Prime London Market Update - Autumn 2022

17 October 2022

In our latest Prime London Market Update we report on the current challenges in the sales and lettings markets, but there are some interesting opportunities starting to reveal themselves this Autumn too.

As we jump into Autumn, the prime London rental market continues to face the issue of limited stock. But, while the supply of homes available to rent is limited, tenant demand remains strong.

Meanwhile, over in sales, the events of the last two weeks have added an unwelcome degree of uncertainty to the UK’s economy and housing markets. But the fallout has also created an opportunity for some, with new instructions rising and the number of properties under offer both higher than the same period last year. 

Sales Market: 

  • New instructions were up 8% compared to the same quarter last year. 
  • Properties under offer and sold were up 23% and 20% retrospectively. 

Lettings Market: 

  • New instructions during the third quarter of 2022 were 21% lower than the same period last year.
  • Properties under offer were 29% lower. 

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