Belgravia luxury homes price drop

The median selling price of luxury homes in the London postcode of SW1 which includes Belgravia have fallen by more than 20% in the year up to November 2015 as rising taxes start to bite.

According to analysis by Bloomberg of Land Registry data, the London postcode SW1 has seen the the biggest slump in sale prices in London during this period. The median sale price in the postcode fell to about £928,000 in November and the number of homes sold fell almost 75% to 15.

Luxury-home values in London are expected to remain flat or even drop this year as Russian and Chinese buyers disappear and low oil prices affected demand from the Middle East.

According to Knight Frank LLP, Russians bought 4.2% of the homes that were sold in central London’s best districts during the third quarter, down from 10% a year earlier, Chinese buyers acquired 11% of homes sold from January to November last year, compared with 10.5% in the same period in 2014.

This is not the first time we have seen such news, back in October 2015 the London-focused estate agent Foxtons said high prices and stamp duty changes resulted in house purchases in the centre of the capital falling to record lows.

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

UK buyers struggle while 50,000 homes sit empty

As the UK housing crisis deepens, new analysis by Open Property Group exposes a worrying surge in so-called “zombie homes”- properties that sit unoccupied and deteriorating while millions struggle to access affordable housing. Key insights: 50,000+ long-term vacant homes in England alone 23,000+ of these have been empty for more than two years Estimated £13.6…
Read More
Breaking News

Breaking Property News 26/06/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   The UK is Europe’s second most distressed market despite headline GDP growth Retail and Consumers Goods has emerged as the most distressed sector in Europe, with distress levels now the highest since the global financial crisis, according to the latest Weil European Distress Index (WEDI). The…
Read More
AI in estate agency letting agency property
Breaking News

Over half of lettings agents have no plans to adopt AI

The latest industry insight from Inventory Base has revealed a cautious approach to artificial intelligence (AI) among UK letting agents, with over half (53%) of agencies stating they have no plans to adopt AI or automation in their operations. A new survey of UK letting agents, commissioned by Inventory Base* assessed current adoption levels of…
Read More
Breaking News

Prime London Sees Rise in £2m+ Homes Entering the Market

The latest Prime Property Stock Index from Jefferies London reveals that the proportion of £2m+ homes entering the market across Prime London has climbed from 33% in Q1 2025 to 36% in Q2—signalling a growing level of confidence from sellers in the capital’s high-end property market. Jefferies London analysed market listings across key Prime Central…
Read More
Breaking News

Second Reading of the Planning and Infrastructure Bill

Propertymark comments following the second reading of the Planning and Infrastructure Bill in the House of Lords Nathan Emerson, CEO at Propertymark, comments: “There is an ever-limited timeframe for the UK Government to deliver on their pledge to build 1.5 million new sustainable homes before 2029. It is positive to see peers challenge some of…
Read More
how to present your property for sale
Breaking News

These are the property hotspots

These are the property hotspots bucking the SDLT deadline price slide Last week, the latest UK House Price Index from the Land Registry revealed a sharp 3.7% monthly drop in average UK house prices during April 2025, following the expiry of temporary stamp duty support at the end of March. Further analysis by eXp UK,…
Read More