Jefferies James reported that listings of homes priced at £2m or more have increased in select areas this year.
As of the end of Q1, 4,073 homes in the prime London market are listed at £2m or more, marking a 0.4% increase from last year.
Notting Hill saw a significant rise in these listings by 14.5%, with St John’s Wood and Belgravia also experiencing notable increases of 12.6% and 9.8% respectively.
Mayfair emerged as the leading area with 73% of all homes listed at £2m or more.
Knightsbridge followed with 63%, while Belgravia, Chelsea, and Fitzrovia had 37% of their listings at this price point.
In contrast, Maida Vale had the lowest proportion, with just 9% of homes listed for £2m or more.
Damien Jefferies, founder of Jefferies James, said: “The prime London market has been somewhat subdued of late but an increase in the number of prime homes listed for sale suggests that, as overall market sentiment has improved, London’s high-end homesellers are being tempted out of the woodwork to test the waters.
“Of course, the level of prime London for sale stock does differ from one neighbourhood to the next and in some areas supply remains restricted when compared to last year.
“However, when it comes to the most prestigious pockets of the prime London market, it’s the traditionally popular heartlands of Mayfair, Knightsbridge and Belgravia where prime property stock is most abundant, accounting for the vast majority of all homes listed for sale.”
