Prime central London house prices set to rise in 2021, forecasts Dexters

Prime central London house prices could rise 2-3% this year, the capital’s largest independent estate agency group has forecast.

Andy Shepherd, chief executive of Dexters, which has 70 branches in London, said: “During 2021 the Covid-19 vaccine will bring a return to normality and a restart of mass international travel, resulting in a wave of buyers, tenants and investors returning to the London market.”

The firm classifies prime central London as property sales typically from £2 million and lettings from £1250 per week, in the boroughs of Westminster, Kensington and Chelsea, and parts of Hammersmith & Fulham and Camden.

While other parts of London and the UK saw bumper homes demand in 2020, with pent up demand after the first lockdown and a stamp duty holiday enticing people, some parts of the central London residential sector were impacted by travel restrictions.