Prime London sellers return to market
The latest look at prime London property supply from Jefferies London has shown that the volume of homes priced at £2m or more listed for sale across Prime Central London (PCL) increased by 2.7% during the first quarter of 2026, with £2m+ homes now accounting for 35.5% of all PCL stock.
Jefferies London analysed current for-sale listings across the PCL market, looking at what percentage are priced at £2m or more, how this compares to the previous quarter and which neighbourhoods currently boast the highest level of high-end housing stock available to buyers.
The research shows that, across Prime Central London as a whole, the number of homes listed for sale at £2m or more increased by 2.7% during the first quarter of 2026.
This reverses the trend seen during the final quarter of last year, when Jefferies London noted that £2m+ stock levels across Prime Central London had fallen by 9.3%, suggesting that prime sellers are returning to the market with renewed confidence at the start of 2026.
The largest increase in £2m+ stock has been seen in Regent’s Park, where the number of homes listed for sale climbed by 21.2% during Q1. Marylebone also saw a notable increase of 17.4%, while Victoria recorded a 9.3% uplift.
Elsewhere, Mayfair saw the number of homes priced at £2m or above increase by 5.8%, with St John’s Wood (5.0%), Knightsbridge (4.5%), Belgravia (3.4%), Fitzrovia (3.2%) and Pimlico (2.2%) also all seeing stock levels rise.
Only five prime London locations saw a quarterly reduction in £2m+ stock, with the largest falls seen in Maida Vale (-13.5%), Chelsea (-3.3%) and Holland Park (-1.8%).
As a result of the renewed market confidence seen in Q1, homes priced at £2m or above now account for over a third (35.5%) of stock found across the Prime Central London market.
Mayfair remains home to the highest proportion of £2m+ properties, where almost four in five homes currently listed for sale are priced at £2m or above (79.5%). Knightsbridge ranks second at 64.9%, followed by Belgravia at 57.6%.
Chelsea also continues to boast a significant share of high-end stock, with 40.7% of homes listed for sale priced at £2m or more, while Marylebone (38.9%), Kensington (36.4%) and Victoria (35.6%) also sit above the Prime Central London average.
Damien Jefferies, Founder of Jefferies London, commented:
“Having seen high-end stock levels fall during the final quarter of last year, our latest research suggests that there is renewed confidence on the side of prime London sellers as we move through the opening months of 2026.
When the Autumn Budget introduced the £2m+ council tax surcharge there was an expectation that it could discourage owners from bringing these homes to market. However, what we’re seeing instead is that sellers remain confident in both the depth of demand and the long-term appeal of the prime London market.
The start of the year is traditionally a far more active period for the property market and many sellers who held off during the latter stages of 2025 now appear to be taking advantage of improving sentiment.
Whilst buyers remain selective, there is still a great deal of appetite for high-quality homes across Prime Central London and the increase in £2m+ stock suggests sellers are feeling increasingly positive about market conditions.”
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