London still lagging behind

15 Jun 2022

Sales rate in London vs the rest of England & Wales

The fortnight in five seconds

  • London market trails the rest of the UK
  • Where to find the best rental yields
  • Market view: stalemate ahead?
  • Movewise news: read our guide to new EPC rules for rentals

London market trails the rest of the UK  

At Movewise we gather around a million data points from property listings and sales every single day, and crunching the numbers reveals a lot about the state of the market. This week we took a look at the sales rate (that is, the number of sales as a proportion of the number of active listings) across different regions of England and Wales. As the chart above shows, properties in London are much less likely to sell than elsewhere in the UK: as of today, the sales rate is just 49% in the capital.

Across England and Wales as a whole. the average sales rate is 67%, down from 71% at the end of January. Wales continues to be the top performer, while on a more detailed regional level, west is best: the South West, North West and West Midlands show the highest sales rates of the English regions.

Where to find the best rental yields

 As official sales partner of the National Residential Landlords Association, we've also been keeping a close eye on the rental market. A recent report by InventoryBase revealed how average yields vary across the country. Returns on rental property are lowest in the East of England, at just 3.04%, with London (3.47%) and the South East (3.11%) also relatively low. Nationwide, Scotland and Wales appear to be the best bet, with an average yield of 5.12% and 4.52% respectively. Looking at the best cities to invest in, the top five performers are Glasgow, Manchester, Birmingham, Sheffield and Leeds.

If you are planning to sell or buy rental property, you can register your interest directly with us on our landlord form.

Market view: stalemate ahead? 

Now that the bunting has been packed away after the jubilee celebrations, is it back to business as usual for the property market? It seems things could be staying quieter than we have been used to, says our property advisor Adam:

"My prediction for the market is that we will be at some kind of stalemate for a few months now," he says. "Price growth has now stopped, or at least slowed significantly in most places, bar a few small pockets such as North Wales.

"However, there is still such a shortage of listings that even economic pressures should not cause any great crash in the short term. There is still large demand to buy, and it would take something cataclysmic to remove all of that suddenly. I think we will remain at current values and general activity levels for a while, and maybe see only slight reductions in places depending on how mortgage lenders react to interest rates rising. These kinds of changes would affect both the investment and residential markets in very similar ways."

Movewise news

Read our guide to the new EPC rules for rentals

Our first NRLA webinar last week saw a fantastic turnout, with almost 400 people watching our property experts Kirsty and Adam explaining the proposed changes to minimum energy efficiency standards for the private rented sector.

You can read our in-depth guide to the rules, and why landlords should prepare for the changes sooner rather than later, on our website, or download it as an e-book. We'll also be adding a recording of the session as soon as possible.

Is there a topic you'd like us to cover in a future webinar or guide? Get in touch at

Have a great week!

Rob and the Movewise Team

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