prime-central-london

Prime Central London

Prime Central London Report - Q4 2024

thumbnail

jll-residential-roundup-banner

The JLL Q4 2024 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.

<p><strong>The JLL Q4 2024 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.</strong></p>

https://res.cloudinary.com/global-cms-assets-np/image/upload/v1737731909/resi/gb/Articles/Images/Q4-PCL-2024-Hero2.jpg

Prime Central London Report - Q1 2024

jll-residential-roundup-april-19-1920x320[1]

This quarter&rsquo;s Prime Central London Report incorporates the results of our quarterly JLL Prime Central London Index, and here we outline exactly how the market has been performing since the year began.

This quarter’s Prime Central London Report incorporates the results of our quarterly JLL Prime Central London Index, and here we outline exactly how the market has been performing since the year began.

https://res.cloudinary.com/global-cms-assets-np/image/upload/v1716393736/resi/gb/Articles/Images/PCL-Q1-23.jpg

Prime Central London Report – Q4 2023

Decarbonising-UK-housing-2024

<div>Welcome&nbsp;to&nbsp;our&nbsp;Prime&nbsp;Central&nbsp;London&nbsp;Q4&nbsp;2023&nbsp;report,&nbsp;which&nbsp;tracks&nbsp;activity&nbsp;in&nbsp;the&nbsp;capital&rsquo;s&nbsp;prime&nbsp;property&nbsp;market&nbsp;during the&nbsp;final&nbsp;three&nbsp;months&nbsp;of&nbsp;2023.</div>

Welcome to our Prime Central London Q4 2023 report, which tracks activity in the capital’s prime property market during the final three months of 2023.

https://res.cloudinary.com/global-cms-assets-np/image/upload/f_auto,q_auto/v1706867375/resi/gb/Articles/Images/PCL-Report-Q4-2023.jpg

Prime Central London Report – Q3 2023

article-image-1920x320

While this year&rsquo;s British summer was a typical tale of contrasting conditions, the UK housing market experienced similar levels of changeability between July and September due to ongoing economic uncertainty.

While this year’s British summer was a typical tale of contrasting conditions, the UK housing market experienced similar levels of changeability between July and September due to ongoing economic uncertainty.

article-image

https://res.cloudinary.com/global-cms-assets-np/image/upload/f_auto,q_auto/v1698849807/resi/gb/Articles/Images/GettyImages-1446479357-edited.jpg

<div class="row">
    <h2><strong style="background-color:initial;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">Q2 2023 Sales Index</strong><br /></h2>
</div>
<p><strong></strong>The JLL Prime Central London Index saw prices fall for the third consecutive quarter.&nbsp; The Q2 2023 index recorded a quarterly fall of 2.1%, with prices 5.9% down compared with the same period in 2022. Prices are now 6.8% lower than
    they were when prices peaked in the third quarter last year.&nbsp; </p>
<p>The upper echelons of London&rsquo;s prime market are proving more resilient. With prices down 0.8% in the 12 months to June 2023 compared with a 6.7% fall in homes priced at under &pound;2 million (likely to be most impacted by changes in interest rates).
</p>
<p>Despite sentiment impacting prices we saw deals agreed (exchanges) increase in an admittedly slow Q1 this quarter, with a 28% increase in sales in Q2 2023.&nbsp; With volumes on par with Q2 2022 (down -1.2%). </p>
<p>Stock levels rose in Q2, with 8.3% more properties on the market than in Q2 2022 and 9.7% more than at the end of the first quarter this year. Stock on the market is now at the highest level since the end of Q2 2020. </p>
<h2><strong>Q2 2023 Lettings Index</strong></h2>
<p><strong></strong>The uncertainty which is hampering activity in the sales market often has the opposite effect on lettings. With households more likely to stay in rented for longer or choosing to rent when delaying their decision to buy. Just over half
    (51%) of JLL deals agreed in Q2 2023 were renewals, up from 45% a year ago and 24% in Q2 2021. This was the highest rate of renewal since Q2 2020. </p>
<p>The number of new lets rose this quarter compared with last, up 13%.&nbsp; But the second quarter is usually more active than the first. Comparing new lets agreed (excluding renewals) in the second quarter this year with Q2 last year showing there were
    18% fewer deals agreed, with the number agreed down 35% compared with the Q2 five-year average.</p>
<p>This quarter the JLL Prime Central London Index saw rents rise by 1.9%, with rents 5.4% higher than they were at the same point a year ago. Small flats (1 and 2 beds) saw this highest annual increase in rents at 6.7% whereas more expensive properties
    (&pound;3,000 per week or more) saw a more modest 2.9% annual increase. </p>
<p>Rents are now 26% higher for one-bedroom flats (which have seen the highest growth) than they were three years ago at the end of Q2 2020. With the JLL Prime Central London Rental Index 19.2% higher overall over the last three years.</p>
<p>For prospective tenants having to contend with low stock levels there appears to be some respite as we move into the summer. Stock levels are starting to increase, albeit off a low base. With the number of rental properties listed to let at the end of
    Q2 2023 up 13.8% on the same point in 2022. But volumes remain 55% down on levels we were seeing pre-pandemic in Q2 2019. </p>
<h2>All Source: JLL/ LonRes</h2>
<p><strong>Our JLL Prime Central London Index is based on a &lsquo;basket&rsquo; of properties, valued by JLL at the end of each quarter. </strong></p>
<p><strong>Director of UK Residential Research at JLL, Marcus Dixon, explains: </strong></p>
<p><em>&ldquo;The implications of stubborn inflation on the UK mortgage market are hampering activity in prime central London. While fewer buyers are heavily indebted - almost half buy cash - uncertainty surrounding the short-term outlook is impacting prices. </em><em></em></p>
<p><em>&ldquo;The lettings market remains competitive, stock levels have improved on their 2022 lows but there are still more prospective tenants than there are properties. This has resulted in further rent increases this quarter, with rents almost 20% higher than they were in 2020.</em><em></em></p>
<p><em>&ldquo;The lower end of the rental market continues to see a steady stream of (formerly) prospective buyers moving across into lettings. With smaller properties, mainly one- and two-bedroom flats, recording the highest annual increase in rents, while prices for similar properties are seeing more significant falls than homes in more expensive price bands.&rdquo;</em></p>

JLL – Prime Central London (PCL) Index – Q2 2023

treffers-road-1920x560

The recent rise in interest rates does not impact all sectors of the housing market equally.&nbsp; With more than half of all owner-occupied homes having no mortgage secured against them and cash purchase, particularly in higher value prime markets, making up a significant proportion of homes sold.

The recent rise in interest rates does not impact all sectors of the housing market equally.

Prime Central London (PCL) Index – Q2 2023

https://res.cloudinary.com/global-cms-assets-np/image/upload/f_auto,q_auto/v1688719980/resi/gb/Articles/Images/104786388.jpg

<p><a href="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1683722906/resi/gb/Articles/PDFs/PCL_Report_Q1_2023_-_V8.pdf" target="_blank"><button class="Button primary" style="text-align:center;">Download full report</button></a></p><p>A higher proportion of homes bought with cash and a sustained lack of stock in the most sought-after locations means Prime Central London (PCL) is less tied to fluctuations in UK mortgage rates.<strong> </strong>However, the central London market is not
    immune to changes in economic conditions, with sentiment rather than interest rates often having a greater impact on activity and pricing. And while Prime Central London is less reliant on debt the discretionary nature of many purchasers buying decisions
    means PCL is often more reactive to changes in sentiment and economic headwinds than mainstream, both when prices fall and when they increase.</p><p>&nbsp;For the rental market, uncertainty often increases demand with prospective purchasers holding off on their decision to purchase and renting or remaining in rented instead. We continue to see demand outstripping supply for prime homes, but there
    is more balance in the market this year than we have seen over the last 12 months. Stock levels, while still significantly lower than the pre-pandemic norms have improved, and rental growth recorded in the Q1 2023 JLL Prime Central London Index has
    returned to single rather than double digit annual growth.</p><p><a href="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1683722906/resi/gb/Articles/PDFs/PCL_Report_Q1_2023_-_V8.pdf" target="_blank"><button class="Button primary" style="text-align:center;">Download full report</button></a></p>

Prime Central London – Q1 2023

riverside1

How has the Prime Central London (PCL) housing market performed so far this year, and how much of an impact will the ongoing economic headwinds have on the sector?

<p><strong>How has the Prime Central London (PCL) housing market performed so far this year, and how much of an impact will the ongoing economic headwinds have on the sector?</strong></p>

https://res.cloudinary.com/global-cms-assets-np/image/upload/v1673446559/resi/gb/Articles/Images/PCL_2.jpg

<p><a href="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1673444524/resi/gb/Articles/PDFs/JLL_PCL_Report_Q4_2022.pdf" target="_blank"><button class="Button primary" style="text-align:center;">Download full report</button></a></p>
<p><strong>2022 was a record-breaking year for Prime Central London. Buyers spent almost &pound;5.2 billion on homes last year, the highest amount spent for more than ten years. </strong><br /></p>
<p>But Prime Central London has not been immune to political and economic uncertainty that has impacted the UK market in recent months. On one hand there is less reliance on debt in the prime market than in mainstream, meaning fluctuations in interest rates
    have less of an impact, however increased uncertainty, and a higher proportion of discretionary purchasers in PCL have resulted in prices falling back in Q4.&nbsp; </p>
<p>The JLL Prime Central London Index recorded a 3.5% quarterly fall in Q4 2022. With prices ending the year 2.4% lower than in Q4 2021. </p>
<p>The number of properties on the market at the end of Q4 2022 fell this quarter, in line with usual seasonal activity. At the end of Q4 2022 there were 2,847 homes on the market in PCL, 3% higher than the same point a year ago and down 9% compared to the
    end of Q3.</p>
<p>While prices fell in the fourth quarter there was little sign of a slowdown in sales activity. Sales volumes were 15% higher than Q4 2021, although the stamp duty holiday distorted figures last year. Taking 2022 in its entirety shows transaction volumes
    rose 6% on 2021, with 2022 the busiest year for PCL sales since 2014.</p>
<p>For the rental market<strong> </strong>stock levels across Prime Central London remain below historic levels. The number of properties available to let at the end of Q4 2022 was 13% higher than at the same point in 2021, when stock levels bottomed out,
    but remain 45% lower than in 2019. </p>
<p>Almost half (48%) of the properties let by JLL within Prime Central London in Q4 2022 were renewals, up from 37% in Q4 last year and 24% in 2019. With high rates of renewals continuing to impact both new lets agreed and returning stock levels. </p>
<p>Rents plateaued in Q4 2022 after six quarterly increases, the JLL Prime Central London Index falling 0.5% in Q4 2022 compared with the previous quarter. But rents are still higher than they were a year ago. The JLL Prime Central London Index recorded
    a 6.1% annual increase in achieved rents in the fourth quarter.<br /></p>
<p><a href="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1673444524/resi/gb/Articles/PDFs/JLL_PCL_Report_Q4_2022.pdf" target="_blank"><button class="Button primary" style="text-align:center;">Download full report</button></a></p>
<table>
    <tbody>
        <tr style="height:50%;">
            <td style="width:50%;">
                <h2><strong>Marcus Dixon</strong></h2>
                <p><strong></strong>Director of UK Residential Research<br />+44 (0)7563 380165<br />marcus.dixon@eu.jll.com</p>
            </td>
            <td style="width:50%;">
                <h2><strong>Lucy Morton</strong></h2>
                <p><strong></strong>Head of UK Residential Agency<br />+44 (0)7767 778653<br />lucy.morton@eu.jll.com</p>
            </td>
        </tr>
        <tr style="height:50%;">
            <td style="width:50%;">
                <h2><strong>Neil Short</strong></h2>
                <p><strong></strong>Director &ndash; PCL lettings<br />+44 (0)7841 199910<br />neil.short@eu.jll.com</p>
            </td>
        </tr>
    </tbody>
</table><strong></strong><strong style="background-color:transparent;color:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;caret-color:auto;">About JLL | January 2023</strong>

Prime Central London – Q4 2022

A record year for PCL, but political and economic uncertainty impacts the market in Q4.

<strong>A record year for PCL, but political and economic uncertainty impacts the market in Q4.</strong>

https://res.cloudinary.com/global-cms-assets-np/image/upload/v1673446476/resi/gb/Articles/Images/PCL.jpg

<p><button id="btn-1" class="Button primary">Download full report</button></p><p><strong>Figures from the Nationwide suggest growth in house prices nationally averaged 24% between March 2020 and September 2022. Growth in Prime Central London values has been more modest.&nbsp; With the JLL Prime Central London Index recording an average of 5.3% growth, comparing Q3 2022 with Q1 2020.&nbsp; But while we expect growth in the mainstream market will continue to slow the outlook could be more positive for prime. &nbsp;&nbsp;</strong></p><p><strong>For lettings, constrained stock levels set against the usual summer peak in new lets has meant rents rose again this quarter.&nbsp; Up 3.5% on Q2 2022 and 10.6% annually. </strong></p><p>Director of UK Residential Research at JLL, Marcus Dixon, explains: </p><p><em>&ldquo;Looking ahead it is still too early to assess what impact recent government policy announcements, and the subsequent reaction from global markets, will have on the housing market.&nbsp; Although with interest rates rising and cost of living pressures far from alleviated, we sense increased downward pressure on both prices and activity in the year ahead.&nbsp; </em></p><p><em>But we don&rsquo;t think this is necessarily the path the prime markets will follow.&nbsp; For one, purchasers are far less reliant on debt, meaning the impact of higher mortgage rates are unlikely to bite as deep as in the mainstream market.&nbsp; Secondly, prime central London attracts a significant number of overseas purchasers, and a weak Sterling exchange rate could lure prospective buyers into the market in the coming months.&nbsp; For dollar and dollar pegged currencies the case remains particularly compelling.&rdquo;&nbsp;</em></p><h2><strong>Q3 2022 Sales Index</strong></h2><p>The JLL Prime Central London Index recorded growth in achieved prices again this quarter.&nbsp; The Q3 2022 index recorded growth of 1.0% on Q2 2022, with prices up 1.7% compared with the same period in 2021. Prices are now 5.3% higher than they were
pre-pandemic in Q1 2020. </p><p>More expensive homes saw the highest annual growth, with properties priced at &pound;10m or more rising 3.8% annually compared with growth of 1.2% for homes below &pound;2 million. The top end of the market continues to record the strong growth compared
with pre-pandemic too, with prices of &pound;10m+ homes rising 11.1% compared with 2.4% for homes at sub &pound;2 million.</p><iframe src="https://flo.uri.sh/visualisation/11390788/embed" title="Interactive or visual content" class="flourish-embed-iframe" style="width:100%;height:600px;" sandbox="allow-scripts allow-same-origin"></iframe><p>Houses continued to outperform flats, although the gap is narrowing.&nbsp; Flats in Q3 2022 recorded an annual rise of 1.4% versus growth for houses of 2.8%, 1.4 percentage points difference. This compares with a 6.3 percentage point difference at the
peak in Q4 2021.</p><iframe src="https://flo.uri.sh/visualisation/11391107/embed" title="Interactive or visual content" class="flourish-embed-iframe" style="width:100%;height:600px;" sandbox="allow-scripts allow-same-origin"></iframe><h2><strong>Opportunities for overseas buyers</strong></h2><p>The price of Sterling fluctuated significantly in September.&nbsp; Bottoming out at US$1.03 but recovering after the Bank of England&rsquo;s intervention to US$1.16 by the month end. Weak Sterling exchange rates means prime central London remains an attractive
option for overseas buyers.&nbsp; Those holding dollars or dollar pegged currencies finding their money will stretch even further.&nbsp; </p><p>Rates prior to the Banks of England&rsquo;s intervention in late September would mean those buying in dollars would pay 19% less on average for a prime central London property than they would have done a year earlier and almost 38% less than they would
have paid at the peak in 2014. Chinese buyers would save almost 10% on prices a year ago and more than 27% on 2014 peak levels. </p><iframe src="https://flo.uri.sh/visualisation/11391165/embed" title="Interactive or visual content" class="flourish-embed-iframe" style="width:100%;height:600px;" sandbox="allow-scripts allow-same-origin"></iframe><h2><strong style="background-color:rgba(0, 0, 0, 0);color:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;">Q3 2022 Lettings Index</strong></h2><p>A year ago, the JLL Prime Central London Rental Index recorded the first annual increase in rents since March 2020, as stock levels fell, and tenants returned to the capital. With Q3 2021 showing a 6.5% annual increase in rents, we were expecting the
significant annual increase in rental values we have grown accustomed to more recently would begin to recede. But growth in Q3 2022 remained in double digits, rising 10.6% annually. Quarterly rents rose too, up 3.5% in Q3 2022 compared with Q2. </p><iframe src="https://flo.uri.sh/visualisation/11391497/embed" title="Interactive or visual content" class="flourish-embed-iframe" style="width:100%;height:600px;" sandbox="allow-scripts allow-same-origin"></iframe><p>Unlike the sales market, where growth was highest at the upper end, more expensive rental properties saw lower growth.&nbsp; Rents for properties priced at &pound;3,000 per week or more rising 4.1% annually in Q3 2022 compared with 12.6% for properties
priced at under &pound;1,000 per week. </p><iframe src="https://flo.uri.sh/visualisation/11391686/embed" title="Interactive or visual content" class="flourish-embed-iframe" style="width:100%;height:600px;" sandbox="allow-scripts allow-same-origin"></iframe><p><button id="btn-2" class="Button primary">Download full report</button></p><table><tbody><tr style="height:50%;"><td style="width:50%;"><h2><strong>Marcus Dixon</strong></h2><p><strong></strong>Director of UK Residential Research<br />+44 (0)7563 380165<br />marcus.dixon@eu.jll.com</p></td><td style="width:50%;"><h2><strong>Lucy Morton</strong></h2><p><strong></strong>Head of UK Residential Agency<br />+44 (0)7767 778653<br />lucy.morton@eu.jll.com</p></td></tr><tr style="height:50%;"><td style="width:50%;"><h2><strong>Richard Barber</strong></h2><p><strong></strong>Director &ndash; PCL sales<br />+44 (0)7787 573266<br />richard.barber@eu.jll.com</p></td><td style="width:50%;"><h2><strong>Neil Short</strong></h2><p><strong></strong>Director &ndash; PCL lettings<br />+44 (0)7841 199910<br />neil.short@eu.jll.com</p></td></tr></tbody></table><p data-role="resizable"><strong style="background-color:rgba(0, 0, 0, 0);color:var(--color-h2);font-size:var(--font-size-h2);text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;">About JLL | October 2022</strong></p><p>JLL is a leading global professional services firm specialising in real estate and investment management, with $16.6bn annual revenue in 2020, operations in over 80 countries and a global workforce of over 90,000.&nbsp; With over 7,000 employees and 15
offices in the UK, we support our investor, developer and occupier clients at every stage of the property lifecycle across both commercial and residential asset classes. This includes land purchase, access to capital, planning, development advisory,
leasing, building management and sales. </p><p>JLL&rsquo;s Residential and Living team consists of over 300 professionals who provide a comprehensive end-to-end service across all residential property types, including social housing, private residential, build to rent, co-living, later living, healthcare
and student housing. </p><p><sup>Disclaimer: &copy; 2022 Jones Lang LaSalle IP, Inc. All rights reserved.</sup></p><sup>Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or warranties
as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any form or by any
means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves the right to
pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.</sup>
<p>&nbsp;</p>

Prime Central London Index – Q3 2022

Bayswater-cover-image

Sales activity increases across PCL this quarter and lack of stock continues to support rental growth.

Where next for prime central London as rental growth again outperforms prices?

LinkedIn

linkedin

Facebook

facebook

Twitter

twitter

Instagram

instagram

Bayswater-thumbnail-image

https://res.cloudinary.com/jll-global-olm-np/image/upload/v1657782930/resi/uat/gb/CMS/Bayswater-thumbnail-image.png

<h3>An oversea buyer&rsquo;s guide to investing in Prime properties in London, UK</h3>
<p>Luxury properties in Prime Central London (PCL) present a solid investment opportunity for overseas buyers.</p>
<p>The financial and political stability that London affords means that, with the right advice and preparation, investing in London property could result in a springboard for your investment portfolio, a secure pension, or a route to setting your family
    up for the future. </p>
<p>Whatever your investment goals, this expert guide is designed to help. Explore the potential opportunity when investing in <a href="https://residential.jll.co.uk/prime-collection">Prime Central London real estate</a>, the attractions
    that make PCL such a desirable place to buy, and the mechanics of buying a UK property as an overseas investor or non-UK citizen.&nbsp;<strong></strong></p>
<h3>What is the size of the opportunity in Prime London properties for an investor?</h3>
<p><strong>Prime Central London real estate &ndash; sales growth</strong></p>
<p>According to the <a href="https://residential.jll.co.uk/insights/news/prime-central-london-q1-2022">JLL Prime Central London Sales Index</a> &ndash; our quarterly study into how the PCL market is performing, there was a 3.3% annual
    increase in achieved prices in Q1 2022, with prices up 0.6% on Q4 2021. Achieved prices for Q1 2022 came in at 4.7% higher than pre-pandemic (Q1 2020).</p>
<p>The same study showed a 7% annual increase in sales, making Q1 2022 the busiest Q1 for five years. Activity was predominantly driven by properties listed at between &pound;2million and &pound;5million, with sales up by a quarter (25%) on Q1 2021.</p>
<p>Post-pandemic, Londoners continue to make the return to the office, on a full time or flexible working basis, which in turn is driving demand for <a href="https://residential.jll.co.uk/prime-collection">Prime Central London flats</a>.
    Between January and March 2022, we saw a rise of 13% in the number of PCL flats sold, compared to Q1 2021.</p>
<p>With Prime Collection properties commanding strong prices, there continues to be opportunity for overseas investors who are looking to own and occupy or buy to let.</p>
<p><strong>Prime Central London real estate &ndash; lettings growth </strong><br /></p>
<p>Now is a good time to invest in the buy to let Prime Central London real estate market. Our <a href="https://residential.jll.co.uk/insights/news/prime-central-london-q1-2022">JLL PCL Rental Index</a> recorded a 15% increase in
    rents achieved &ndash; the highest annual rise in more than 10 years. <br /></p>
<p>This 15% annual increase in achieved rents also put Q1 2022 3.1% higher than Q1 2020, pre pandemic, proving that the rise wasn&rsquo;t the result of a pandemic dip. <br /></p>
<p>As always, there is movement out of and within Central London, with renters negotiating a competitive market. In 2021, some PCL tenants were in a strong position to negotiate significant rent reductions. In 2022, we are seeing many tenants appreciate
    how competitive the Prime Central London rental market is and therefore paying more to stay in exclusive locations. <br /></p>
<p>JLL research shows an 18% annual increase in the number of rent renewals across Prime Central London in Q1 2022, compared with Q1 2021, during the pandemic.&nbsp;</p>
<p><strong>Attractions in Prime Central London that make this area a unique investment opportunity</strong><br /></p>
<p>London&rsquo;s mix of the historic and the modern makes the city a truly unique place to explore, invest in and live. There is an overview of the local area and property types in Knightsbridge, Kensington &amp; Chelsea, Mayfair, Marylebone, Belgravia,
    and Westminster in: <a href="https://residential.jll.co.uk/insights/research/guide-to-investing-in-prime-properties-london-uk-jll">&lsquo;<span style="text-decoration:underline;">Are luxury properties in Prime Central London a good investment?</span>&rsquo;</a>.
    <br /></p>
<p>Prime Central London covers the following six areas:</p>
<ol>
    <li>Knightsbridge </li>
    <li>Kensington &amp; Chelsea</li>
    <li>Mayfair</li>
    <li>Marylebone</li>
    <li>Belgravia</li>
    <li>Westminster<br /></li>
</ol>
<p><br />To make sure you find the right property, in the right area, at the right price, it is critical to work with trusted experts who have in-depth knowledge of the Prime Central London real estate market.&nbsp;</p>
<p><strong>The mechanics of buying Prime properties in London as an overseas investor </strong><br /></p>
<p>According to research published in Showhouse<sup>1</sup>, overseas investment in <a href="https://residential.jll.co.uk/prime-collection">Prime Collection properties</a> collectively brought an estimated &pound;1,188million to
    the Prime Central London market in 2020. Of Prime transactions in 2020, 11% came from French nationals, 9.2% came from Hong Kong and the USA, 8.3% from China, and 7.3% from India. <br /></p>
<p><strong>Here, we answer some frequently asked questions from overseas buyers:</strong><br /></p>
<p data-list="0" data-level="1">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong>Can a foreigner invest in UK property?</strong><br /></p>
<p>Yes. In 2020, more than 40% of investment in Prime Central London&rsquo;s luxury properties came from overseas investors. Residential estate agents like <a href="https://residential.jll.co.uk/">JLL</a> are well versed in guiding
    overseas buyers through the UK buying process. <br /></p>
<p data-list="0" data-level="1">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong>What do overseas buyers need to know about the UK buying process?</strong><br /></p>
<p>The estate agency you partner with (i.e. JLL) and the conveyancing solicitor you appoint are both critical to this process. Once you&rsquo;re ready to buy, the amount you are offering to pay (your <strong>&lsquo;offer&rsquo;</strong>) is presented to
    the seller by the estate agent. You will need to be able to prove how you will fund your offer, how quickly you are looking to &lsquo;exchange&rsquo; and &lsquo;complete&rsquo; (more on these below), and who your solicitors are. <br /></p>
<p>If your offer is accepted by the seller, your solicitor will carry out the conveyancing process on your behalf. This is complex, but, in brief, your solicitor will carry out <strong>&lsquo;searches&rsquo;</strong> of the Land Registry and Local Authority
    records to examine the planning history and to look for any potential developments surrounding the property. You will also need to instruct a property surveyor to check the structural strength of the property &ndash; this is known as getting a <strong>&lsquo;survey&rsquo;</strong>.
    &nbsp;
    <br /></p>
<p>Next, the seller&rsquo;s lawyers draft a sale agreement (also known as a <strong>&lsquo;contract&rsquo;</strong>), which, once agreed by both parties, is signed by you and them. The signed sale agreements or contracts are then exchanged between your lawyers
    and theirs. This is known as <strong>&lsquo;exchange&rsquo; </strong>and means you are legally bound to proceed with the purchase and pay a deposit.<br /></p>
<p>The next step is to &lsquo;complete&rsquo; on the purchase, at which point you pay the balance of the purchase price and formal documents will be signed and dated, transferring the property from the seller to you. Your proof of ownership, known as <strong>&lsquo;title deeds&rsquo;</strong>,
    can then be found on the public register at the Land Registry. <br /></p>
<p>It is important to be aware that there are different types of ownership in the UK. <strong>Freehold</strong> means you own it completely, and <strong>leasehold</strong> means there is a time limit on the number of years you will own it for. However, many
    leaseholds are very long (up to 999 years) and freeholds can also be purchased if the freeholder is open to selling it. <br /></p>
<p>Once you have completed on a property and you become the legal owner of the property, you will be liable for <strong>Stamp Duty</strong> land tax, which is payable to the Land Registry within 30 days of completion. <br /></p>
<p><a href="https://residential.jll.co.uk/#contactus">Get in touch</a> if you are considering buying in the UK for the first time and would like our experts to guide you through this process over the phone.<br /></p>
<p data-list="0"
    data-level="1">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong>Invest, or own and occupy? </strong><br /></p>
<p>UK property tax laws can be complex, which makes it crucial to work with estate agents and conveyancing solicitors who can direct you through the process efficiently. <br /></p>
<p>Depending on whether you decide to invest in UK property to live in (own and occupy) or as an investment (buy to let), the tax implications will be different. <br /></p>
<p>Since 1<sup>st</sup> April 2021, UK non-residents purchasing residential property in England and Northern Ireland are required to pay a 2% Stamp Duty surcharge. This is in addition to: <br /></p>
<ul>
    <li>The 3% Stamp Duty surcharge on purchases of &lsquo;additional&rsquo; dwellings. This could be property you are buying as a second home or as a buy to let property;</li>
    <li>The 15% Stamp Duty rate on property purchases more than &pound;500,000 by companies; and</li>
    <li>The Stamp Duty rate for UK home buyers.<br /><br />-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong>Do you need UK residency to invest in London prime property?<br /></strong></li>
</ul>
<p data-list="0" data-level="1"><br />No, you don&rsquo;t need to be a UK resident to&nbsp;<a href="https://residential.jll.co.uk/prime-collection">buy Prime properties in London</a>, or anywhere else in the UK. Our experts can talk you through the buying process,
    tax implications, expected rental yields for buy to let investors, and much more.&nbsp;<a href="https://residential.jll.co.uk/#contactus">Get in touch</a>.</p>
<p data-list="0" data-level="1">Share your investment goals with us and our <a href="https://residential.jll.co.uk/prime-collection">Prime Central London property experts</a> can help match you to the right type, value and location of property for your needs.
</p>
<p>&nbsp;</p>
<hr />
<p><sup>1</sup>&nbsp;<a href="https://www.showhouse.co.uk/news/foreign-buyers-make-up-over-40-of-londons-prime-property-market/">https://www.showhouse.co.uk/news/foreign-buyers-make-up-over-40-of-londons-prime-property-market/</a>    <sup></sup></p>
<p><a data-sf-ec-immutable=""></a></p>

Guide to investing in Prime properties London, UK | JLL

shutterstock_793935124

An oversea buyer&rsquo;s guide to investing in Prime properties in London, UK

https://res.cloudinary.com/global-cms-assets-np/image/upload/v1664888534/resi/gb/Articles/Images/shutterstock_793935124.jpg

<h3>Are luxury properties in Prime Central London a good investment?
</h3>
<p>Property prices in Prime Central London (PCL) grew 8.1% in the year to February 2022<sup>1</sup>, compared to Hong Kong, where residential property prices declined by 2.9%, to their lowest since January 2021<sup>2</sup>. Hong Kong was also ranked as the
    least affordable housing market
    <sup>3</sup> by Demographia, which assesses house prices in relation to income across 92 major housing markets in eight world nations<sup>4</sup>.</p>
<p><strong>Prime Central London outperforms many major international markets</strong></p>
<p>While house price growth in the UK in the year to February 2022 was strongest in Wales - with growth of 14.2%, <a href="https://residential.jll.co.uk/insights/news/prime-central-london-q1-2022">London property prices</a> continued
    to increase at a strong rate (8.1%) and England&rsquo;s capital city still boasts unrivalled attractions across the six Prime Central London locations.</p>
<p>As well as boasting strong post-pandemic growth, <a href="https://residential.jll.co.uk/prime-collection">Prime Central London real estate</a> has proven to be a less volatile investment than Hong Kong&rsquo;s, for example, during
    periods of financial crisis. According to a recent article, quoting house price drops during the 2008 credit crunch, London property prices dropped 11%, compared to 50% in Hong Kong and 77% in Singapore<sup>5</sup>.</p>
<p><strong>PCL property prices are strong and growing compared to previous years</strong></p>
<p>Our quarterly research shows that residential property prices in Prime Central London were up 0.6% in Q1 2022, compared to Q4 2021, and achieving prices that are 4.7% more than in Q1 2020. <a href="https://residential.jll.co.uk/prime-collection">Luxury London properties</a>    listed for between &pound;2milion and &pound;5million saw particularly strength growth, with sales up 25% year on year.</p>
<p>The figures speak for themselves, but what are the non-financial benefits of investing in London?</p>
<p><strong>The benefits of buying Prime Central London: A quick area overview</strong></p>
<p>When it comes to investing in luxury London property, are you looking to own and occupy or buy to let? Your investment intentions will inform the best area to buy in and the right type of property for you.</p>
<p>Here&rsquo;s a quick area overview of the six Prime Central London locations.</p>
<p><span style="text-decoration:underline;">Knightsbridge</span></p>
<p>Possibly the most iconic of the six Prime Central London locations, Knightsbridge is home to a selection of high-end townhouses, unique mews properties, and luxury flats, all within touching distance of the luxury, opulence, and history of landmarks like
    Harrods, the V&amp;A, and the London Oratory.</p>
<p><span style="text-decoration:underline;">Kensington &amp; Chelsea</span></p>
<p>A designer shopper&rsquo;s paradise, the London Borough of Kensington and Chelsea boasts stunning detached family homes and spacious terraces, all on the doorstep of the high-end boutiques and designer flagship stores lining the Kings Road and Sloane
    Square.
</p>
<p>Luxury dining at the Borough&rsquo;s Michelin-starred restaurants (Bibendum, Elystan Street, and Kitchen W8) means you&rsquo;re spoilt for choice when it comes to fine dining. Properties in this area are also walking distance to the Saatchi Gallery, Chelsea
    Physic Garden, and Chelsea Embankment Gardens. Luxury properties in Kensington and Chelsea offer a feeling of space, opulence, and community within Prime Central London.</p>
<p><span style="text-decoration:underline;">Mayfair</span></p>
<p>Featuring high ceilings and a true feeling of space, Mayfair&rsquo;s luxury flats often sit within stunning period properties that have been sympathetically converted to the highest specifications.</p>
<p>New build developments in Mayfair also put you close to some of London&rsquo;s most famous streets, sights, and shopping. From the designer flagship stores along Bond Street and the quintessentially British tailoring on Savile Row, to outdoor living at
    Hyde Park, and fine dining at Claridge&rsquo;s and Browns, owning a property in Mayfair will give you the very best of city London.</p>
<p><span style="text-decoration:underline;">Marylebone</span></p>
<p>London is a collection of distinctive areas, each one boasting a unique character. Marylebone has built up a real village-like feel right at the heart of the action. Its streets are lined with al-fresco dining spots and independent retailers, and with
    fascinating art on show at the Wallace Collection, a Marylebone property is one for food lovers, those in search of unique boutique spots, and art collectors alike.</p>
<p>The area is perfect if you&rsquo;re looking to invest in the best of London period property, updated to the very highest standards for modern living.</p>
<p><span style="text-decoration:underline;">Belgravia</span></p>
<p>Luxury flats and terraced houses on quiet squares, Belgravia&rsquo;s beautiful residential north to south streets connect Hyde Park to Chelsea Embankment, while its east to west properties join up Chelsea and Westminster.</p>
<p>Home to perhaps Peggy Porschen Cakes &ndash; perhaps the London food scene&rsquo;s most Instagrammable exterior, as well as to a whole host of other beautiful, independent boutiques and eateries, Belgravia feels typically London and is popular among working
    professionals with second properties outside of the capital.</p>
<p><span style="text-decoration:underline;">Westminster</span></p>
<p>Westminster is all about incredible views of iconic landmarks. Home to stunning penthouse apartments close to Westminster Abbey, the Houses of Parliament, Buckingham Palace, and St James&rsquo; Park, Westminster offers riverside views and London living
    at its best.</p>
<p>London is the home of luxury living with properties right at the heart of the action. Prime Central London offers the perfect mix of leafy green parks, river views, iconic landmarks, and opulent retail, dining, and cultural experiences, for the discerning
    buyer.
</p>
<p>Discuss your property portfolio objectives with our <a href="https://residential.jll.co.uk/prime-collection#enquiry">Prime Central London experts</a> and we will uncover the right luxury property for you.<span style="text-decoration:underline;"> </span>&nbsp;</p>
<hr
/>
<p><sup>1</sup>&nbsp;<a href="https://www.gov.uk/government/news/uk-house-price-index-for-february-2022">https://www.gov.uk/government/news/uk-house-price-index-for-february-2022</a> </p>
<p><sup>2</sup>&nbsp;<a href="https://www.reuters.com/world/asia-pacific/goldman-sachs-expects-hong-kong-home-prices-fall-20-by-end-2025-2022-03-30/">https://www.reuters.com/world/asia-pacific/goldman-sachs-expects-hong-kong-home-prices-fall-20-by-end-2025-2022-03-30/</a>    </p>
<p><sup>3</sup>&nbsp;<a href="http://www.demographia.com/dhi.pdf">http://www.demographia.com/dhi.pdf</a></p>
<p><sup>4</sup>The study assesses house prices in relation to income in 92 major housing markets across eight nations &ndash; 1. Australia 2. Canada 3. China 4. Ireland 5. New Zealand 6. Singapore 7. The United Kingdom 8. The United States. <a href="http://www.demographia.com/dhi.pdf">http://www.demographia.com/dhi.pdf</a></p><sup>5</sup>&nbsp;
<a href="https://www.habitatinvestments.co.uk/prime-central-london-remains-one-of-the-best-global-real-estate-investments-it-is-claimed/">https://www.habitatinvestments.co.uk/prime-central-london-remains-one-of-the-best-global-real-estate-investments-it-is-claimed/</a>
<a data-sf-ec-immutable=""></a>

Investing in Prime properties London | JLL

shutterstock_1096649450

Are luxury properties in Prime Central London a good investment?

https://res.cloudinary.com/global-cms-assets-np/image/upload/v1664884636/resi/gb/Articles/Images/shutterstock_1096649450.jpg

<p><strong>Rental growth is outpacing prices again in Q2 2022, with annual growth in rents of 14.4% in prime central London (PCL). The sales market saw lower growth in prices, up 1.4% annually.&nbsp; But with more potential buyers coming forward could we see a change in the fortunes of the sales market in the coming months? </strong></p><p>Interest from prospective buyers for prime central London homes increased this quarter, JLL recording the highest number of new PCL applicants registering in Q2 2022 since pre-pandemic, up by 63% on Q2 2021. Yet this increased demand has yet to impact prices, which remain little changed this quarter, with marginal falls on Q1 and increases of 1.4% compared with the same point a year ago. </p><p>But we remain optimistic regarding the prospects for price growth in the second half of the year. Buyers in Prime Central London are less exposed to increases in living costs and interest rate rises which we anticipate will hamper growth prospects in the mainstream housing market over the coming months. And if overseas buyers return this summer as expected, alongside applicants taking the plunge to buy, we could see prices rise too.</p><p>The PCL lettings market continues to see rents increase, as prospective tenants outnumber available properties. Rents rose 2% this quarter and are up 14% annually. But applicant levels are settling, with 15% fewer prospective tenants registering in Q2 this year compared with last, meaning we could see more balance between supply and demand across the PCL market in the coming months.</p><h2 style="text-align:left;"><strong>Prime Central London sales market</strong></h2><p>A year ago, the second quarter of 2021 saw sales activity across prime central London reach record highs. Buyers were looking to complete on deals and take advantage of the &pound;15,000 saving available in the first phase of the Stamp Duty Land Tax holiday which ended on 30<sup> </sup>June.</p><img alt="" src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/pcl-transactions-volumes.jpg?Status=Master&amp;sfvrsn=5c94d276_1" sf-size="100" /><p>With no incentives in place this year we did not expect activity would rival the 2021 highs. But despite a 21% annual fall the number of properties sold in Q2 2022 sales were up 3% on Q1 2022. And if we exclude 2021, Q2 2022 saw the highest second quarter transaction volumes since Q2 2015. Compared with Q1 2022 we saw more houses transact, with 25% more sold in Q2 2022. Over the same period the number of flats sold fell 3%.<br /></p><p>The JLL Prime Central London Sales Index shows prices in Q2 2022 increased by 1.4% annually, following a 3.3% annual increase in Q1 2022. Albeit registering a modest quarterly fall, values down 0.4% on Q1 2022. But prices remain 4.3% higher than they were pre-pandemic in Q1 2020.</p><p>Houses continue to outperform flats. Small houses with up to three bedrooms saw the highest annual increase, with prices rising 4.4% annually. Larger houses with four or more bedrooms saw prices increase 3.1% over the same period. &nbsp;Flat prices saw lower growth in Q2 2022, with small flats up to two bedrooms and large flats with three or more bedrooms both recording annual increases of 0.8% compared with the same period a year earlier.</p><p style="text-align:left;">Stock levels have risen too, with the number of properties on the market at the end of Q2 2022 higher than at the end of the previous three quarters, 10% up on volumes at the end of Q1 and back to levels last seen a year ago in Q2 2021. </p><p>Looking ahead activity looks set to increase.&nbsp; The number of applicants registering with JLL PCL offices in Q2 2022 rose 63% compared with 2021 and was 33% higher than 2019 levels. We are seeing an increase in applicants willing to spend more on their prime central London property too.&nbsp; Over half (54%) of applicants registering for homes in Q2 2022 had budgets which would stretch to more than &pound;2 million, compared with 35% of prospective buyers in Q2 2021.</p><h2 style="text-align:left;"><strong>Prime Central London lettings market</strong></h2><p style="text-align:left;">A year ago, rents were starting to recover. With high stock levels and lower demand which had plagued the PCL lettings market easing as restrictions were lifted.</p><p style="text-align:left;">Indeed, we quickly saw a shift in the supply and demand dynamic. This year a shallow pool of available stock and rising demand from tenants returning to the capital has continued to drive rents up across prime central London. With agents reporting supply of smaller one- and two-bedroom flats remains particularly constrained.&nbsp; </p><p>Rents rose 2.0% in Q2 2022 compared with the previous quarter. This resulted in the JLL Prime Central London Lettings Index recording a 14.4% annual increase in achieved rents. Rents in Q2 2022 now 5.1% higher than they were pre-pandemic in Q1 2020.</p><img alt="" src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/change-in-pcl-rents.jpg?Status=Master&amp;sfvrsn=da482687_1" sf-size="100" /><p>Rental values continue to increase across all price brackets, although the highest growth is still being recorded for properties commanding lower average rental values. Properties with rental values under &pound;1,000 per week have increased in value by 15.9% while those with rental values over &pound;3,000 per week increased by 5.6%.</p><p>The number of new lets rose in Q2 2022 compared with Q1, up 15%. Yet volumes continue to lag long run averages.&nbsp; Lack of stock means competition remains strong for new stock, so we continue to see higher than normal levels of renewals as tenants are reluctant to re-enter the market. The number of properties let down 42% on Q2 2021, with lettings in the year to Q2 2022 now at their lowest level since Q3 2020 (which includes periods of lockdown).</p><p>Looking ahead there are signs that supply constraints experienced in the last nine months may be starting to ease. Levels of new supply rose again this quarter compared with Q1 2022 but are still far lower than we would expect at this point in the year. The number of properties available to let at the end of Q2 2022 17% higher than Q1 2022 but still 57% down on Q2 2021.&nbsp; </p><p>New applicants have also fallen back in Q2 2022, with 15% fewer registrations across JLL PCL offices compared with Q2 2021 suggesting we could begin to see supply and demand become more balanced as we move into the second half of the year. </p><h2 style="text-align:left;"><strong>About JLL</strong></h2><p>JLL is a leading global professional services firm specialising in real estate and investment management, with $16.6bn annual revenue in 2020, operations in over 80 countries and a global workforce of over 90,000.&nbsp; With over 7,000 employees and 15 offices in the UK, we support our investor, developer and occupier clients at every stage of the property lifecycle across both commercial and residential asset classes. This includes land purchase, access to capital, planning, development advisory, leasing, building management and sales.</p><p>JLL&rsquo;s Residential and Living team consists of over 300 professionals who provide a comprehensive end-to-end service across all residential property types, including social housing, private residential, build to rent, co-living, later living, healthcare and student housing.</p><p><sup>Disclaimer: &copy; 2022 Jones Lang LaSalle IP, Inc. All rights reserved.</sup></p><p><sup>Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or warranties as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves the right to pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.</sup></p>

Prime Central London – Q2 2022

<p><em>Two years on from the first lockdown we had hoped that 2022 would bring greater stability, allowing the much-anticipated PCL recovery to progress. Sadly, this hasn&rsquo;t come to pass, with the war in Ukraine, the ongoing impact of Covid-19 and concerns over the rising cost of living all preying on the minds of households. Yet despite a far from certain year ahead the PCL market has again proved resilient.&rdquo;</em></p><p><em>We still expect PCL to be one of the best performing markets in 2022, as the resurgence of the city continues.&nbsp; However, overseas buyers, the return of whom we are expecting to trigger a new wave of activity and price growth in PCL, may take a little longer than hoped to return.</em></p><p><em>The PCL lettings market starts 2022 in a very different position. In Q1 last year we had seen rents fall by more than 10% annually and supply levels were still climbing. But a year on and rents are 15% higher than in Q1 2021 and now exceed their pre-pandemic peak. But there are signs the market is settling and we anticipate annual growth in rents will have peaked in Q1. But with supply still below historic levels there could be room for further increases in the coming months too.</em><em></em></p>
<p><strong>PCL Sales</strong></p><ul><li>The JLL PCL Sales Index recorded a 3.3% annual increase in achieved prices in Q1 2022, with prices up 0.6% on Q4 2021. </li><li>Achieved prices now 4.7% higher than pre-pandemic in Q1 2020. </li><li>10% fall in properties on the market now compared with the quarter end in Q1 2021. </li></ul><p>There were high hopes for the PCL market at the start of 2020, with a flurry of activity prior to the first lockdown in March. Now, two years on, PCL is again seeing activity increase, although delays in overseas buyers returning to the market may mean
    the recovery is more muted than we&rsquo;d hope in the short term. </p><p>In Q1 2022 PCL recorded a 7% annual increase in sales according to LonRes, making the first quarter the busiest Q1 for five years. Activity was strongest between &pound;2million and &pound;5 million, with sales up 25% on Q1 2021. There were fewer sales
    at the top end, with homes sold for &pound;5 million or more down 10% on the same three months a year ago. &nbsp;As Londoners return to the office, we have seen demand for flats rise too, with the number of flats sold in the first three months of
    2022 rising 13% annually compared with an 11% fall in the number of houses. </p><p>Prices are rising, albeit with central London yet to experience the double-digit growth seen outside the capital over the last 12 months. The Q1 2022 JLL PCL Sales Index recorded a 3.3% annual increase in achieved prices. Prices paid in Q1 2022 now 4.7%
    higher than those achieved pre-pandemic in Q1 2020. </p><p>Stock levels have fallen this year, with the number of new instructions not keeping pace with sales. At the end of Q1 2022 there were 10% fewer properties on the market compared with the same point a year ago. Albeit with available stock levels remaining
    14% higher than in March 2019 and 16% higher than March 2020.</p><p>As restrictions were lifted last year, we had hoped the much-lauded return of the overseas buyer would begin in Q1 2022. But with the uncertainty surrounding the war in Ukraine and further Covid restrictions in Asia it appears we&rsquo;ll be waiting a
    little longer.&nbsp; Although some overseas buyers are returning to the market, demand continues to be predominantly domestic. </p><p>For overseas buyers re-entering the PCL market, combining exchange rate fluctuations with PCL price falls still makes a compelling case for investment. Comparing prices paid in US dollars shows buyers in Q1 2022 are paying, on average, 26% less in dollars
    than at the peak of the market in 2014. Chinese buyers could save an average of 22%, with those purchasing in Euros paying 14% less for PCL homes. For domestic buyers savings are more modest at 7%. </p>
<p><strong>PCL Lettings</strong><strong></strong></p><ul><li>The JLL PCL Rental Index recorded a 15.0% annual increase in achieved rents in Q1 2022, the highest annual rise for over a decade. </li><li>This follows a 10.4% annual fall a year ago in Q1 2021, when we saw achieved rents bottom out across PCL.</li><li>Achieved rents are now 3.1% higher than pre-pandemic in Q1 2020. </li><li>Stock levels down 71% on March 2021.</li></ul><p>The PCL lettings market has made up significant ground over the last 12 months.&nbsp; Rents, which bottomed out in Q1 2021 have rebounded, now 15.0% higher than they were a year ago. The highest annual growth in achieved rents since Q3 2011. Of course,
    this is off a low base, with Q1 2021 seeing rents drop 10.4% compared with pre-pandemic levels. &nbsp;</p><p>There has been a trickle of new properties reaching the market. Stock levels are higher than the historic lows we experienced at the end of 2021 but remain significantly below the long run average. &nbsp;With 71% fewer properties listed compared with
    the end of the first quarter last year and 59% lower than the 2018 to 2020 Q1 average.</p><p>With achieved rents now higher than their pre-lockdown peak, we expect a return to more normal market conditions over the course of the year. Rents rose 1.1% this quarter, down from a 3.7 % quarterly rise in Q4 2021. </p><p>Tenants, who a year ago were able to negotiate significant reductions on asking rents, are facing higher rents on renewal. In some case this is meaning tenants are leaving, however many, who see how competitive the market is, are paying more and remaining
    in situ. JLL data showing an 18% annual increase in the number of renewals across PCL in Q1 2022 compared with Q1 2021.</p>
<p><strong>Marcus Dixon &ndash; Director of UK Residential Research</strong></p>

Prime Central London – Q1 2022

neighborhood-watch-paddington-900-600

Sales volumes increased again this quarter in prime central London and both prices and rents rose as the city re-opens and buyers and tenants return.&nbsp;

Sales volumes increased again this quarter in prime central London and both prices and rents rose as the city re-opens and buyers and tenants return. 

https://res.cloudinary.com/jll-global-olm-np/image/upload/v1650259485/resi/gb/cms/News/Images/Prime%20Central%20London%20%E2%80%93%20Q1%202022/PCL.jpg

<p>The ongoing global COVID-19 pandemic has put the brakes on promising signs of early growth in Q1 and created significant levels of uncertainty. At present we anticipate more challenges ahead but overall the PCL market should bounce back as the strongest of all UK housing markets.</p>
<p>The report at present predicts a 14.4% five year sales price forecast and a 9.8% five year rental growth forecast.</p>
Want the full picture on Prime Central London&rsquo;s sales and lettings markets? Download the report here for a look at what happened in Q1 and what&rsquo;s to come:<br />
<br />
<button id="btn-1" class="Button primary">Download Report</button>

Prime Central London Q2 2020

Could_COVID-19_trigger_a_growth_in_live-work_units_2

Our latest research reviews the effect of Covid-19 on the Prime Central London market recovery and indicates how now is the best time to invest with potential positive returns over the next five years.

Our research examines where the Prime Central London property market is headed and why now is a good time to invest, read the full report here:

Prime Central London Residential Research Report for Q2 2020

<p>Our latest research reviews the effect of Covid-19 on the Prime Central London market recovery and indicates how now is the best time to invest with potential positive returns over the next five years.</p>

Could_COVID-19_trigger_a_growth_in_live-work_units

https://res.cloudinary.com/jll-global-olm-np/image/upload/v1598630689/resi/gb/cms/Research/Images/GettyImages-498709822.jpg

Site Settings[Updated]

Homepage SEO Article 1 - Properties for sale

Homepage SEO Article 2 - Properties for rent

Homepage SEO Article 3 - Get a valuation

UK Contacts

title="Price"
metric="£"
type="minmax"
name="Price"
order=1

[min_week] 
[min_week.0] 
label="No Min" 
value="" 
[min_week.1] 
label="£50 pcm" 
value=50 
[min_week.2] 
label="£100 pcm" 
value=100 
[min_week.3] 
label="£150 pcm" 
value=150 
[min_week.4] 
label="£200 pcm" 
value=200 
[min_week.5] 
label="£250 pcm" 
value=250 
[min_week.6] 
label="£300 pcm" 
value=300 
[min_week.7] 
label="£350 pcm" 
value=350 
[min_week.8] 
label="£400 pcm" 
value=400 
[min_week.9] 
label="£450 pcm" 
value=450 
[min_week.10] 
label="£500 pcm" 
value=500 
[min_week.11] 
label="£550 pcm" 
value=550 
[min_week.12] 
label="£600 pcm" 
value=600 
[min_week.13] 
label="£650 pcm" 
value=650 
[min_week.14] 
label="£700 pcm" 
value=700 
[min_week.15] 
label="£750 pcm" 
value=750 
[min_week.16] 
label="£800 pcm" 
value=800 
[min_week.17] 
label="£850 pcm" 
value=850 
[min_week.18] 
label="£900 pcm" 
value=900 
[min_week.19] 
label="£950 pcm" 
value=950 
[min_week.20] 
label="£1,000 pcm" 
value=1000 
[min_week.21] 
label="£1,100 pcm" 
value=1100 
[min_week.22] 
label="£1,200 pcm" 
value=1200 
[min_week.23] 
label="£1,300 pcm" 
value=1300 
[min_week.24] 
label="£1,400 pcm" 
value=1400 
[min_week.25] 
label="£1,500 pcm" 
value=1500 
[min_week.26] 
label="£1,600 pcm" 
value=1600 
[min_week.27] 
label="£1,700 pcm" 
value=1700 
[min_week.28] 
label="£1,800 pcm" 
value=1800 
[min_week.29] 
label="£1,900 pcm" 
value=1900 
[min_week.30] 
label="£2,000 pcm" 
value=2000 
[min_week.31] 
label="£2,500 pcm" 
value=2500 
[min_week.32] 
label="£3,000 pcm" 
value=3000 
[min_week.33] 
label="£3,500 pcm" 
value=3500 
[min_week.34] 
label="£4,000 pcm" 
value=4000 
[min_week.35] 
label="£5,000 pcm" 
value=5000 
[min_week.36] 
label="£6,000 pcm" 
value=6000 
[min_week.37] 
label="£7,000 pcm" 
value=7000 
[min_week.38] 
label="£8,000 pcm" 
value=8000 
[min_week.39] 
label="£9,000+ pcm" 
value=9000


[max_week] 
[max_week.0] 
label="No Max" 
value="" 
[max_week.1] 
label="£50 pcm" 
value=50 
[max_week.2] 
label="£100 pcm" 
value=100 
[max_week.3] 
label="£150 pcm" 
value=150 
[max_week.4] 
label="£200 pcm" 
value=200 
[max_week.5] 
label="£250 pcm" 
value=250 
[max_week.6] 
label="£300 pcm" 
value=300 
[max_week.7] 
label="£350 pcm" 
value=350 
[max_week.8] 
label="£400 pcm" 
value=400 
[max_week.9] 
label="£450 pcm" 
value=450 
[max_week.10] 
label="£500 pcm" 
value=500 
[max_week.11] 
label="£550 pcm" 
value=550 
[max_week.12] 
label="£600 pcm" 
value=600 
[max_week.13] 
label="£650 pcm" 
value=650 
[max_week.14] 
label="£700 pcm" 
value=700 
[max_week.15] 
label="£750 pcm" 
value=750 
[max_week.16] 
label="£800 pcm" 
value=800 
[max_week.17] 
label="£850 pcm" 
value=850 
[max_week.18] 
label="£900 pcm" 
value=900 
[max_week.19] 
label="£950 pcm" 
value=950 
[max_week.20] 
label="£1,000 pcm" 
value=1000 
[max_week.21] 
label="£1,100 pcm" 
value=1100 
[max_week.22] 
label="£1,200 pcm" 
value=1200 
[max_week.23] 
label="£1,300 pcm" 
value=1300 
[max_week.24] 
label="£1,400 pcm" 
value=1400 
[max_week.25] 
label="£1,500 pcm" 
value=1500 
[max_week.26] 
label="£1,600 pcm" 
value=1600 
[max_week.27] 
label="£1,700 pcm" 
value=1700 
[max_week.28] 
label="£1,800 pcm" 
value=1800 
[max_week.29] 
label="£1,900 pcm" 
value=1900 
[max_week.30] 
label="£2,000 pcm" 
value=2000 
[max_week.31] 
label="£2,500 pcm" 
value=2500 
[max_week.32] 
label="£3,000 pcm" 
value=3000 
[max_week.33] 
label="£3,500 pcm" 
value=3500 
[max_week.34] 
label="£4,000 pcm" 
value=4000 
[max_week.35] 
label="£5,000 pcm" 
value=5000 
[max_week.36] 
label="£6,000 pcm" 
value=6000 
[max_week.37] 
label="£7,000 pcm" 
value=7000 
[max_week.38] 
label="£8,000 pcm" 
value=8000 
[max_week.39] 
label="£9,000+ pcm" 
value=1000000

[min_month] 
[min_month.0] 
label="No Min" 
value="" 
[min_month.1] 
label="£300 pcm" 
value=300 
[min_month.2] 
label="£350 pcm" 
value=350 
[min_month.3] 
label="£400 pcm" 
value=400 
[min_month.4] 
label="£450 pcm" 
value=450 
[min_month.5] 
label="£500 pcm" 
value=500 
[min_month.6] 
label="£600 pcm" 
value=600 
[min_month.7] 
label="£700 pcm" 
value=700 
[min_month.8] 
label="£800 pcm" 
value=800 
[min_month.9] 
label="£900 pcm" 
value=900 
[min_month.10] 
label="£1,000 pcm" 
value=1000 
[min_month.11] 
label="£1,100 pcm" 
value=1100 
[min_month.12] 
label="£1,200 pcm" 
value=1200 
[min_month.13] 
label="£1,300 pcm" 
value=1300 
[min_month.14] 
label="£1,400 pcm" 
value=1400 
[min_month.15] 
label="£1,500 pcm" 
value=1500 
[min_month.16] 
label="£1,600 pcm" 
value=1600 
[min_month.17] 
label="£1,700 pcm" 
value=1700 
[min_month.18] 
label="£1,800 pcm" 
value=1800 
[min_month.19] 
label="£1,900 pcm" 
value=1900 
[min_month.20] 
label="£2,000 pcm" 
value=2000 
[min_month.21] 
label="£2,250 pcm" 
value=2250 
[min_month.22] 
label="£2,500 pcm" 
value=2500 
[min_month.23] 
label="£2,750 pcm" 
value=2750 
[min_month.24] 
label="£3,000 pcm" 
value=3000 
[min_month.25] 
label="£3,500 pcm" 
value=3500 
[min_month.26] 
label="£4,000 pcm" 
value=4000 
[min_month.27] 
label="£4,500 pcm" 
value=4500 
[min_month.28] 
label="£5,000 pcm" 
value=5000 
[min_month.29] 
label="£5,500 pcm" 
value=5500 
[min_month.30] 
label="£6,000 pcm" 
value=6000 
[min_month.31] 
label="£6,500 pcm" 
value=6500 
[min_month.32] 
label="£7,000 pcm" 
value=7000 
[min_month.33] 
label="£8,000 pcm" 
value=8000 
[min_month.34] 
label="£9,000 pcm" 
value=9000 
[min_month.35] 
label="£10,000 pcm" 
value=10000 
[min_month.36] 
label="£12,500 pcm" 
value=12500 
[min_month.37] 
label="£15,000 pcm" 
value=15000 
[min_month.38] 
label="£17,500 pcm" 
value=17500 
[min_month.39] 
label="£20,000 pcm" 
value=20000 
[min_month.40] 
label="£25,000 pcm" 
value=25000 
[min_month.41] 
label="£30,000 pcm" 
value=30000 
[min_month.42] 
label="£35,000 pcm" 
value=35000 
[min_month.43] 
label="£40,000+ pcm" 
value=40000

[max_month] 
[max_month.0] 
label="No Max" 
value="" 
[max_month.1] 
label="£300 pcm" 
value=300 
[max_month.2] 
label="£350 pcm" 
value=350 
[max_month.3] 
label="£400 pcm" 
value=400 
[max_month.4] 
label="£450 pcm" 
value=450 
[max_month.5] 
label="£500 pcm" 
value=500 
[max_month.6] 
label="£600 pcm" 
value=600 
[max_month.7] 
label="£700 pcm" 
value=700 
[max_month.8] 
label="£800 pcm" 
value=800 
[max_month.9] 
label="£900 pcm" 
value=900 
[max_month.10] 
label="£1,000 pcm" 
value=1000 
[max_month.11] 
label="£1,100 pcm" 
value=1100 
[max_month.12] 
label="£1,200 pcm" 
value=1200 
[max_month.13] 
label="£1,300 pcm" 
value=1300 
[max_month.14] 
label="£1,400 pcm" 
value=1400 
[max_month.15] 
label="£1,500 pcm" 
value=1500 
[max_month.16] 
label="£1,600 pcm" 
value=1600 
[max_month.17] 
label="£1,700 pcm" 
value=1700 
[max_month.18] 
label="£1,800 pcm" 
value=1800 
[max_month.19] 
label="£1,900 pcm" 
value=1900 
[max_month.20] 
label="£2,000 pcm" 
value=2000 
[max_month.21] 
label="£2,250 pcm" 
value=2250 
[max_month.22] 
label="£2,500 pcm" 
value=2500 
[max_month.23] 
label="£2,750 pcm" 
value=2750 
[max_month.24] 
label="£3,000 pcm" 
value=3000 
[max_month.25] 
label="£3,500 pcm" 
value=3500 
[max_month.26] 
label="£4,000 pcm" 
value=4000 
[max_month.27] 
label="£4,500 pcm" 
value=4500 
[max_month.28] 
label="£5,000 pcm" 
value=5000 
[max_month.29] 
label="£5,500 pcm" 
value=5500 
[max_month.30] 
label="£6,000 pcm" 
value=6000 
[max_month.31] 
label="£6,500 pcm" 
value=6500 
[max_month.32] 
label="£7,000 pcm" 
value=7000 
[max_month.33] 
label="£8,000 pcm" 
value=8000 
[max_month.34] 
label="£9,000 pcm" 
value=9000 
[max_month.35] 
label="£10,000 pcm" 
value=10000 
[max_month.36] 
label="£12,500 pcm" 
value=12500 
[max_month.37] 
label="£15,000 pcm" 
value=15000 
[max_month.38] 
label="£17,500 pcm" 
value=17500 
[max_month.39] 
label="£20,000 pcm" 
value=20000 
[max_month.40] 
label="£25,000 pcm" 
value=25000 
[max_month.41] 
label="£30,000 pcm" 
value=30000 
[max_month.42] 
label="£35,000 pcm" 
value=35000 
[max_month.43] 
label="£40,000+ pcm" 
value=1000000

Rent - Price

Price

title="Currency"
metric="currency"
type="currency-select"
name="currencyType"
placeholder="GBP (£)"
order=1
[[options]]
label="GBP (£)"
value="gbp"
[[options]]
label="EUR (€)"
value="eur"
[[options]]
label="USD ($)"
value="usd"
[[options]]
label="HKD (HK$)"
value="hkd"
[[options]]
label="CNY (¥)"
value="cny"
[[options]]
label="AED (د.إ)"
value="aed"


Currency

currencyType

title="Price"
metric="£"
type="minmax"
name="Price"
order=2

[min]
[min.0]
label="No Min"
value=""
[min.1]
label="£100,000"
value=100000
[min.2]
label="£200,000"
value=200000
[min.3]
label="£300,000"
value=300000
[min.4]
label="£400,000"
value=400000
[min.5]
label="£500,000"
value=500000
[min.6]
label="£600,000"
value=600000
[min.7]
label="£700,000"
value=700000
[min.8]
label="£800,000"
value=800000
[min.9]
label="£900,000"
value=900000
[min.10]
label="£1,000,000"
value=1000000
[min.11]
label="£2,000,000"
value=2000000
[min.12]
label="£3,000,000"
value=3000000
[min.13]
label="£4,000,000"
value=4000000
[min.14]
label="£5,000,000+"
value=5000000

[max]
[max.0]
label="No Max"
value=""
[max.1]
label="£100,000"
value=100000
[max.2]
label="£200,000"
value=200000
[max.3]
label="£300,000"
value=300000
[max.4]
label="£400,000"
value=400000
[max.5]
label="£500,000"
value=500000
[max.6]
label="£600,000"
value=600000
[max.7]
label="£700,000"
value=700000
[max.8]
label="£800,000"
value=800000
[max.9]
label="£900,000"
value=900000
[max.10]
label="£1,000,000"
value=1000000
[max.11]
label="£2,000,000"
value=2000000
[max.12]
label="£3,000,000"
value=3000000
[max.13]
label="£4,000,000"
value=4000000
[max.14]
label="£5,000,000+"
value=5000000

Sale - Price

title="Beds"
metric="bedrooms"
type="minmax"
name="bed"
order=3

[min]
[min.0]
label="No Min"
value=""
[min.1]
label="Studio"
value=0
[min.2]
label="1 bedroom"
value=1
[min.3]
label="2 bedrooms"
value=2
[min.4]
label="3 bedrooms"
value=3
[min.5]
label="4 bedrooms"
value=4
[min.6]
label="5 bedrooms"
value=5
[min.7]
label="6 bedrooms"
value=6
[min.8]
label="7 bedrooms"
value=7
[min.9]
label="8+ bedrooms"
value=8

[max]
[max.0]
label="No Max"
value=""
[max.1]
label="Studio"
value=0
[max.2]
label="1 bedroom"
value=1
[max.3]
label="2 bedrooms"
value=2
[max.4]
label="3 bedrooms"
value=3
[max.5]
label="4 bedrooms"
value=4
[max.6]
label="5 bedrooms"
value=5
[max.7]
label="6 bedrooms"
value=6
[max.8]
label="7 bedrooms"
value=7
[max.200]
label="8+ bedrooms"
value=8

Bedrooms

Beds

title="Property Type"
metric="propertyType"
type="select"
name="type"
placeholder="Any Type"
order=4

[[options]]
label="Any Type"
value=""
[[options]]
label="Flats"
value="flats"
[[options]]
label="Houses"
value="houses"
[[options]]
label="Developments"
value="developments"

Property Type

type

title="Must be"
type="checkboxes"
name="flags"
order=5

[[options]]
label="New homes"
value="new-home"
[[options]]
label="First time buyer"
value="first-time-buyer"
[[options]]
label="Coming soon"
value="coming-soon"
[[options]]
label="Stamp duty promotion"
value="reduced-stamp-duty"
[[options]]
label="Shared ownership"
value="shared-ownership"

Sale - Options

flags

Must be

title="Options"
type="checkboxes"
name="flags"
order=5

[[options]]
label="Short Term"
value="short-term"
[[options]]
label="Furnished"
value="furnished"
[[options]]
label="Unfurnished"
value="unfurnished"

Rent - Options

Options

There's the conventional way of doing things. And then, there's the JLL way. A more innovative, intelligent, and human way. Find out how you can SEE A BRIGHTER WAY with JLL.

General Enquiry

service

firstName

lastName

email

telephone

message

<p><strong>PRIVACY NOTICE</strong></p>
<p>Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.</p>
<p>Generally the personal information we collect from you are for the purposes of dealing with your enquiry.</p>
<p>We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our <a href="https://www.jll.co.uk/en/privacy-statement" target="_blank">privacy statement</a>.</p>

Contact our Agents a more personalized service, and more accurate recommendations that save time.

Valuation

valuationdate

General Enquiry(DEPRECATED)

Mount St form

Arrange View

anythingElse

date

generalEnquiry

intlDialCode

marketingOptin

submit

time

userAction

videoOption

Let us know your preferred time for a viewing and we will get in touch with you to confirm a time.

Fill out the form or call us at {{ phone }}

Arrange a viewing

<p>PRIVACY NOTICE</p>
<p>Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.</p>
<p>Generally the personal information we collect from you are for the purposes of dealing with your enquiry.</p>
<p>We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our&nbsp;<a href="https://www.jll.co.uk/en/privacy-statement" target="_blank">privacy statement</a>.</p>

Property Enquiry(DEPRECATED)

Office Form

Gated Content Form

Property Enquiry

Valuation(DEPRECATED)

Freespee PROD

Greenwich

Glasgow

Finsbury Park

Exeter

Elephant and Castle

Edinburgh

Default

City

Chelsea

Canary Wharf

Bristol

Birmingham

Kensington

Knightsbridge

Leeds

Liverpool

Lochrin Quay

Manchester Deansgate

Manchester High Street

Manchester Piccadilly

Mayfair

New Homes

One Eighty

Nine Elms

Queen Street

South Kensington

Southampton

Stratford

The Horizon SE10

The Hub

Warwick Street

Westminster

Your new home<br />for <em style="font-family:'Source Sans Pro', serif;font-weight:300;">new chapters</em>

UK Site Localisation

Meet our agents at 13 convenient locations
 across London and greater United Kingdom.

https://res.cloudinary.com/jll-global-olm-np/image/upload/v1748862271/resi/re-design/Union_header.svg

https://res.cloudinary.com/jll-global-olm-np/image/upload/q_auto/f_auto/v1739528600/Union_pvjdn9.svg

Our Locations

Insights

Our analysts turn data into actionable insights giving you an effective view of the residential property market. View and use our reports, tools and infographics.