These are the nation’s £1m+ property sale hotspots

February 6, 2020

The latest research by lettings and sale agent, Benham and Reeves, has revealed where the most £1m+ properties are selling as a percentage of total transactions, despite the influence of market uncertainty which has been most prevalent in the upper tiers of the property market.

Benham and Reeves pulled the latest data from the Land Registry for the last year, breaking down transactions by price to find which areas had seen the most market activity at the £1m price point and above, £5m and above and £10m and above, as well as how this translated as a proportion of all transactions during the same time period.

The data shows that transactions at £1m and above accounted for 1.8% of all transactions and despite the capital being worst hit by political uncertainty and buyer hesitation, London remains the £1m+ playground for high-end homebuyers, accounting for 13 of the top 15 areas where sales at £1m or above accounted for the highest percentage of all transactions.

Of course, prime central London topped the table with Kensington and Chelsea remaining the most prestigious corner of the capital, seeing no less than 59% of all property sales coming in at a mill or more.

Westminster was home to the second-highest proportion of high-end property sales, with 46% selling for £1m+. Camden (35%), the City of London (34%) and Hammersmith and Fulham (32%) also ranked high.

Other boroughs to make the top 15 included Richmond, Islington, Southwark and Merton.

Outside of London, Elmbridge and South Bucks saw 21% of transactions exceed £1m, with Chiltern (12%), St Albans (10%), Windsor and Maidenhead, Three Rivers and Guildford also hitting 9%.

It’s a similar story at the higher price brackets although a more marginal percentage, with £5m+ transactions accounting for just 0.04% of all transactions, while this dropped to 0.01% for transactions of £10m+.

While Kensington, Westminster and Camden placed with the highest proportion of transactions as a percentage of all transactions at both the £5m+ and £10m+ price brackets, Runnymead was a new entry with the area ranking fourth in both price brackets.

Director of Benham and Reeves, Marc von Grundherr, commented:

“There’s no denying that month after month of uncertainty surrounding Brexit had caused the market to grind to stutter and at the very top end, where even the smallest margins can equate to substantial sums of money, there had understandably been a sharp drop in buyer interest.

While this has seen transaction levels fall in the upper price tiers, there hasn’t been a total exodus and as our research shows, London, in particular, has remained a very attractive proposition to the wealthiest buyers.

Now that we’ve seen the bottom of the market and a Boris bounce has opened the flood gates of both buyer and seller activity, domestic and foreign investment in the most valuable pockets of the market should start to regain momentum.

Those that did commit to a purchase over the last year have done well in terms of value for money, as the top tiers of the market are often those susceptible to the most dramatic swings in price once the cogs do start to turn, and will no doubt start to climb in price as the year plays out.”

Top 25 Areas with the Most £1m+ Sales as a Proportion of all Sales
Area
£1m+ as % of All Transactions
Average £1m+ Sold Price
KENSINGTON AND CHELSEA
59%
£3,200,507
CITY OF WESTMINSTER
46%
£2,807,072
CAMDEN
35%
£2,132,744
CITY OF LONDON
34%
£1,778,903
HAMMERSMITH AND FULHAM
32%
£1,721,498
RICHMOND UPON THAMES
24%
£1,662,602
WANDSWORTH
22%
£1,466,081
ELMBRIDGE
21%
£1,752,835
SOUTH BUCKS
21%
£1,637,800
ISLINGTON
18%
£1,567,108
HARINGEY
15%
£1,541,912
HACKNEY
14%
£1,304,704
SOUTHWARK
13%
£1,981,532
LAMBETH
12%
£1,530,171
MERTON
12%
£1,821,482
CHILTERN
12%
£1,458,997
BRENT
10%
£1,545,905
ST ALBANS
10%
£1,351,720
EALING
9%
£1,466,573
BARNET
9%
£1,649,732
WINDSOR AND MAIDENHEAD
9%
£1,579,871
THREE RIVERS
9%
£1,406,444
GUILDFORD
9%
£1,452,234
WAVERLEY
8%
£1,431,973
EPPING FOREST
8%
£1,527,890
All
1.8%
£1,730,834
Top 25 Areas with the Most £5m+ Sales as a Proportion of all Sales
Area
£5m+ as % of All
Average £5m+ Sold Price
KENSINGTON AND CHELSEA
8.10%
£9,882,921
CITY OF WESTMINSTER
4.50%
£9,910,674
CAMDEN
1.80%
£9,005,871
RUNNYMEDE
0.70%
£7,884,339
ELMBRIDGE
0.60%
£7,256,704
RICHMOND UPON THAMES
0.60%
£6,246,667
SOUTHWARK
0.50%
£5,739,786
MERTON
0.30%
£7,291,667
HAMMERSMITH AND FULHAM
0.20%
£11,777,200
OXFORD
0.20%
£6,350,000
RICHMONDSHIRE
0.20%
£8,550,000
BARNET
0.10%
£10,430,000
BLACKBURN WITH DARWEN
0.10%
£6,136,000
EAST HAMPSHIRE
0.10%
£7,950,000
EPPING FOREST
0.10%
£5,250,000
HARINGEY
0.10%
£6,002,500
ISLINGTON
0.10%
£5,325,000
KINGSTON UPON THAMES
0.10%
£7,575,000
LAMBETH
0.10%
£11,225,488
SEVENOAKS
0.10%
£5,195,000
SOUTH BUCKS
0.10%
£7,000,000
SOUTH OXFORDSHIRE
0.10%
£9,800,000
SURREY HEATH
0.10%
£5,000,000
WANDSWORTH
0.10%
£6,250,000
WINDSOR AND MAIDENHEAD
0.10%
£6,200,000
All
0.04%
£9,001,959
Top Areas with the Most £10m+ Sales as a Proportion of all Sales
Area
£10m+ as % of All
Average £10m+ Sold Price
KENSINGTON AND CHELSEA
2.24%
£17,718,830
CITY OF WESTMINSTER
1.33%
£17,760,254
CAMDEN
0.55%
£15,362,500
RUNNYMEDE
0.10%
£15,250,000
BARNET
0.06%
£14,450,000
HAMMERSMITH AND FULHAM
0.06%
£22,340,000
ELMBRIDGE
0.05%
£11,500,000
LAMBETH
0.03%
£16,950,975
All
0.01%
£17,308,329

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Breaking News

Breaking Property News 27/10/26

Daily bite-sized proptech and property news in partnership with Proptech-X.     Who controls the infrastructure, data and intelligence that runs inside commercial buildings? By Author Andrew Stanton CEO Proptech-PR Commercial real estate owners have invested heavily in technology to improve building operations, connect tenants and monitor performance. Yet behind the growing number of systems…
Read More →
Breaking News

35% of UK homes are in postcode areas where house prices are falling

House price falls spread to a third of homes as sellers face growing competition for buyers More than a third (35 per cent) of UK homes are in postcode areas where house prices are falling, up from 12 per cent a year ago Price falls are concentrated in London and the South East where 85…
Read More →
Estate Agent Talk

Budget wishlist

Kevin Shaw, National Sales Managing Director at LRG With the Budget just days away, the property market is in a slightly better place than it was this time last year. Stamp Duty has been ruled out of this year’s changes, which removes the kind of speculation that held buyers and sellers back last autumn. The…
Read More →
Estate Agent Talk

Autumn Budget 2026: Property industry experts comment

Ahead of Wednesday’s Autumn Budget, property industry experts from across the residential sales, lettings, land and property development, mortgage finance and client money protection sectors have shared their predictions, priorities and warnings for the Chancellor. With speculation surrounding property taxation, first-time buyer support, landlord investment, inheritance tax and housebuilding, industry leaders outline what Wednesday’s announcements…
Read More →
Adding second coat of varnish floor boards
Estate Agent Talk

5 Renovations That Can Transform a Property Before It Goes on the Market

Ask a vendor what they plan to fix before listing and the answer is often too ambitious. A loft conversion won’t be finished in time, and it rarely pays back on a quick sale. The changes that actually move a listing are smaller and cheaper, and they show up in the photos. Here are five…
Read More →
Breaking News

Seven things to do if a tree damages your property

Storm Austen and Storm Boelo are bringing strong winds and heavy rain across the UK this weekend, meaning homeowners could find themselves dealing with fallen trees, damaged roofs, crushed cars and difficult conversations with neighbours about who should pay. But what should you do if a neighbour’s tree comes crashing through your roof? Will your…
Read More →