Market Report

Golden Venn’s quarterly newsletter provides an update on the London property market and insights on selected global destinations.

Spring 2023 Quarterly Market Report

Key Points

  • Prime London prices have increased just 0.1% over Q1 2023
  • The number of properties under offer 10.5% higher than the pre-pandemic average
  • Prime London annual rental growth 16.9% in March
  • Prime London average yields 4.18% in Q1 2023
  • Sterling exchange rates have reached $1.25 for the first time since June 2022

Sales Market

A wide array of sale indicators has shown little change over the past year in Prime London where prices have been broadly flat according to Savills. Knight Frank record just a 0.1% increase over Q1 2023. Savills concludes that realistic pricing is the key to driving activity levels. Leading indicators are showing that prime London […]

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Rental Market

The frenetic market of the last 18 months has calmed down but not disappeared, Knight Frank report. Annual rental growth in March 2023 was 16.9% in Prime Central London and 15.2% in Prime Outer London, which were the lowest annual changes since November 2021 and compare with 25%+ at the same time in 2022. One […]

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Fiscal Policy and Economic Backdrop

As the UK avoided a technical recession, the HM treasury’s survey of 18 economic forecasts has shown a slightly more positive outlook, although still with a wide range of predictions. Perhaps most important is that inflation is still expected to peak in 2023, which in turn should ease pressure on interest rates. The average view […]

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The Golden Venn Perspective

Key indicators show a cautious sales market, with both new instructions and buyers down. However, lenders are expecting a pick-up in demand for mortgages over the next three months as pressure on interest rates will ease with falling inflation. But we don’t expect a return to double-digit price growth any time soon. Most probably prices […]

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Quarterly Tip

Cautious Optimism

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