2018 started with an abundance of activity as prospective buyers emerged from the Christmas period with renewed appetite. Rightmove reported its highest ever number of monthly web visits in January and Chestertons recorded its highest January sales figure since 2014, as pent up unsatisfied demand was released. The market lost some momentum in late February and early March when the UK was hit by some of the worst weather seen in years. Nonetheless, overall activity in Q1 represented a considerable improvement on the previous quarter.
In similar vein to its sales counterpart, the prime London lettings market experienced a buoyant start to 2018 but began to lose steam in the latter part of February, exacerbated by the onset of extreme weather conditions. Nonetheless, tenant demand rose over the quarter and although the number of transactions was slightly down on Q4 last year, it was 13% higher than that recorded in Q1 2017.
To find out more about London’s Spring 2018 property market, find our full report below.