Monthly Briefing: Prime London Market - February 2023

17 February 2023

The prime London sales market adjusts to the 'new normal', while the rental market growth shows signs of slowing. Read more...

A few key insights:

Sales market

  • Sellers are more realistic about pricing, with the highest number of price reductions recorded in January since 2018.
  • Average achieved prices across prime London fell over the year, recording a -1.4% fall.

Lettings market

  • Rental growth across Prime London fell back into single digits in January (9%) for the first time since October 2021.
  • In January 2023, rents were 18% higher than their pre-pandemic average.

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