Prime London Sees Post-Budget Surge in £2m+ Listings
The latest research from prime London property experts, Jefferies London, reveals that, just two weeks on from the Autumn Budget and its newly announced prime property surcharges, an estimated 444 homes priced at £2m or more have been listed for sale across the capital. These new listings account for around one in 10 (9%) of all £2m-plus homes currently on the market, signalling a clear post-Budget uplift in activity at the top end of the market.
Jefferies London analysed current for sale listings stock data, looking at £2m-plus homes listed for sale across the capital and what proportion of these have hit the market in the two weeks since the Autumn Budget.
The research shows that some 444 new homes priced at £2m or more have been listed for sale since the Autumn Budget, accounting for around one in 10 (9%) of all homes listed for sale at this price range across the capital.
Since Budget day, £2m+ listings account for 12% of all such homes currently for sale in Wandsworth, followed by 11% in Camden and 10% in Hammersmith and Fulham.
In the traditional heartlands of PCL, the proportion is lower, but remains significant, with newly listed £2m-plus homes representing 8% of current Westminster stock and 7% in Kensington and Chelsea.
Further analysis of historic sold price data from Jefferies London shows that, over the last decade, the month of December has been a relatively muted period for prime transactions.
Over the last decade, London has seen an average of just 206 £2m-plus sales complete in December, with Westminster leading the capital at an average of 55 monthly sales, followed by 42 in Kensington and Chelsea.
Together, these figures suggest that the prime London market may be heading for a far busier December than usual, reversing the quieter end-of-year pattern seen in recent years and, given the surge in new £2m-plus instructions in the weeks since the Budget, Jefferies London says early 2026 could prove far more active than in previous years as these listings begin to convert.
Damien Jefferies, Founder of Jefferies London, commented:
“Realistically, those with the means to buy at the upper end of the London market are unlikely to be deterred by the new surcharges announced during the recent Autumn Budget. Prime London remains one of the most desirable property markets in the world, and buyers at this level typically take a long-term view of ownership, not to mention they have deep enough pockets to absorb the additional cost.
What we are seeing, however, is an immediate reaction to the Budget, as the announcement of higher ongoing property taxes appears to have nudged a number of would-be sellers off the fence, prompting a wave of new prime stock hitting the market.
December is usually a quieter month, but this year could defy the norm and, even if many of these homes do not complete before Christmas, the increase in stock should translate into far stronger activity as we move into early 2026.”
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