September has seen the fastest annual house price growth in around two years, according to Nationwide’s latest index, with average London house prices hitting £524,685.
Recent data from Hamptons showed that falling mortgage rates are attracting first-time buyers back to the capital – this group has purchased a record 48% of homes sold in London so far this year, up from 41% in 2023 and 28% a decade ago.
Recent research from the Resolution Foundation has shown that services now account for a record share of Britain’s total exports – with London by far the biggest driver of the boom.
Savills reports that the market for London’s most expensive homes has remained strong this year, highlighting the resilience of wealthy cash buyers.