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February 23 Market Update from Bricks&Logic - Start of a recovery in property prices?

9th February 2023

February 2023 update containing data up to the 31st January 2023 is now available at www.bricksandlogic.com. This update looks at changes in our estimates of sale and rental values between 31st October 2022 and 31st January 2023.

England & Wales 3 Month Sales Change

Across England and Wales, the average sale value dropped by 0.2% over the past three months. 

As usual, the numbers vary greatly depending on where you are in the country with local changes varying between -4.1% and +3%.

Interestingly, the average value reduction is less than we saw in last months update which may indicate the start of a recovery in pricing.

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England & Wales 3 Month Rental Change

Across England & Wales, the average rental value increased by 1.5% over the past three months.


Although a slower increase than observed in last months update, rental values are continuing to grow at pace.


Once again, the fastest growth is in London and the South East.

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London 3 Month Sales Change

Across London, the average sale value dropped by 0.1% over the past three months. 

While the average price across the city was pretty much flat, local value changes varied between +/- 2.6%.

As seen across England and Wales, this could signal the end of the drop in value we have seen over recent months.

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London 3 Month Rental Change

Over the past three months, rental values have continued to surge across most parts of London. 

The average rental value has increased by 2.5% over the period with some areas seeing increases of as much as 6%.

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As always, these numbers are area averages. Different types of properties in the same location can perform very differently to each other. 

To see how the market for your property has changed, or to explore the map, log in at www.bricksandlogic.com

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