Sales Market:

• There were 31.2% fewer transactions in February than a year earlier and 14.7% fewer than the 2017-2019 (pre-pandemic) February average.

• New sales instructions in February were 5.4% higher than last year and 34.8% higher than the 2017-2019 (pre-pandemic) February average. The stock of available homes for sale at the end of February was 10.3% higher than a year earlier but has fallen back from the peak of September last year.

• Average achieved sold prices fell by 10,0% on an annual basis in February. Compared to 2017-2019 (pre-pandemic) levels, values were also 8.2% lower.

Lettings Market:

• Average rental values across prime London fell by 0.5% in February on an annual basis. This is in-line with the December and January figure, and average rents are 32.7 % above their 2017-2019 (pre-pandemic) average.

• LonRes data for February indicated an annual increase of 39.1% in lets agreed and a 26.6% rise in new instructions. The stock of available rental properties increased on an annual basis, with 38.7% more homes on the market across prime London at the end of February than a year earlier.

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