London Luxury Home Prices Rise for the First Time in 20 Months

London’s luxury home prices have increased for the first time since June 2023, according to a report from LonRes released in the U.K. on Wednesday.

The average sale price in February rose 0.6% from the year prior, though compared with pre-pandemic levels, prices were still 1.2% lower.

“While it’s only a single month of data and a small rise, a sign of return to growth might motivate buyers to become more active,” said Nick Gregori, head of research at LonRes. “This is in contrast to a long period where demand has been depressed by fears of further price falls.”

Prices rose even as inventory increased—new instructions, or the number of new properties on agents’ books, were 34% higher than a year before, and total supply was up 11.6%. This significant increase in homes for sale should keep drastic price increases at bay, Gregori noted in the report.

Supply is growing faster than demand in the U.K. capital—sales fell 8.4% annually last month though they were up 6.8% from 2017-19 numbers.

The rebound at the highest echelons of London’s market was even more pronounced.

In the £5 million-plus (US$6.5 million) sector, home sales were up 13.8% year over year in February, while new instructions increased by 30%. There are also now 21.1% more £5 million-plus homes available for sale in London than there were a year ago, and luxury apartments are becoming more prevalent in this sector.

“We have seen similar increases for all prime central neighbourhoods but a big difference between property types—the number of £5 million-plus flats on the market has grown at triple the rate for houses over the past 12 months,” Gregori said.

As for London’s high-end rentals, prices were up 6% from last February, the highest level of rental growth since November 2023, according to the report. This brings the city’s average rents to 33.3% above pre-pandemic levels.

“The prime London lettings market continues to be constrained by a lack of stock,” Gregori said. “Robust demand and low levels of new supply are sure to put upward pressure on rents, so it’s no surprise that annual rental growth increased to 6% in February, the highest rate for 16 months.”

When Lamborghini takes to the water, subtlety isn’t on the agenda. Unveiled at the Monaco Yacht Show, the Tecnomar for Lamborghini 101FT is a 30-metre superyacht that fuses Italian automotive theatre with cutting-edge naval engineering.

The model builds on the collaboration that began in 2020 with the Tecnomar for Lamborghini 63, a sell-out success that celebrated the marque’s founding year.

This new flagship pushes the partnership between Automobili Lamborghini and The Italian Sea Group to a grander scale, designed to deliver the same adrenaline rush at sea that drivers expect behind the wheel.

“The Tecnomar for Lamborghini 101FT redefines the concept of nautical luxury,” said Stephan Winkelmann, Chairman and CEO of Automobili Lamborghini.

“It is not only a yacht, but an affirmation of Italian excellence. The Italian Sea Group and Automobili Lamborghini share an exclusive clientele who are passionate about beauty, technology, and extreme performance.”

Design cues are unmistakably Lamborghini. The yacht’s sharp exterior lines echo the Fenomeno supercar revealed at Monterey Car Week, complete with Giallo Crius launch livery and signature Y-shaped lighting.

Inside, the cockpit and lounges mirror the DNA of Sant’Agata supercars through hexagonal motifs, sculptural seating and dramatic contrasts. With accommodation for up to nine guests and three crew cabins, indulgence meets practicality on every deck.

Performance is equally uncompromising. Three MTU 16V 2000 M96L engines and triple surface propellers generate a combined 7,600 horsepower, driving the yacht to 45 knots at full throttle, with a cruising speed of 35 knots. Two 35 kW generators provide additional efficiency and reliability, ensuring the yacht’s power matches its presence.

Mitja Borkert, Lamborghini’s Design Director, said: “With the Tecnomar for Lamborghini 101FT, we aimed to create a product that embodies the main design characteristics of our super sports cars. All the details, from the exterior to the colour, to the interior areas, recall and are inspired by Lamborghini’s DNA.”

Presented in scale at Monaco, the definitive Tecnomar for Lamborghini 101FT is scheduled to hit the water at the end of 2027. For those who demand their indulgence measured not only in metres but in knots, this is Lamborghini’s most extravagant expression yet.

London Luxury Home Prices Rise for the First Time in 20 Months

The slumping market finally saw the average sale price tick up, rising 0.6% in February.

A 30-metre masterpiece unveiled in Monaco brings Lamborghini’s supercar drama to the high seas, powered by 7,600 horsepower and unmistakable Italian design.