Prime Central London Report - Q2 2023

Our Q2 2023 Prime Central London Report uncovers how the market is performing in the face of the UK’s ongoing stubborn inflation levels, rising interest rates and economic uncertainty.

While Prime Central London (PCL) is, in many ways, in a class of its own compared with the wider housing sector, uncertainty surrounding the short-term outlook is impacting prices.

We analyse both the sales and lettings market in PCL, offering insight into current buyer and tenant trends, as well as supply and demand in the market. Meanwhile, we also examine the differing performances of houses and flats, which have become more polarised when comparing property prices with rental prices.

That being said, with more than half of all owner-occupied homes in PCL having no mortgage secured against them, and cash purchases continuing to make up a large proportion of sales between April and June, it seems that the recent mortgage rate hikes will have less of an impact on this part of the housing market.

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