Prime London demand resilient but slow to turn into agreed deals. The prime London sales market showed signs of improvement in April, with average achieved prices up on March. Transactions remain subdued when measured only by exchanges, but under offer numbers are improving and other indicators suggest that demand is relatively stable. On the supply side, new instructions continue to rise and available stock is growing steadily. Average values, based on achieved £ per sq ft figures, fell by 2.5% in April on an annual basis, leaving prices approximately in line (+0.1%) with pre-pandemic levels (2017-2019). Average monthly prices have risen twice in a row, suggesting that we may have passed the low point in values for now.
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