Sales

Coutts bank has highlighted some prime London locations that have seen notable shifts in property buying activity compared to pre-pandemic times.

Asking prices have fallen for the first time this year, driven by declines at the top-end, but Rightmove is predicting an Autumn bounce for the property market.

Kensington & Chelsea was home to six of the top ten London wards with the highest levels of inflation last year - one of which posted a seven-figure increase in the average price.

"Happy holiday for luxury London property", declares Coutts bank, as the prolonged Stamp Duty tax break drives record sales in the capital.

Prospective Hillbillies are offering up to £1m above pre-pandemic levels, and houses are not even making it to the open market, reports Winkworth.

Savills analyses prices around the capital’s most cherished green spaces.

‘The current housing market heatwave may still have a while to run yet’, says portal.

"The overall tone to the market remains firm", says the RICS, with property prices continuing to rise despite a drop in new buyer enquiries.

Apartments across Great Britain are looking like good value, says Rightmove, at least when compared to detached houses, which have seen average asking prices rocket over the past 18 months.

The capital’s share of the high-value market has fallen below half for the first time on record.

The North West is still at the top of the regional table with annual inflation of 15.8%, while the capital has barely moved.

Runaway property price growth in the regions is likely to soften from next year, predicts Savills, while Prime Central London prices are set for a sharp upwards bounce once international travel resumes.