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.
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