Q1 2022 has seen a strengthening of the prime London markets. Prices – in both sales and lettings – have continued to rise, albeit at a slower rate for sales, in the first quarter of the year. Properties going under offer – a lead indicator and a barometer of the wider health of the market – have risen and overall activity levels, following last year’s stamp duty holiday, have returned to pre-pandemic levels. In the lettings market, prime London has seen the highest rates of rental price growth since LonRes records began. This in part reflects the weakness of the rental market last year, but a continuing lack of rental stock looks set to push rents higher over the course of the year ahead.
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