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Report highlights
In this Spring Edition of the Prime London Market Update, you’ll get exclusive insights into the ebbs and flows of the London sales and lettings markets – with commentary from LonRes agents, through our Spring Agent Survey.
The survey collected market sentiments from over 500 agents across prime London, providing a reflection of their experiences on the ground, insights into buyer and renter profiles, as well as agents forecasts for the year ahead – and much more.
Sales Market
- Sales volumes across prime London rose by 12.4% in Q1 compared to the same period last year.
- New instructions were 20.3% higher in Q1 than Q1 2024 for prime London as a whole.
- Despite the recent track record for prices, the majority of agents responding to our survey do not expect values to end the year down. But the overall view is relatively balanced: 40% of respondents predicted a rise while 29% think prices will fall.
Lettings Market
- Rents in prime Central London rose by 8.3% on an annual basis.
- The average yield across prime London was 4.88%, up from 4.56% in Q4 2024.
- 70% of respondents to our survey thought rents would rise in 2025, with 50% opting for growth of 1 to 5% (chart 9). Despite the strong start to the year, around 1 in 7 agents (14%) forecast a fall in rents and a further 16% thought they would end 2025 unchanged.
