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RESEARCH

JLL PCL Report - Q1 2026

The JLL Q1 2026 Prime Central London Report tracks activity across the central London housing market. The report incorporates the results of our quarterly JLL Prime Central London Index.

The JLL PCL index recorded a 2.2% fall in prices quarter-on-quarter, with annual prices 8.7% lower. The PCL market navigated a challenging first quarter, with global volatility having dampened early-year optimism. The conflict in the Middle East has since undermined consumer confidence and buying power, effectively putting the market back on the go slow we experienced in 2026.

In contrast to the sales market, the lettings market has shown more resilience, with 13% more homes let in Q1 this year than in Q1 2025. But elevated stock levels have limited the potential for significant rental growth in the short term. Prime Central London rents remained in line with Q4 and were up 0.2% annually in Q1 2026.

 

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