Offers and instructions show signs of promise in Prime London

15 October 2020

Estate Agent Today

New instructions almost doubled across prime areas of London in September compared to the same period a year ago, while the number of properties on sale has risen for three months on the trot says property platform LonRes.

However, transaction volumes - as measured by actual exchanges - remain 18 per cent lower than in September 2019 while average discounts are still relatively high at 7.2 per cent.

“With the very real threat of further government restrictions this autumn, people’s homes have become more of a haven than ever. Our homes are having to work harder doubling up as places to live, work and play (in a law-abiding manner)” explains Marcus Dixon, head of research at LonRes.

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