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

House prices stable in July

House prices stable in July (0.0%), following a +0.2% rise in June Average property price now £299,253 compared with £299,396 in June Annual growth of +0.1% is the slowest rate of house price inflation since November 2023 Northern Ireland continues to record the UK’s strongest annual growth at +7.4%   Amanda Bryden, Head of Mortgages…
Read More →
Overseas Property

Algarve tops the list of overseas destinations by Brits this summer

New analysis from Rightmove reveals the most popular overseas destinations that potential British buyers are searching for this summer The Algarve in Portugal is the most popular destination, followed by Paphos in Cyprus and Mallorca in Spain Spain is the overall most searched for country, followed by France and Italy New analysis by Rightmove, the…
Read More →
Breaking News

UK Construction Sector Activity Remains Stagnant

Glenigan’s data shows construction sector performance is depressed in a tough socio-economic landscape The value of underlying (under £100 million) work starting on-site during the three months to the end of July declined 11% and fell 29% below last year’s levels. Residential construction starts fell sharply, declining 25% against the preceding three months and dropping…
Read More →
Estate Agent Talk

Seven fire safety myths every business should avoid

Fire safety is one of those responsibilities that often doesn’t receive the attention it deserves – until something goes wrong, that is. For many businesses, compliance has fallen into the trap of being a tick-box exercise that’s centred around annual inspections, manual training exercises, and having the right paperwork in place. And although these are…
Read More →
Breaking News

Suzy Lamplugh’s legacy underlines the need to always make lone-worker safety a priority

More than 40 years after estate agent Suzy Lamplugh disappeared while attending a work appointment, her legacy remains a powerful reminder that personal safety must be central to workplace practices. On 28 July 1986, 25-year-old Suzy Lamplugh left her London office for an appointment and never returned. Her disappearance led her parents, Diana and Paul…
Read More →
Breaking News

Prime London sellers return to market

The latest analysis from Beham and Reeves has found that the number of homes listed for sale at £2m or above across Prime Central London increased during the second quarter of 2026, although performance continues to vary considerably between the capital’s most prestigious neighbourhoods.   Benham and Reeves analysed current Prime Central London property listings…
Read More →