Summer Market Update: Mayfair
- Amit Patel
- Aug 12, 2024
- 1 min read
Good Morning wherever you are.
Elections are over and a majority government is in place, while we remain cautiously optimistic there has been a clear shift in sentiment since the election further bolstered by the first reduction in interest rates recently by the Bank of England.
Supply is increasing across all price points. For Prime London, analysis of LonRes data shows new instructions were 9.7% higher in Q2 than Q2 2023, while for £5m+ the increase over the same period was 38.5%. At the end of June, there was 12.7% more stock on the market for sale across prime London than a year earlier, with 25.8% more £5m+ properties for purchase.
Investors are drawn to Mayfair for its status, historical charm, and strong potential for capital appreciation and rental yields. To know more information about activity in Mayfair download our Market Update Below.
DOWNLOAD YOUR FULL COPY HERE
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