Monthly Briefing: Prime London Market - December 2023
19 December 2023
Emerging positive signs in prime London sales market as economy stabilises. Rents still rising but rate of rental growth slows to two-year low. Keep up to date in your December Market Briefing.
KEEP IT IN PERSPECTIVE Transactions were down 32.1% in November compared to November last year – but 2023 sales look likely to end the year only slightly below their long-term average. TAKING STOCK ...combination of recent supply and demand activity means that there was 5.9% more stock on the market across prime London at the end of November than a year ago. ON THE UP In the £5 million plus market new instructions rose slightly compared to a year earlier, by 1.4%. STAY HIGH The pace of annual rental growth slowed to 6.9%, in November. However, rents remain 31.9% above their 2017-19 (pre-pandemic) average. FOLLOW THE INSTRUCTIONS Much needed stock levels continued to rise in November with new instructions increasing by 14.5% on the same time last year. A few key insights
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