We are continuing to see strong demand for prime London properties, with high-value transactions taking place across the capital.
New data from the Land Registry reveals that SW6 (Fulham) and SW3 (Chelsea) saw more £2mn+ sales than any other prime London postcodes in 2024, reinforcing their status as key locations for luxury buyers.
Prime Market Overview
Across Prime London, 1,591 residential transactions were recorded at £2 million or more last year, with an average sale price of £2.75 million—a figure 438% higher than the Greater London average.
Top London Postcodes for £2mn+ Sales in 2024:
1. SW6 (Fulham) – 102 transactions
2. SW3 (Chelsea) – 78 transactions
3. NW3 (Barnet, Hampstead, Belsize Park) – 68 transactions These figures highlight Fulham’s continued appeal for high-end buyers, offering a mix of spacious period homes, excellent local amenities, and proximity to central London. Chelsea, an established hub for prime property, remains a preferred destination for affluent buyers.
London’s Highest Average Sold Prices
Some of London’s most exclusive addresses commanded the highest average sold prices in 2024.
Top Postcodes by Average Sold Price:
- W1B (Regents Park to Oxford Circus) – £6.225mn
- WC2H (Camden/Westminster) – £5.19mn
- SW1W (Westminster) – £4.545mn
These figures reflect the prestige of London’s traditional prime districts, where properties continue to attract global interest.
Highest Price Premiums
Certain postcodes command significant price premiums compared to their surrounding boroughs. E1 (Aldgate, City Fringe) in Tower Hamlets led the way, with average £2mn+ sales reaching £3.38mn—648% higher than the borough-wide average. This suggests continued demand for prime property in emerging luxury markets beyond traditional central London locations.
Changing Buyer Preferences
Despite discussions of shifting demand patterns in the prime London market, over 1,500 £2mn+ transactions in 2024 confirm the continued strength of high-value property sales. Beyond central London, affluent buyers are increasingly considering outer boroughs such as Bromley, Croydon, Havering, and Ealing, as they search for larger homes and access to green space—a trend that emerged during the pandemic and remains prevalent today.
Final Thoughts
While traditional prime areas such as Chelsea, Westminster, and Mayfair continue to dominate the ultra-luxury market, data shows that buyers are also looking further afield for high-end opportunities. This shift presents both new investment potential and a broadening of London’s prime market footprint. At Winkworth, we are experts in London’s evolving luxury property market. Whether you're looking to buy, sell, or invest in prime real estate, our team is here to help you navigate these market trends and find the perfect property to suit your needs.
Source: Land Registry, Benham and Reeves, PrimeResi
