Lettings

20% fewer sales have been agreed in the capital's high-value postcodes so far this year compared to the same period in 2023, and 36% fewer than in 2022.

Chestertons has flagged a marked improvement in rental supply in the capital.

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Savills expects global prime rental prices to rise further in 2024 - but growth 'will likely remain below the historic average.'

London property prices are holding 'largely stable,' says the Royal Institute of Chartered Surveyors.

21% fewer sales have been agreed in prime London so far this year, compared to the same five-week period in 2023.

But Knight Frank's Tom Bill warns of growing uncertainty in the lettings sector.

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18% fewer prime London properties have been sold in January this year than in January 2023, according to the latest LonRes data for PrimeResi.

'The upwards trajectory in the super-prime lettings market looks set to continue,' says Knight Frank's Tom Bill, as PCL's sales market remains 'uneventful'.

The imbalance between rental supply and demand 'continues to unwind', says Savills.

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