Froth comes off prime London sales market as normality returns
13 July 2022
//php print ($title); ?>
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.