Sales Prime London property market Q3 2019

We know that politcal and economical uncertainty has haunted the housing market since the EU Referendum and our 100 + UK KW associates have highlighted the need for greater certainty of the UK’s economic direction to persuade people to start moving home again.

Could Boris Johnson's landslide win mean there will be more stability in the housing market - at least in the short term? With this question in mind we Recap the residential sales report from Lonres Q3 2019 and what can we expect for 2020 for London Prime areas .

The rise in buyer activity in Q3 2019 bodes well for further improvements once the Brexit fog begins to lift. Agents appear to agree, with 72% of our fellow LonRes agents expecting prices to be the same, or higher, in 12 months time. Less than one in five expect fewer transactions in the next year compared to the last.

Some key take away's from our partners Lonres Autumn 2017 property sales overview report include:

Transactions across prime central London (PCL) rose 14% in the third quarter of 2019 

  1. The market below £2 million was particularly buoyant
  2. Homes sold at £5 million or more fell 25% in Q3 2019 compared to the same three months a year ago
  3. Overseas buyers appear to be returning to the prime markets
  4. Across our three prime areas there were 14% fewer homes on the market at the end of the third quarter compared with the same point in 2018

(Ref Lonres)

Disclaimer - My City Nest provides this Lonres data "as is". The burden for fitness of the data relies completely with the user and is provided for informational purposes only. No warranty, express or implied, is given relating to the accuracy of content of Lonres data and My City Nest Ltd does not accept any liability for error or omission.