These are the 10 London neighbourhoods with the most £10m plus homes
New luxury developments, especially super-prime family houses, have increased the supply and sales levels of ultra-prime housing in St Johns Wood and Hampstead, driving both addresses up London’s top-10 address list says new research by leading London estate agent Aston Chase.
Using sales data from Lonres, Aston Chase sales records and local market intelligence, the new research has analysed ultra-prime residential sales across Inner London between January and October 2017, looking at sales of properties valued above both £10 million and £15 million.
Despite London’s ultra-prime residential market remaining “highly-discerning and challenging”, the Aston Chase survey reveals that there have been £727 million worth (50 sales) of ultra-prime deals during 2017 for homes valued above £10 million. Of these ultra-prime deals, 30 sales (60%) were for houses, the balance super-luxury apartments.
Aston Chase reveal that within these overall figures, there have been 15 ultra-prime deals for properties sold for over £15 million – £331 million worth of sales in total. Seven (almost 50%) of these £15 million plus deals are for super-prime houses, the balance were apartments and penthouses.
Belgravia is London’s top super-prime address for sales over £10 million; with £151 million worth of deals (7 sales). This is followed by Knightsbridge with £114 million worth of deals (8 sales).
St Johns Wood ranks in third place, with £88 million worth of deals (6 sales); ahead of Mayfair with £74 million of deals (5 sales), Kensington with £73 million of deals (6 sales), Hampstead with £54 million of deals (4 sales) and Regent’s Park/Primrose Hill with £47 million of deals (4 sales).
In eighth place comes Marylebone with £37.5 million of deals (4 sales), followed by Chelsea (£26.5 million, 2 sales) and in tenth place Westminster (£20.2 million, 2 sales).
For £15 million plus deals, the key addresses across London are Hamilton Terrace, Chesham Place, Carlyle Square, Eaton Square, Grosvenor Square, Lancaster Gate, Charles Street, Victoria Road, Wilton Crescent and Redington Road.
Aston Chase observe that whilst for the rest of London for £10 million plus deals the ratio of sales between houses and apartments is evenly balanced, in North West London super-prime deals are dominated by the sale of large luxurious new developments or new build or newly refurbished substantial family houses. In St Johns Wood, Hampstead and Regent’s Park/Primrose Hill, all the £10 million plus deals have been for new or newly refurbished homes, with five sales in excess of £15 million.
Aston Chase highlight that there have been seven houses sold in Inner London during 2017 for over £15 million. Of these seven deals, four (almost 60%) were done by Aston Chase, almost £100 million worth of property.
The leading property company reveal that all of their £15 million plus deals in 2017 have been to families, typically a couple in their mid-40s to mid-50s, with 2-3 children. These super-prime buyers have been a combination of British and international purchasers, but significantly none of them have been from EU countries.