Prime London sales market slows by less than the rest of the UK

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Prime Central London property prices fell 0.9% in the year to July, according to Knight Frank's last index - which was the largest drop since April 2021. Prime Outer London saw a 0.2% decline - the first fall since March 2021.

Written by

Tom Bill

Head of UK Residential Research at Knight Frank

Tom Bill is Head of UK Residential Research, producing reports that include Knight Frank’s flagship Prime Central London indices, the Super Prime London Insight and the London Residential Review. He has written detailed reports on London sub-markets and contributes to The Wealth Report and Global Cities report. Tom, a former Bloomberg and Reuters property journalist, is a regular media contributor on the London property market and has presented at events in Europe and the Middle East.

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'The economic mood has darkened but the market is far from grinding to a halt,' says Knight Frank's research chief, Tom Bill - although 'the air continued to slowly come out of the prime London property…
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'The story of low supply in the prime London lettings market appears to be coming to an end,' says Knight Frank's research head.
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Following cuts to Knight Frank's property price forecasts, the firm's Head of Residential Research Tom Bill provides a sit-rep on prime London markets right now.