Prime Central London (PCL) property values continue to see limited movement, with nominal 0.2% quarterly price growth, compared to 0.6% in Greater London and 1.1% across England & Wales.
That’s the verdict from the London Central Portfolio (LCP) Private Office, a buying agency which also serves as an investment advisor on buy to let in the most exclusive parts of the capita.
It says PCL prices dipped by -0.9% over the 12 months to April 2025, whilst values across Greater London and England & Wales increased by 1% and 2.2% respectively.
Transaction volumes in PCL during the year to January 2025 were significantly more subdued, down by -20.9% on the previous year, averaging just 57 sales per week. According to the latest data, however from industry source LonRes, the number of prime London properties sold in Q1 rose by 12.4% compared to the same period last year,.
Therefore LCP anticipates the Land Registry data will similarly reflect a rise in transactions over the first quarter.
Whilst there has been more stock available since the turn of the year, the PCL market remains sluggish and London Central Portfolio has not seen the anticipated Springtime bounce.
Buyers remain cautious and demand has predominantly been from needs-driven buyers in the £1m to £2m bracket, rather than discretionary buyers in higher-value markets, with very little appetite from investors.
The recent volatility of global markets does seem to be encouraging international buyers and tenants to look more closely now at PCL as a safe haven choice. Whilst prices have seen limited growth in recent years, long-term forecasts are more positive, with the leading market forecasters predicting between 10% and 20% price growth in PCL over the next 5 years.
The Bank of England’s decision to cut the base rate by a further 0.25% should also have a positive impact on the market as mortgage rates continue to fall. For purchasers conscious of value for money, this change could be the catalyst they have been waiting for to finally enter the market with confidence.
This article is taken from Landlord Today