Recent research undertaken by leading property agents, Cluttons shows that home ownership is in decline with more Londoners now choosing to rent rather than buying. This is particularly more acute on the 20 to 40 years segment, which are the prime demanders of rental property.

Prices in London continue to smash records. According to the Evening Standard newspaper, a London house located in St Jame’s Park has gone on sale for £250m – 700 times the average property value in the capital.

According to a recent Zoopla.co.uk’s research, Upper Phillimore Gardens in W8 is one of the UK’s most expensive streets, where the average home is worth £5,740,496.

Traditionally Easter signals the beginning of the best season for sales in the capital but this year the number of new sellers is down 4% compared with this time last year – and new sellers have trimmed their asking prices by 0.5% in comparison with last month.

According to Miles Shipside, Rightmove director and housing market analyst comment: “From the perspective of both the weather and property price rises, spring appears to have been put on hold in the capital.