February signals the calm before the statistical storm this year, with lockdown announcements in mid-March 2020 significantly impacting all of our key market indicators last year. That said, the market performance seen in February this year was impressive.
Delve into the very latest findings with our March report.
February 2021 recorded an 8.8% increase in exchanges this year compared with last.
By the end of February 2021, stock levels stood 36% higher than the same point in 2020.
Following a drop in new instructions, the number of homes reaching the market in February 2021 was 1% down on 2020 levels and 10% lower than the five-year average (2015 - 2019).
The end of February 2021 saw the number of available properties remain 76% higher than at the same point a year ago.
Comparing activity in the last 12 months shows that since the start of the first lockdown there have been 14% fewer new lets agreed across prime London compared with the previous 12 months. However, increased market activity and growth is predicted as pandemic restrictions are eased.
The number of new instructions rose by 10% over the same period mentioned above.
New instructions and stock levels
Annual change in achieved prices and sales
Properties let and new instructions - last 12 months