In this last quarter, it was the upper end of the sales market that enjoyed the greatest activity. However, looking at the whole year to date, LonRes data shows that transaction levels across prime London have been high with the number of properties sold to the end of September just 3% lower than the whole of 2019. What's more, our latest under offer data, a lead indicator, suggests we could be in for a busy end of the year too.
Meanwhile, in the lettings market, the turnaround of fortunes has been dramatic. The high stock levels of a year ago are no longer, in fact LonRes September figures show that there were 68% fewer properties available than in 2020 and 38% less than in 2019. With competition for rentals soaring, discounts have fallen too.