The prime London sales market has continued to record robust levels of activity and price growth in the first half of 2022. Meanwhile, the rental market has rebounded from last year’s lows and rents have risen above pre-pandemic levels amidst a lack of homes available to rent. Prices across prime London are still rising although this partly reflects the rapid growth last year. However, we expect annual price growth to slow during the second half of 2022. Meanwhile, activity levels are lower than last year’s stamp duty-fuelled boom but still above pre-pandemic levels. The rental market across prime London has seen a complete reversal of fortunes from last year. A severe lack of properties available to rent is constraining activity levels and driving up rents as demand from tenants has bounced back following the pandemic.

Summer 2022