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London Property Market 05 August 2020

London Property Market Report - Summer 2020

The pick-up in buyer demand since mid-May has been suprising and whether this can be sustained will largely depend on how quickly the economy recovers.

Key sales trends:

  • Strong bounce back in the number of buyers entering the market since mid-May
  • Shortage of properties on the market for sale has limited the number of people able to move
  • Prices are recovering in many locations after falling during lockdown
  • Sales of new homes fell by over one third between April and June

The lettings market however, has seen a large number of both landlords and tenants come under considerable pressure since lockdown; and again the outlook is strongly dependant on what happens in the wider economy.

Key lettings trends:

  • Tenant demand fell in early lockdown but has picked up since mid-May
  • The supply of rental properties has risen dramatically since April
  • Rents are recovering in some locations after falling heavily in the first two months of lockdown
  • Investment yields have fallen marginally

Read the full report below.

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