Monthly Briefing: Prime London Market - March 2023

16 March 2023

A few key insights:

Sales market:

• Prime London sales were 9.1% below their pre-pandemic average, but under offers (a leading indicator) were 10.5% higher.
• Prime London house prices have fallen 2.8% over the last 12 months and are just 1.7% above their pre-pandemic levels.

Lettings market

• The rental market is still suffering from a severe shortage of stock. New lets are 59.4% lower than prior to the pandemic. 
• Rents are still rising - they are up 8.4% over the last year.

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