London’s property boom is over

But experts note that interest in the most expensive housing is still at a high level. London’s wealthiest homebuyers bought 92% more homes priced at £5 million or more in January this year than in January 2019. However, the number of similar properties for sale is now 15% higher, helped by the revival of the market during the pandemic. Now in the capital, particularly in areas such as Chelsea, Kensington, Mayfair and Knightsbridge, property activity is back to 2019 levels. In January 2022, sales were 37% higher than in 2019, and in January of this year they exceeded 2019 by only 3% in the luxury segment.

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