Prime Central London Report Q1 2017


About the report 


Both sales and lettings markets in Prime Central London have had positive starts to 2017. However, not all the news has been good. Prices increased while transaction levels remained low in the sales market. In the lettings market, activity rebounded to a two year high but rental values have yet to harden. The sales and lettings markets are still adjusting to new conditions and it may be another quarter or two before they fully acclimatise, especially now that a General Election has been called in June.

PRIME CENTRAL LONDON

Optimism in the Prime Central London sales market has improved during the first quarter of 2017 with prices rising in all but the upper echelons of the market. However, transaction activity remains low.

Sales prices rise in Q1
Sales market transactions still low
Sales demand and outlook improve
The Prime Central London lettings market has endured a difficult 12 months but there are now signs the market is picking up. Both levels of demand and transaction volumes have increased during Q1 2017.

Lettings activity hits two-year high
Rents fall again in Q1
Lettings oversupply still an issue



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Contact

Will McKintosh
Joint Head of Residential, MENA
+971 4 426 6911
will.mckintosh@eu.jll.com

Ben Stroud
Joint Head of Residential, MENA
+971 4 436 2476
ben.stroud@eu.jll.com

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