Agreed residential sales are now just 3% behind the last more normal pre-pandemic market of 2019. The recovery in recent months appears to be largely driven by sales of flats, particularly in London and other major cities, as people return to office working.
Across all property types, flat sales are up by around 11% when compared to March 2019. Sales agreed on flats alone in the capital are up 23%, compared to the same period in 20191.
According to the latest government House Price Index, the average flat or maisonette in the UK now costs £229,752, an increase of 2.7% from the same time last year, when the average price was £223,686.
1Rightmove, 2023
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