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Revealed: The most popular London property pockets for the super-rich

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04/11/2020
The current pandemic is yet to dampen the appetites of London’s high-end homebuyers
Revealed: The most popular London property pockets for the super-rich

The Chelsea Barracks is the most popular super-prime property pocket in London, according to Enness Global.

The neighbourhood has seen 12 transactions at £5m or more since the start of the year, comprising two within the Mulberry Square development and 10 within Whistler Square.

The mortgage adviser analysed sold price records across the London market since the start of the year for transactions at £5m or more. They revealed which London roads are home to the highest average sold price and the highest number of transactions.

With four transactions each over £5m in 2020, The Knightsbridge Apartments and Chelsea Park Gardens have also proved popular amongst London’s high-end homebuyers.

Here’s the rest of the top 10 popular super-prime pockets:

Highest Number of Transactions in 2020

CHELSEA BARRACKS: 12
THE KNIGHTSBRIDGE APARTMENTS: 4
CHELSEA PARK GARDENS: 4
NORFOLK PLACE: 3
BROMPTON SQUARE: 3
PRINCIPAL PLACE: 3
ACACIA ROAD: 3
ENNISMORE GARDENS: 3
WATERFRONT DRIVE: 3

Source: Land Registry Price Paid Data

Priciest property hotspots

With a median sold price of £27.050m so far in 2020, Mayfair’s Grosvenor Square is London’s most expensive neighbourhood.

Danewood Drive is home to the second-highest average house price at £23.5m, with the Boltons in Kensington (£22.5m) and Lansdowne Road (£20m) also seeing the average house price exceed £20m so far this year.

Highest Median Sold Price in 2020

GROSVENOR SQUARE: £27,050,000
DANEWOOD DRIVE: £23,500,000
THE BOLTONS: £22,500,000
LANSDOWNE ROAD: £20,000,000
UPPER GROSVENOR STREET: £17,500,000
SHAWFIELD STREET: £17,000,000
LYGON PLACE: £15,906,875
THE LITTLE BOLTONS: £14,100,000
EGERTON CRESCENT: £13,900,000
DAWSON PLACE: £13,000,000

Source: Land Registry Price Paid Data

CEO of Enness Global Mortgages, Islay Robinson said: “Despite the problems posed by the current pandemic we’ve continued to see a good level of transactions take place at the very top end of the London market.

“While a stamp duty saving may not seem significant to those purchasing a multi-million pound home, a £15,000 saving is still a considerable help when it comes to covering additional costs such as legal fees. So there’s no doubt it has helped boost demand at the top price thresholds of the market.

“There’s also been an uplift in international demand which has helped keep transaction levels and sold prices consistently high despite the hurdles of international quarantine requirements and self-isolation.”

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