The prices for flats in London are now below their 2017 values per square metre. This is according to a comprehensive analysis of more than one million property transactions. The collected data shows that the current square metre price for flats is £6,639. Nine years ago, this value was still £6,787.
This development marks a significant correction in the London housing market, particularly in the condominium segment. The decrease of £148 per square metre since 2017 indicates an adjustment that affects investors and owners alike. While other real estate segments in London may show different dynamics, this analysis explicitly focuses on the residential market and its specific price development.
Data basis and historical development
The underlying data is based on a detailed evaluation of over one million property transactions, encompassing the purchase and sale of flats across the entire London metropolitan area. This extensive sample allows for a precise representation of price development over a longer period. The fact that 2017 values serve as a reference point underlines the lasting impact of that period on the current market situation.
The nine-year period, covering comparison data from 2017 to the present, has seen various economic and social changes in the UK and specifically in London. These external factors, including interest rate adjustments, regulatory changes, and general economic development, may have contributed to the observed price trend. The current valuation thus reflects a complex interaction of these influences, which has led to a reassessment of London residential properties.
- —Current square metre price: £6,639
- —Square metre price 2017: £6,787
- —Number of analysed transactions: Over 1 million
For participants in the London real estate market, this data collection is of considerable relevance. It provides a clear indication of the current valuation landscape for flats and can serve as a basis for future investment decisions. The price correction should be considered an important factor in all strategic considerations concerning the purchase, sale, or financing of flats in London.
