{"id":1540,"date":"2024-02-06T16:56:21","date_gmt":"2024-02-06T16:56:21","guid":{"rendered":"https:\/\/www.benhams.com\/press-release\/?p=1540"},"modified":"2025-01-21T10:51:05","modified_gmt":"2025-01-21T10:51:05","slug":"super-wealthy-homebuyers-are-returning-to-londons-super-prime-market","status":"publish","type":"post","link":"https:\/\/www.benhams.com\/press-release\/london-property-market\/super-wealthy-homebuyers-are-returning-to-londons-super-prime-market\/","title":{"rendered":"Super wealthy homebuyers are returning to London\u2019s super prime market"},"content":{"rendered":"

\"SuperThe latest research by London lettings and estate agent, Benham and Reeves, reveals that super prime sellers are returning to London\u2019s housing market as listings of homes valued at \u00a310m+ increase by 5.1% on the year. <\/p>\n

Benham and Reeves has analysed current residential listings of prime (\u00a32m-10m) and super prime (\u00a310m+) homes in London and compared today\u2019s figures to those from this time last year to gain insight into the annual change in stock availability as the economic woes of 2023 begin to pass.<\/p>\n

The Benham and Reeves data reveals that the current number of super prime listings in London is 5.1% higher than it was this time last year with 431 homes listed on the market for \u00a310m or more, up from 410 annually. <\/p>\n

Key areas of super prime growth in London<\/strong><\/p>\n

The biggest annual increase has been seen in Highgate where the number of homes listed for sale with a value of \u00a310m+ has increased from 2 to 5. While this may seem like a small uplift, it\u2019s very much a case of quality of quantity across the super prime market and this rise represents an annual increase of 150% in available stock – the strongest growth in London.<\/p>\n

In Holland Park, there are now 23 super prime homes for sale which represents an annual uptick of 43.8%, while Belgravia has seen an increase of 32.4%.<\/p>\n

Other London markets to see an increase in super prime listings in the past year are Fitzrovia (20%), Chelsea (11.9%), Victoria (11.5%), Mayfair (10.4%), and Kensington (5.2%). <\/p>\n

Muted prime market<\/strong><\/p>\n

When it comes to London\u2019s core prime market of homes valued between \u00a32m-\u00a310m, the outlook is slightly more muted with listings staying largely static year on year. <\/p>\n

The current number of prime listings is 4,832 compared to 4,826 last year, which marks an annual increase of just 0.1%. <\/p>\n

There are, however, some London markets where prime listings have seen strong annual growth. <\/p>\n

Clapham leads the pack with the number of prime listings rising from 37 to 55 which is an annual increase of 48.6%. <\/p>\n

Wandsworth has seen an increase of 34.2%, while Highgate listings are up 25.6%. <\/p>\n

Other London markets to see an annual increase in prime listings of 10% or more are Victoria (15.3%), Hampstead Garden Suburbs (14.5%), Belgravia (14.2%), Barnes (13.5%), Mayfair (13%), and Battersea (11.1%).<\/p>\n

Director of Benham and Reeves, Marc von Grundherr, commented:<\/strong><\/p>\n

\u201cBroad economic uncertainty is as much a deterrent to the super-wealthy homebuyer as it is the average buyer and in recent market conditions, sellers at all levels of the market have been sitting tight and waiting for the UK\u2019s economic picture to improve. <\/p>\n

But improve it has, and buyers are now returning, tempted by greater improving market stability following four consecutive decisions to keep interest rates frozen. <\/p>\n

In response, sellers are also returning in order to capitalise on this growing level of market activity and we\u2019ve seen a notable increase in for sale stock levels across numerous prime London neighbourhoods. <\/p>\n

This should help breathe new life into the prime London market and the predominant opinion is that 2024 should be a strong year across the top tiers of the London market.\u201d<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Table shows the annual change in prime (\u00a32-\u00a310m) London residential listings<\/th>\n<\/tr>\n
Area<\/th>\nPrime category<\/th>\nTotal – Q4 2022<\/th>\nTotal – Q4 2023<\/th>\nAnnual change %<\/th>\n<\/tr>\n
Clapham<\/td>\nPrime SW London<\/td>\n37<\/td>\n55<\/td>\n48.6%<\/td>\n<\/tr>\n
Wandsworth<\/td>\nPrime SW London<\/td>\n38<\/td>\n51<\/td>\n34.2%<\/td>\n<\/tr>\n
Highgate<\/td>\nPrime NW London<\/td>\n39<\/td>\n49<\/td>\n25.6%<\/td>\n<\/tr>\n
Victoria<\/td>\nPrime C London<\/td>\n262<\/td>\n302<\/td>\n15.3%<\/td>\n<\/tr>\n
Hampstead Garden Suburb<\/td>\nPrime NW London<\/td>\n83<\/td>\n95<\/td>\n14.5%<\/td>\n<\/tr>\n
Belgravia<\/td>\nPrime C London<\/td>\n240<\/td>\n274<\/td>\n14.2%<\/td>\n<\/tr>\n
Barnes<\/td>\nPrime SW London<\/td>\n37<\/td>\n42<\/td>\n13.5%<\/td>\n<\/tr>\n
Mayfair<\/td>\nPrime C London<\/td>\n184<\/td>\n208<\/td>\n13.0%<\/td>\n<\/tr>\n
Battersea<\/td>\nPrime SW London<\/td>\n162<\/td>\n180<\/td>\n11.1%<\/td>\n<\/tr>\n
Chelsea<\/td>\nPrime C London<\/td>\n467<\/td>\n510<\/td>\n9.2%<\/td>\n<\/tr>\n
Holland Park<\/td>\nPrime C London<\/td>\n207<\/td>\n220<\/td>\n6.3%<\/td>\n<\/tr>\n
Kensington<\/td>\nPrime C London<\/td>\n617<\/td>\n639<\/td>\n3.6%<\/td>\n<\/tr>\n
St John\u2019s Wood<\/td>\nPrime C London<\/td>\n204<\/td>\n210<\/td>\n2.9%<\/td>\n<\/tr>\n
Islington<\/td>\nPrime N London<\/td>\n108<\/td>\n110<\/td>\n1.9%<\/td>\n<\/tr>\n
Knightsbridge<\/td>\nPrime C London<\/td>\n309<\/td>\n314<\/td>\n1.6%<\/td>\n<\/tr>\n
Maida Vale<\/td>\nPrime C London<\/td>\n66<\/td>\n67<\/td>\n1.5%<\/td>\n<\/tr>\n
Marylebone<\/td>\nPrime C London<\/td>\n496<\/td>\n480<\/td>\n-3.2%<\/td>\n<\/tr>\n
Fulham<\/td>\nPrime SW London<\/td>\n160<\/td>\n152<\/td>\n-5.0%<\/td>\n<\/tr>\n
Fitzrovia<\/td>\nPrime C London<\/td>\n186<\/td>\n175<\/td>\n-5.9%<\/td>\n<\/tr>\n
Wimbledon<\/td>\nPrime SW London<\/td>\n127<\/td>\n108<\/td>\n-15.0%<\/td>\n<\/tr>\n
Canary Wharf<\/td>\nPrime E London<\/td>\n24<\/td>\n20<\/td>\n-16.7%<\/td>\n<\/tr>\n
Chiswick<\/td>\nPrime SW London<\/td>\n60<\/td>\n48<\/td>\n-20.0%<\/td>\n<\/tr>\n
Pimlico<\/td>\nPrime C London<\/td>\n179<\/td>\n142<\/td>\n-20.7%<\/td>\n<\/tr>\n
Wapping<\/td>\nPrime E London<\/td>\n22<\/td>\n17<\/td>\n-22.7%<\/td>\n<\/tr>\n
Regents Park<\/td>\nPrime C London<\/td>\n70<\/td>\n52<\/td>\n-25.7%<\/td>\n<\/tr>\n
Putney<\/td>\nPrime SW London<\/td>\n59<\/td>\n43<\/td>\n-27.1%<\/td>\n<\/tr>\n
Notting Hill<\/td>\nPrime C London<\/td>\n276<\/td>\n201<\/td>\n-27.2%<\/td>\n<\/tr>\n
Richmond<\/td>\nPrime SW London<\/td>\n107<\/td>\n68<\/td>\n-36.4%<\/td>\n<\/tr>\n
Est PCL total<\/strong><\/td>\nOverall<\/strong><\/td>\n4826<\/strong><\/td>\n4832<\/strong><\/td>\n0.1%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Table shows the annual change in prime (\u00a32-\u00a310m) London residential listings<\/th>\n<\/tr>\n
Area<\/th>\nPrime category<\/th>\nTotal – Q4 2022<\/th>\nTotal – Q4 2023<\/th>\nAnnual change %<\/th>\n<\/tr>\n
Islington<\/td>\nPrime N London<\/td>\n0<\/td>\n0<\/td>\nN\/a<\/td>\n<\/tr>\n
Wapping<\/td>\nPrime E London<\/td>\n0<\/td>\n0<\/td>\nN\/a<\/td>\n<\/tr>\n
Canary Wharf<\/td>\nPrime E London<\/td>\n0<\/td>\n0<\/td>\nN\/a<\/td>\n<\/tr>\n
Clapham<\/td>\nPrime SW London<\/td>\n0<\/td>\n1<\/td>\nN\/a<\/td>\n<\/tr>\n
Wandsworth<\/td>\nPrime SW London<\/td>\n0<\/td>\n0<\/td>\nN\/a<\/td>\n<\/tr>\n
Barnes<\/td>\nPrime SW London<\/td>\n0<\/td>\n1<\/td>\nN\/a<\/td>\n<\/tr>\n
Richmond<\/td>\nPrime SW London<\/td>\n0<\/td>\n1<\/td>\nN\/a<\/td>\n<\/tr>\n
Highgate<\/td>\nPrime NW London<\/td>\n2<\/td>\n5<\/td>\n150.0%<\/td>\n<\/tr>\n
Holland Park<\/td>\nPrime C London<\/td>\n16<\/td>\n23<\/td>\n43.8%<\/td>\n<\/tr>\n
Belgravia<\/td>\nPrime C London<\/td>\n34<\/td>\n45<\/td>\n32.4%<\/td>\n<\/tr>\n
Fitzrovia<\/td>\nPrime C London<\/td>\n5<\/td>\n6<\/td>\n20.0%<\/td>\n<\/tr>\n
Chelsea<\/td>\nPrime C London<\/td>\n42<\/td>\n47<\/td>\n11.9%<\/td>\n<\/tr>\n
Victoria<\/td>\nPrime C London<\/td>\n26<\/td>\n29<\/td>\n11.5%<\/td>\n<\/tr>\n
Mayfair<\/td>\nPrime C London<\/td>\n48<\/td>\n53<\/td>\n10.4%<\/td>\n<\/tr>\n
Kensington<\/td>\nPrime C London<\/td>\n58<\/td>\n61<\/td>\n5.2%<\/td>\n<\/tr>\n
Knightsbridge<\/td>\nPrime C London<\/td>\n40<\/td>\n40<\/td>\n0.0%<\/td>\n<\/tr>\n
Marylebone<\/td>\nPrime C London<\/td>\n34<\/td>\n34<\/td>\n0.0%<\/td>\n<\/tr>\n
Notting Hill<\/td>\nPrime C London<\/td>\n11<\/td>\n11<\/td>\n0.0%<\/td>\n<\/tr>\n
Hampstead Garden Suburb<\/td>\nPrime NW London<\/td>\n15<\/td>\n15<\/td>\n0.0%<\/td>\n<\/tr>\n
St John\u2019s Wood<\/td>\nPrime C London<\/td>\n32<\/td>\n30<\/td>\n-6.3%<\/td>\n<\/tr>\n
Regents Park<\/td>\nPrime C London<\/td>\n24<\/td>\n19<\/td>\n-20.8%<\/td>\n<\/tr>\n
Battersea<\/td>\nPrime SW London<\/td>\n3<\/td>\n2<\/td>\n-33.3%<\/td>\n<\/tr>\n
Putney<\/td>\nPrime SW London<\/td>\n3<\/td>\n2<\/td>\n-33.3%<\/td>\n<\/tr>\n
Fulham<\/td>\nPrime SW London<\/td>\n2<\/td>\n1<\/td>\n-50.0%<\/td>\n<\/tr>\n
Maida Vale<\/td>\nPrime C London<\/td>\n9<\/td>\n4<\/td>\n-55.6%<\/td>\n<\/tr>\n
Pimlico<\/td>\nPrime C London<\/td>\n3<\/td>\n1<\/td>\n-66.7%<\/td>\n<\/tr>\n
Wimbledon<\/td>\nPrime SW London<\/td>\n1<\/td>\n0<\/td>\n-100.0%<\/td>\n<\/tr>\n
Chiswick<\/td>\nPrime SW London<\/td>\n2<\/td>\n0<\/td>\n-100.0%<\/td>\n<\/tr>\n
Est PCL total<\/strong><\/td>\nOverall<\/strong><\/td>\n410<\/strong><\/td>\n431<\/strong><\/td>\n5.1%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n


\n Prime London listings -annual change
\n Prime and super prime London listings data sourced from Rightmove and Benhams and Reeves (historic demand indicies)
\n <\/em><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

The latest research by London lettings and estate agent, Benham and Reeves, reveals that super prime sellers are returning to London\u2019s housing market as listings of homes valued at \u00a310m+ increase by 5.1% on the year. Benham and Reeves has analysed current residential listings of prime (\u00a32m-10m) and super prime (\u00a310m+) homes in London and … <\/p>\n

Continue reading “Super wealthy homebuyers are returning to London\u2019s super prime market”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[463],"tags":[],"class_list":["post-1540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-london-property-market"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/posts\/1540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/comments?post=1540"}],"version-history":[{"count":1,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/posts\/1540\/revisions"}],"predecessor-version":[{"id":1543,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/posts\/1540\/revisions\/1543"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/media\/1542"}],"wp:attachment":[{"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/media?parent=1540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/categories?post=1540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/tags?post=1540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}