Monthly Briefing: Prime London Market - May 2024

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Report highlights

New instructions and under offers on the rise across prime London but deals taking longer to go through, while the lettings market continues its slow recovery.

Sales market

  • Buying agents’ purchasers are generally considered serious and motivated buyers. These enquiries increased steadily from early 2019 to a peak in December 2023, and in April 2024 remained within 5% of that recent high point, suggesting demand remains robust.
     

Lettings market

  • Average time on the market for rental properties across prime London has been growing since summer 2022. The low point of 44 days was reached in July 2022 and in April 2024 the average had increased to 64 days.
     

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