There’s more dire news about property values in prime areas of London.

This week there have been analyses by Knight Frank and Savills, both showing significant falls of 20% or more on the values of some homes in prime central London (PCL).

Now property data firm LonRes is echoing those agencies saying: “Sales volumes [in prime areas of London] over the first half of the year were down compared to 2025 and the long-term average.  Values fell on an annual basis as the large number of price reductions over recent months start to feed into achieved prices.”

Specifically it says average values across prime London fell by 8.2% on an annual basis in June and were 5.5% below their pre-pandemic (2017 to 2019) average level.  

And LonRes admits that this latest annual figure shows an acceleration in the pace of price falls, although it says the monthly data in 2026 so far has been broadly steady.

The average discount from initial asking price across prime London was 10.4% in June and the proportion of sold properties that had previously been reduced was 50.5%.  

There was a glimmer of light in that across prime London there were 4.8% more transactions in June than the same month a year ago, but 2.1% fewer than the 2017-2019 June average.

The number of properties going under offer was also 4.8% higher than a year ago, and 14.0% higher than the 2017-2019 June average. 

Supply growth was relatively low in June, with new sales instructions 2.2% higher than the same month last year and 13.3% higher than the 2017-2019 June average.  

Stock on the market at the end of June was 3.1% higher than June last year and 19.9% above the level five years earlier (June 2021).  

Six Monthly Picture

Transactions, or sales, in the first six months of 2026 were down 12.7% compared to the same period in 2025 and down 3.8% on 2017-2019.  

Under offer numbers are up 8.3% annually and 27.4% up on their 2017-2019 average.