Prime London Market Monthly Briefing June 2023

Prime London Market Monthly Briefing June 2023

Prime London sales market still quiet in May…Agreed sales volumes across prime London picked up compared to April’s figure, but in a wider context remain low. Transactions in May were down 26.7% compared to a year earlier and 6.0% below the 2017-19 (prepandemic) average. Total sales over the first five months of the year are 23.6% lower than last year and broadly in line with the 2017-2019 average (-0.7%). It’s a more mixed picture for both supply and stock. In May, new instructions across prime London were 7.9% lower than a year earlier and 0.1% below the 2017-19 average. However, the early part of the year saw higher numbers of homes coming to the market and the year-to-date figure is 5.2% up on last year and 12.3% above the 2017-2019 average.