Prime central London transactions fall below 66 per week according to LCPAca

March 27, 2019

The latest index shows that across prime central London: –

  • Transactions have fallen below 66 a week
  • Average annual prices in February (excluding new build) in PCL amount to £1,812,051.
  • Monthly prices fall by 6.2%.
  • Prices in the last quarter fall by 12.7%.
  • Annual transactions remain just above historic lows, standing at 3,405, a fall of 16.5% over the year.
  • New build average prices now stand at £2,268,219, a 61.4% premium over existing stock.
  • Quarterly new build transactions fall by 46.1% to just 73 and prices fall by 29.6%.

Director of Benham and Reeves, Marc von Grundherr, commented:

“To paint such a dismal picture of the London market is a tad misleading and while there is currently an air of lethargy we have to remember that the prime central market in particularly has never been known for an excessive number of transactions.

It is very much about quality over quantity and we’re still seeing very strong demand from overseas investors across Asia and beyond who recognise the current climate offers great opportunity. We’ve just returned from a three-week trip to the continent and found that on the ground there was an abundance of appetite for the UK market, regardless of Brexit. So I think it’s important to remember that outside of the Brexit bubble the world keeps on turning. 

To write off the London market with such ease is somewhat foolish and the capital’s recovery following the previous market crash is testament to the stamina and resilience of the London market. While the current landscape is far ideal we are a world away from previous catastrophes and as a result, any required recovery time shall be short lived before we see London regain its crown as the go-to for UK property investment.”

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Home and Living

High Quality Modular Homes for the UK

Are you looking for added accommodation space in your garden / on your land? Modular Living Homes by tutumHOUSE offer a new way to live – minimalist in form, rich in experience. “There are approximately 9.6 million homes in the UK with a garden shed, and around 52% of the population owns one.” asgardsss There…
Read More →
Estate Agent Talk

The most stressful places to move to in the UK

With more people in the UK moving homes during summer than any other season and the average cost of moving in the UK rising to over £14,000, picking the right place to move to has become more crucial than ever. Luckily, new research from Pay Less for Storage reveals the UK cities that make life easiest…
Read More →
Estate Agent Talk

Time-Traveling Estate Agent Sequel Climbs Amazon Charts

A UK Estate Agent Currently Bringing Joy to People’s Lives – Shame He’s Fictional…   Eric Meek, the fictional estate agent created by author Dale Bradford, is back for a second outing in The Time‑Travelling Estate Agent 2, a sequel that is already climbing Amazon’s bestselling time‑travel rankings. Estate agents were recently highlighted as the third…
Read More →
Estate Agent Talk

Is it finally time for lenders to back green homes?

Andrew Smith weighs the risks and rewards Property developers are increasingly pitching green homes to lenders; however, with sales cycles slowing down and repair costs rising, is now the right time to back sustainable builds and at what price point is there market demand? Sustainability is continuing to shape our future of construction with the…
Read More →
Breaking News

Breaking Property News 24/07/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   OpticWise – digital infrastructure in commercial real estate If your building were a product, how would it perform on the user experience scale?  Week 9: Experience as Infrastructure – Designing for Human-Centric Buildings Welcome to Week 9 of our 52-week journey into the future…
Read More →
new build homes colchester essex
Breaking News

UK Housebuilding Falters as Construction Hiring Flatlines

New research from Inventory Base reveals that UK construction industry employment has increased by almost 11% in the past five years, but there has been less than 1% growth in the past 12 months. Inventory Base’s analysis of the UK construction industry shows that in 2024 (latest data available) it employed an estimated total of…
Read More →