London sees lowest proportion of residential properties sold
Recent data shows that the proportion of properties sold in London during 2017 was lower than anywhere else in England or Wales.
According to Knight Frank, 4.2% of homes were sold across England and Wales last year on average; this can be compared to the 3.2% of private residential homes sold in the capital.
This is a significant decline from the 3.6% sold in London in the previous year, whilst the England and Wales figure has also seen a drop from 4.3%.
The data suggests that in London, affordability continues to place a barrier to entry on the housing market, shown in the reduced level of market liquidity. In turn, this could be suppressing the number of sales transactions.
The area which saw the highest proportion of homes transacted last year was Wales, at 4.8% of all properties sold. South-east and north-west England were recorded at 4.2%, with the West Midlands just behind at 4.1%.