Monthly Briefing: Prime London Market - May 2024

20 May 2024

New instructions and under offers on the rise across prime London but deals taking longer to go through, while the lettings market continues its slow recovery.

A few key insights: 

SALES ACTIVITY HOLDING STABLE

Sales activity in April was approximately in line with last year, falling by 0.9% compared to April 2023.

NEW INSTRUCTIONS CLIMBING

At the end of April there were 10.5% more properties available to buy than a year earlier across prime London.

RENTAL GROWTH CONTINUES TO SLOW

Annual rental growth across prime London fell slightly in April, to 2.9%.

LETS AGREED ON THE UP

LonRes data for April indicated an annual increase of 12.4% in lets agreed and a 26.8% increase in new instructions.

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