Prime London Market Update - June 2021

24 June 2021

Our June report not only brings you unrivalled market analysis and trends on London's residential market but also includes market sentiment as we reveal the results from our LonRes Spring 2021 agent survey. LonRes data shows that the number of properties sold in the first five months of 2021 is the highest since 2014. For lettings, stock levels are falling and rents appear to be recovering from their lows of early 2021.

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Inside the June 2021 issue
 

Sales market update

  • Sales update - Comparing May 2021 with 2019 shows new instructions rose 33% and were up 8% on the five-year (2015-2019) May average.
  • Sales agent survey - The majority (67%) of our agents expect London to outperform the rest of the country over the next five years. We also ask about key market changes compared with H2 of 2020 and the change in demand levels by buyer-type. 
  • Sales charts - 'New instructions, under offer and sales - May 2021' and 'Change in achieved prices - January to May 2021 annual change'.

Lettings market update

  • Lettings update - The number of properties let in the three months to May are up 9% on 2019.
  • Lettings charts - 'Change in number of properties let by price band' and 'Achieved rents - annual change since Feb 2020 peak'.
  • Lettings agent survey - 68% of agents expect rents to increase over the next 12 months. Agents also share their experience of stock levels by property type as well as the change in the number of landlords looking to sell investment properties and key market changes compared with H2 2020.

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Contact

Marcus Dixon
Head of Research at LonRes
T: 020 7924 6622
E: reaarch@lonres.com

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