Sales in London’s prime property market have continued to fall for the second month in a row in 2015, with transactions down 22% year on year, according to real estate firm W.A. Ellis, a JLL company. This comes on top of a 34% year on year fall in sales recorded in January.

A breakdown of the figures shows that the most dramatic reduction has been for the sales of houses within Belgravia, Chelsea, Knightsbridge and Kensington, which have dropped by more than 50% from 40 sales in 2014 to 19 in the same period this year.

“Whilst at first glance, these figures may sound alarming, it is always the same in the run up to an election, particularly when property and potential taxation surrounding it, has been at the forefront of all parties’ manifestos,” Richard Barber, director at W.A. Ellis, reportedly said.