London Prime Areas See 22% Fewer Sales So Far This Year Compared to 2019
8 June 2020
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Home sales in London’s prime neighborhoods have fallen by 22% so far this year compared to the same period in 2019, halted by the coronavirus lockdown measures that shuttered the city’s real estate market until mid-May, according to a report Monday from real estate data firm LonRes.
The unforeseen spring shutdown wiped out the city’s strong start to the year, the report said.
The damage was done in the roughly six weeks between March 16 and May 31 alone, when transactions plummeted 58% compared to the same time a year earlier, the report said.