2022 was a mixed year for the prime London residential market. The first three quarters saw the continuation of the post-pandemic boom with rising prices and robust levels of activity. However, the political turmoil and resulting financial market stress put a dampener on the market in the final quarter of the year. Despite the turmoil, prices rose to just below their previous peak during 2022 and the top-end of the market boomed while demand for houses fell slightly relative to flats.
The prime London rental market continues to report new record highs for rents. Rental growth rates have eased but average prices are still rising thanks to a lack of homes available to rent and strong demand from tenants.
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