The prime London pandemic boom is over

16 February 2023

Estate Agent Today

Analysis by the property data company shows the number of prime London properties seeing price reductions in January 2023 was the highest for that month since 2018.

It is the top end of the market that has seen the biggest increase in price reductions compared to last year, LonRes said, suggesting this could reflect the increase in available supply.

Prime London sales fell to 23% below 2019 levels in December, according to the research, but have bounced back in January 2023 to 3% higher than the same month in 2019.

However, the equivalent sales figure for January last year was 37% higher.

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