Eight in 10 homes in London’s poshest postcodes now sell below asking price, Coutts finds
Source: The Guardian ·
Sellers in areas such as Belgravia and Mayfair face hundreds of thousands of pounds in losses as property prices fallEight out of 10 properties in London’s most exclusive neighbourhoods – such as Mayfair, Belgravia and Knightsbridge – now sell below asking price, according to research by Coutts, which provides private banking services to wealthy clients.Property prices in “prime central London”,…
From the source
Eight out of 10 properties in London’s most exclusive neighbourhoods – such as Mayfair, Belgravia and Knightsbridge – now sell below asking price, according to research by Coutts, which provides private banking services to wealthy clients. Property prices in “prime central London”, which covers the city’s most expensive postcodes, have dropped 5% in the third quarter of 2026, as the slowdown in the UK’s property market hits its wealthiest residents. It means some affluent people are facing hundreds of thousands, if not millions, of pounds in losses to the value of their homes, with properties selling at an average 10% discount to their asking price, Coutts found. Prices in the highest end of London’s property market are now 14% below their peak in 2014, having been hit hard by Brexit, the Covid pandemic, higher property taxes and a surge in borrowing costs. Buying and selling agents in the capital have also reported a slowdown in interest from foreign-born buyers after the abolition…
BestAIBroker analysis
- Finance-aware sentiment: negative (-0.50 on a -1 to +1 scale).
- Event classification: OTHER.
- Market importance score: 29/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.
- Symbols referenced: UK.