Savills: prime central London prices fall 0.7% in Q1 as mortgage rates and Iran war weigh
Savills' Q1 prime market data shows prime central London house prices fell 0.7% in the first quarter, with prime country houses down 0.3%. Prime central London rents rose 1.1% year-on-year and prime outer London rents 2.3%. Savills attributes the cooling to recent mortgage rate rises and uncertainty linked to the Iran conflict. The shift is concentrated at the top end — affordability conditions in the wider UK market move on different drivers.
What this means for…
Buyers· 1/3
Sellers· 2/3
Wider market· 2/3
Each axis scored 1 (minor) to 3 (major). Total 5/9.
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