Eight in 10 luxury London homes now sell below asking price
Property prices in exclusive neighbourhoods such as Mayfair and Belgravia have fallen 5% in the latest quarter.
At a glance
- Eight in 10 properties in London's most exclusive areas now sell below asking price
- Affected neighbourhoods include Mayfair, Belgravia and Knightsbridge
- Prime central London prices fell 5% in Q3 2026
- Sellers face potential losses of hundreds of thousands of pounds
Eight out of 10 properties in London's most exclusive neighbourhoods are now selling below their asking prices, according to research by Coutts, a private banking provider. Areas including Mayfair, Belgravia and Knightsbridge have been affected as sellers face potential losses of hundreds of thousands of pounds.
Property prices in prime central London, which encompasses the city's most expensive postcodes, declined 5% in the third quarter of 2026. The decline reflects a broader slowdown in the UK property market that is now affecting the country's wealthiest residents.
Why it matters
The decline in luxury property prices signals that the UK's property market slowdown is now affecting even the wealthiest segments of the market.
Original reporting
This brief was written with AI assistance from the reports listed above and checked against our editorial policy. Spotted an error? Request a correction.
