ixed year for prime London sales market The prime London sales market recorded a poor month in August, even allowing for the usual summer holiday slowdown. On the back of a stronger July, transactions fell in August and value growth faltered. Looking beyond the data from a single month, which has often been volatile this year, the figures for the summer and the year-to-date suggest a more neutral picture in line with 2023 and 2017-2019 (pre-pandemic) trends. August saw 7.5% fewer sales transactions than a year earlier, which was 3.3% lower than the 2017-2019 (pre-pandemic average) August average. The year-to-date sales total for the first eight months of 2024 is 2.6% below last year. Under offer numbers have fared better and the year-to-date total is level with 2023. New sales instructions in August were 8.1% higher than a year earlier but 4.1% lower than the 2017-2019 August average. Stock on the market across prime London fell slightly from its June peak but the annual change was still positive at +11.9% for the end of August versus a year earlier, and 26.3% higher than at the end of August 2019 (five years earlier)
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