We examine the factors and behaviours that are influencing prices and demand in the prime central London residential market
Activity and spend above £5 million
There has been strong activity in the market above £5 million in the second quarter of the year. This is despite the dependency on domestic buyers and resident non-doms more regularly buying a home for use as their main residence.
Prime central London by district
Which areas of London are showing the fastest recovery? Our analysis shows prime property price growth on an annual basis and since the 2014 peak.
Prices are 29% below their 2014 peak on an inflation-adjusted basis. Despite a recent strengthening in sterling, prices were still 34% below their peak in US$ terms at the end of June.
Wealthy drivers of demand
The value on offer in prime central London sits against the context of a strong rise in ultra-high net worth individuals (UHNWIs) across the globe, namely those with wealth exceeding US$50 million.
To read more of our Residential Research please visit our Residential Hub
Read the articles within In Focus: Prime Central London – Autumn 2021 below