Monthly Briefing: Prime London Market - September 2024

15 September 2024

An unsettled summer as London's prime sales market slows over August. Low activity levels in prime lettings market but rental growth rises.

SALES INSTRUCTIONS REMAIN ROBUST

New sales instructions in August were 8.1% higher than last year.

£5M+ STOCK LEVELS RISE

At the end of August there were 30.1% more £5m+ properties for sale than a year earlier.

RENTS REMAIN HIGH ABOVE THEIR PRE-PANDEMIC AVERAGE

Average rents are 31.6% above their 2017-2019 average.

RENTAL STOCK GROWS ON AN ANNUAL BASIS

There were 6.0% more homes on the market across prime London at the end of August than a year earlier.