Price falls for houses in prime central London locations have slowed over the last year, according to LonRes.
Transactions were 26% lower in the first quarter compared with the year-earlier period, which coincided with a rush to buy ahead of stamp duty changes.
Even taking this into account, transaction volumes are still lower than would be expected at this time of year, Marcus Dixon, head of research at LonRes, said. The limited number of new homes coming onto the market – down nearly 25% compared with a year earlier – make further significant prices falls unlikely any time soon.
