Monthly Briefing: Prime London Market - June 2024

17 June 2024

Price reductions and new supply add to buyer choice in prime London sales market. Prime lettings growth slips but values remain high.

BUYER DEMAND REMAINS ROBUST

The number of properties going under offer increased in May, it was up 4.1% compared to the same month last year.

NEW INSTRUCTIONS ON THE RISE

New instructions in May rose by 12.1% on an annual basis.

RENTAL VALUES REMAIN STRONG

Growth of 1.1% is the lowest rate since August 2021, but values are still 28.3% above their 2017-2019 average.

LETS AGREED ON THE RISE IN MAY

LonRes data for May indicated an annual increase of 4.7% in lets agreed and a 4.3% increase in new instructions.