prices fell by 5.6% on an annual basis in January. Compared to 2017-2019 (pre-pandemic) levels, values were also 5.6% lower.

Lettings Market:

• Average rental values across prime London fell by 0.7% in January on an annual basis. This is unchanged from the December figure, and average rents are 31.0% above their 2017-2019 (pre-pandemic) average.

• LonRes data for January indicated an annual increase of 3.9% in lets agreed and a 31.5% rise in new instructions. The stock of available rental properties increased on an annual basis, with 44.0% more homes on the market across prime London at the end of January than a year earlier.

Get all the insights and download the February 2026 report below: