Our latest report on luxury property in London finds prices rising fast towards the end of last year as the UK election result and move towards Brexit certainty boosted buyer confidence.
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Hampstead & Highgate
New instructions in this area fell over -32% annually, and the number of prime sales shrank by -2.1% annually.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<£1m | 909 | 0.3% | 165 | 47 | -6.3% | 44 | 12.8% |
£1m - £10m | 1,050 | 3.4% | 157 | 50 | -7.6% | 46 | -2.1% |
>£10m | - | - | - | - | - | - | - |
Source: LonRes |
King's Cross & Islington
Prices in this area are close to record levels, just 1.3% below the peak. Discounts averaged at 6.1%, the lowest figure seen across all the areas covered by our index.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 765 | -6.7 | 157 | 90 | -5.2% | 32 | -11.1% |
£1m - £10m | 1,020 | -0.2 | 139 | 40 | -6.1% | 19 | - |
>10m | - | - | - | - | - | - | - |
Source: LonRes |
Marylebone, Fitzrovia & Soho
This area saw the highest drop in prices across all areas covered by the CLPPI with a -6.9% reduction in prices over the last year.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 1,2396 | 13.1% | 156 | 35 | -6.8 | 25 | -21.9% |
£1m - £10m | 1,620 | -6.9% | 156 | 42 | -10.7% | 52 | -10.6% |
>10m | - | - | 226 | 1 | - | 2 | - |
Source: LonRes |
Mayfair & St James's
Prices increased by a modest 2% over the last 12 months, but they remain 10.8% below the asking price on average.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 1,870 | 4.9% | 137 | 4 | -6.3% | 3 | -25.0% |
£1m - £10m | 2,176 | 2.0% | 207 | 10 | -16.7% | 18 | 38.5% |
>10m | - | - | 57 | 5 | - | 3 | -25.0% |
Source: LonRes |
Knightsbridge & Belgravia
Both sales and prices in this area show positive momentum – up 46% and 5.2% respectively compared to the year before.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 1,159 | -11.6% | 233 | 10 | -13.0% | 5 | 66.7% |
£1m - £10m | 2,011 | 5.2% | 152 | 28 | -10.0% | 41 | 64.0% |
>10m | 3,826 | 28.0% | 208 | 1 | -25.9% | 4 | 33.0% |
Source: LonRes |
Pimlico, Westminster & Victoria
Prime property is selling fastest in this area, within 127 days on average.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 1,041 | 2.0% | 146 | 37 | -7.6% | 37 | 23.3% |
£1m - £10m | 1,239 | 4.3% | 127 | 22 | -13.3% | 27 | - |
>10m | - | - | - | - | - | - | - |
Source: LonRes |
Wimbledon, Richmond, Putney & Barnes
Prices here increased 3.7% over last year and are now just 7.8% below the peak.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 717 | 3.1% | 152 | 81 | -7.0% | 63 | -26.7% |
£1m - £10m | 784 | 3.7% | 140 | 18 | -8.3% | 27 | -10.0% |
>10m | - | - | - | - | - | - | - |
Source: LonRes |
Battersea, Clapham and Wandsworth
Prime property prices in this area increased 6.3% year-on-year, the highest price hike seen across our index.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 749 | -0.4% | 155 | 180 | -6.3% | 136 | -12.8% |
£1m - £10m | 842 | 6.3% | 168 | 38 | -8.6% | 43 | -8.5% |
>10m | - | - | - | - | - | - | - |
Source: LonRes |
Fulham & Earl's Court
Prime property prices fell -5.9% over the last year and are now 17.6% below the peak.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 900 | 6.1% | 150 | 71 | -6.3% | 80 | -7.0% |
£1m - £10m | 1,014 | -5.9% | 146 | 43 | -8.5% | 62 | 6.9% |
>10m | - | - | - | - | - | - | - |
Source: LonRes |
Chelsea
Prime sales in this area increased by 51.6% annually while new instructions saw a 7.8% increase compared to the previous year.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volume | Annual change in quarterly sales volume |
---|---|---|---|---|---|---|---|
<1m | 1,168 | -7.6% | 155 | 37 | -9.4% | 48 | 33.3% |
£1m - £10m | 1,641 | 4.2% | 143 | 54 | -10.6% | 94 | 51.6% |
>10m | 2,729 | 119.2% | 103 | - | -11.7% | 2 | 0% |
Source: LonRes |
Hammersmith & Chiswick
Over 55% of prime properties here are selling at a discount, with buyers on average getting 8.8% off the asking price.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 772 | 0.7% | 163 | 89 | -5.7% | 41 | -25.5% |
£1m - £10m | 818 | -4.3% | 153 | 49 | -8.8% | 29 | 26.0% |
>10m | - | - | - | - | - | - | - |
Source: LonRes |
South Kensington
Prime properties here are now taking 14.3% less time to sell compared to last year, with only a third of properties sold at a discount.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 1,383 | 22.8% | 142 | 12 | -11.2% | 9 | 50.0% |
£1m - £10m, | 1,675 | -1.2% | 161 | 29 | -11.9% | 48 | 50.0% |
>10m | 2,206 | -12.7% | - | - | -19.9 |
1 | -50.0% |
Source: LonRes |
Kensington, Notting Hill & Holland Park
Both sales and prices in this area increased moderately - up 4.8% and 2.5% respectively compared to the year before.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 1,022 | -2.9% | 142 | 68 | -6.6% | 59 | 18% |
£1m - £10m | 1,481 | 2.5% | 143 | 72 | -9.5% | 87 | 4.8% |
>10m | 2,583 | -8.5% | - | - | -19.3% | 2 | -60% |
Source: LonRes |
Bayswater & Maida Vale
Sales volumnes fell -7.1% annually and are down -30.7% compared to recent peak levels.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 949 | -8.7% | 174 | 71 | -7.0% | 66 | 10.0% |
£1m - £10m | 1,245 | -1.0% | 159 | 50 | -12.4% | 52 | -7.1% |
>10m | - | - | - | - | - | - | - |
Source: LonRes |
St John's Wood, Regent's Park & Primrose Hill
The number of prime sales in this area reduced by -12.5% compared to last year - the highest reduction seen across all areas covered by our index.
Q4 2019 | |||||||
Sold property price band | Quarterly average sales £/SQ FT | Annual change in price | Time on market before sale (days) | Number of properties under offer this quarter | Average discount for sold stock | Quarterly sales volumes | Annual change in quarterly sales volumes |
---|---|---|---|---|---|---|---|
<1m | 925 | -0.5% | 165 | 43 | -5.7% | 34 | -33.3% |
£1m - £10m | 1,201 | -4.9% | 169 | 24 | -11.7% | 42 | -12.5% |
>10m | 1,615 | -39.6% | 162 | - | -9.1% | 2 | -50.0% |
Source: LonRes |