Monthly Briefing: Prime London Market - September 2023
20 September 2023
Sales figures reflect a quiet summer, while record-breaking rents indicate continued growth in the rental market. Keep up to date with the latest developments in your September Market Briefing.
ABOVE AND BELOW A QUIET SUMMER RECORD-BREAKING RENTS RISE AND FALL A few key insights:
Average achieved sold prices fell by 1.0% compared to a year earlier, a slower pace of decline than last month.
New instructions were down 16.5% compared to last August and the number of properties going under offer fell by 17.1%....
Average rents across prime London grew by 8.8% on an annual basis in August, taking them to the highest level ever recorded...
... [there was] a 6.5% increase in new instructions, with activity remaining at around half of pre-pandemic levels.
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