London’s Luxury Houses Are Defying Britain’s Home Sales Slowdown

19 January 2023


London’s most expensive homes are managing to defy a slowdown in Britain’s housing market.

New sales instructions for homes priced at £5 million ($6.2 million) or more were 74% higher in the final quarter of 2022 compared with the pre-Covid average, according to data compiled by researcher LonRes.

“In 2022, sales of £5 million plus homes, which account for just 8% of the prime London housing market, were 63% higher than their pre-pandemic average,” said Anthony Payne, managing director at LonRes. “It’s not surprising, therefore, that it tempted would-be sellers to put their homes onto the market.”

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