Prime London Housing Rallied in June Following April-May Paralysis
13 July 2020
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Activity in London’s luxury housing market rebounded in June from near paralysis in April and May as the economy emerged from lockdown, according to a report Monday from data firm LonRes.
The number of contracts signed for homes in prime central London was only 5% lower in June than a year earlier, a sign of life following deeply depressed activity from mid-March to mid-May, in the wake of the global pandemic, according to the quarterly report.
Prime London prices have also proved to be more resilient than many had expected, said Marcus Dixon, head of research at LonRes, in the report. The average sale price in the second quarter was 1.2% higher than a year ago.