Prime London Market Update - July 2021

21 July 2021

Both June and Q2 2021 transaction volumes exceeded levels seen at previous peaks in 2007 and 2014. June 2021 was in fact the busiest month on record for properties registered as sold on LonRes. The lettings market also showed a more positive performance with stock levels returning to pre-pandemic levels and rents rising as supply and demand levels become more closely aligned.

Inside the July 2021 issue

Sales market update

  • Q2 2021 saw 36% more properties come to market than the same period in 2019.
  • The market below £1 million was the busiest. However, there were 45% more sales of properties priced at £5 million or more on the 2015 - 2019 average.
  • Sales charts: 'Transaction volumes compared with five-year (2015 - 2019) average' and 'Change in achieved prices - Q2 2021 annual change'.

Lettings market update


  • The number of properties on the market was 3% lower at the end of June 2021 than at the same point in 2019 and 35% lower than they were a year ago.
  • New lets in Q2 2021 were down 5% on 2015 - 2019 levels, but 7% higher than 2019.
  • Lettings charts - 'Change in new lets agreed by number of bedrooms' and 'Achieved rents - change since Feb 2020 peak'.

Access the issue


Marcus Dixon
Head of Research at LonRes
T: 020 7924 6622