Superprime London homebuyers have vanished – here’s where high-end demand remains

May 28, 2020

The latest research by London lettings and estate agent, Benham and Reeves, has found that demand for homes listed at £10m and above across London’s prime suburbs has tumbled to just 2%; with a number of areas seeing no demand for housing at all.

Benham and Reeves looked at prime London’s property hotspots and the demand for homes listed at £2-5m, £5-10m and £10m, to see how the current pandemic is impacting homeowner appetite for London’s priciest properties.

See the full data tables for each price threshold here.

The £2-5m market

At the lower end of the capital’s prime property market, demand remains fairly robust at 15% on average.

Richmond is the most in-demand of all prime London locations at this price bracket, with 40% of all homes listed still under offer or SSTC despite the spread of the Coronavirus.

Barnes (38%), Clapham (32%), Wimbledon (29%) and Chiswick (28%) are also amongst the most popular.

The £5-10m market

Moving up a price bracket, demand drops to 10%, however, there remain a number of areas where homebuyer activity remains robust.

Again, Barnes (56%), Wimbledon (33%) and Richmond (25%) remain popular, joined by Pimilcio (19%).

However, at this price bracket demand for housing is currently non-existent in Fitzrovia, Marylebone, Maida Vale, Regents Park, Canary Wharf, Battersea, Wandsworth and Chiswick.

The £10m+ market

It is the super-prime threshold that has seen homebuyer demand take the biggest hit.

With demand as a whole at just 2%, there are a total of 13 areas where demand sits at 0%, with a further seven areas where no homes are listed above this threshold.

Highgate is the most in-demand at 8%, along with Notting Hill (6%), Knightsbridge (5%), Mayfair (4%) and Chelsea (2%).

See the full data tables for each price threshold here.

Prime London property demand for properties listed between £2m-£5m
Area
Prime category
Demand
Belgravia
Prime C London
12%
Chelsea
Prime C London
13%
Fitzrovia
Prime C London
3%
Holland Park
Prime C London
16%
Kensington
Prime C London
16%
Knightsbridge
Prime C London
15%
Marylebone
Prime C London
4%
Mayfair
Prime C London
6%
Maida Vale
Prime C London
6%
Notting Hill
Prime C London
18%
Pimlico
Prime C London
5%
Regents Park
Prime C London
5%
St John’s Wood
Prime C London
6%
Victoria
Prime C London
12%
Hampstead Garden Suburb
Prime NW London
12%
Highgate
Prime NW London
17%
Islington
Prime N London
24%
Wapping
Prime E London
0%
Canary Wharf
Prime E London
3%
Battersea
Prime SW London
19%
Clapham
Prime SW London
32%
Wandsworth
Prime SW London
19%
Wimbledon
Prime SW London
29%
Putney
Prime SW London
12%
Fulham
Prime SW London
19%
Barnes
Prime SW London
38%
Chiswick
Prime SW London
28%
Richmond
Prime SW London
40%
Average
15%
Prime London property demand for properties listed between £5m-£10m
Area
Prime category
Demand
Barnes
Prime SW London
56%
Wimbledon
Prime SW London
33%
Richmond
Prime SW London
25%
Pimlico
Prime C London
19%
Putney
Prime SW London
19%
Knightsbridge
Prime C London
12%
Belgravia
Prime C London
12%
Kensington
Prime C London
11%
Victoria
Prime C London
11%
Chelsea
Prime C London
11%
Holland Park
Prime C London
10%
Fulham
Prime SW London
10%
Notting Hill
Prime C London
9%
Clapham
Prime SW London
8%
Mayfair
Prime C London
7%
Highgate
Prime NW London
6%
Hampstead Garden Suburb
Prime NW London
4%
St John’s Wood
Prime C London
4%
Islington
Prime N London
3%
Fitzrovia
Prime C London
0%
Marylebone
Prime C London
0%
Maida Vale
Prime C London
0%
Regents Park
Prime C London
0%
Canary Wharf
Prime E London
0%
Battersea
Prime SW London
0%
Wandsworth
Prime SW London
0%
Chiswick
Prime SW London
0%
Wapping
Prime E London
x
Average
15%
Super-prime London property demand for properties listed at £10m and over
Area
Prime category
Demand
Highgate
Prime NW London
8%
Notting Hill
Prime C London
6%
Knightsbridge
Prime C London
5%
Mayfair
Prime C London
4%
Chelsea
Prime C London
2%
Kensington
Prime C London
2%
St John’s Wood
Prime C London
2%
Marylebone
Prime C London
2%
Belgravia
Prime C London
0%
Fitzrovia
Prime C London
0%
Holland Park
Prime C London
0%
Maida Vale
Prime C London
0%
Pimlico
Prime C London
0%
Regents Park
Prime C London
0%
Victoria
Prime C London
0%
Hampstead Garden Suburb
Prime NW London
0%
Islington
Prime N London
0%
Battersea
Prime SW London
0%
Wimbledon
Prime SW London
0%
Fulham
Prime SW London
0%
Richmond
Prime SW London
0%
Wapping
Prime E London
x
Canary Wharf
Prime E London
x
Clapham
Prime SW London
x
Wandsworth
Prime SW London
x
Putney
Prime SW London
x
Barnes
Prime SW London
x
Chiswick
Prime SW London
x
Average
15%

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