Froth comes off prime London sales market as normality returns

13 July 2022

Prime Resi

London’s prime property market appears to be settling into something approaching normality.

Fresh data from LonRes shows activity levels in the first half of 2022 were 29% down on the same period last year – when the end of the stamp duty holiday sent sales soaring. But that doesn’t mean things have been slow. Levels were still 19% up on those seen during the first halves of the three years leading up to the pandemic.

The top-end – defined as above £5mn – is still flying, with activity in line with 2014 levels and sales in the year to June 11% higher than during the same period last year. Compare this to the £2-5mn range, where activity is currently just 1% higher than at the same point last year.

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