Prime London Property Market Sees Rising Demand

Increased Activity in Prime and Super Prime Markets

In the £2m to £10m price range, 19.7% of available properties found buyers in Q4, representing a 2.7% increase from the previous quarter. The £10m+ super prime segment showed similar growth, with 4.1% of properties selling—an improvement of 1.6% quarter-on-quarter. This heightened activity reflects the robust appeal of Prime London, even as the market adjusts to fiscal changes and seasonal dynamics.

Regional Highlights

Demand grew most prominently in specific areas of Prime London. In the £2m to £10m bracket, Wapping saw an impressive 18.8% rise in buyer interest from Q3, followed by Putney (+11.7%), Clapham (+9%), Islington (+7%), and Chiswick (+6%).

The super prime market also experienced strong regional performance. Wimbledon led the way with a remarkable 50% increase in demand, while Notting Hill (+6.3%), Holland Park (+4.3%), Mayfair (+3.4%), and Kensington (+0.3%) also saw quarterly improvements.

Driving Factors

A key motivator for this increased activity has been the impending expiration of stamp duty relief thresholds, set to revert in April 2025. With stamp duty representing a substantial cost for high-end properties, buyers have acted decisively to secure homes ahead of these changes. This urgency, combined with London’s enduring allure as a global center for luxury living, has bolstered demand across the board.

Looking Forward

As we move into 2025, the Prime London market is expected to remain active, driven by sustained interest from high-net-worth buyers seeking to capitalize on current opportunities. For sellers, this presents an ideal time to bring properties to market, while buyers will benefit from acting promptly in what remains a highly competitive landscape. Whether you’re buying, selling, or investing, Winkworth’s expertise ensures you’re well-equipped to navigate the Prime London property market and make the most of these exciting trends.