"In today’s cautious London prime property market, buyers hold a clear advantage, enjoying increased negotiating power and access to a greater range of prime property than seen in recent years"
- Katherine O’Shea - Coutts
Prime London property prices dropped 6.6% in Q3 2025, falling 2.3% compared to the same period last year and sitting 10.5% below their previous peak, according to the latest insight from Coutts. Most prime districts experienced declines, with Hammersmith & Fulham up 4% and Hampstead & Highgate increasing by 1.3%.
Prime Central London areas, including South Kensington and Knightsbridge & Belgravia, continue to trade well below peak levels, around 22–24% lower. In the latest quarter, 41.4% of transactions involved properties that had seen their asking prices reduced, while 79% of sales completed below the listed price. Both figures rose compared with the previous quarter, pointing to a firm buyer’s market.
Buyers in Central London districts such as Mayfair & St James’s are securing the largest discounts, averaging about 20%. In contrast, outer prime neighbourhoods like Wimbledon and Richmond remain more competitive, with reductions closer to 3–4%.
Transaction volumes fell 12.5% year-on-year, with analysts attributing some of the slowdown to uncertainty surrounding the Autumn Statement. Super prime sales, defined as those exceeding £10 million, were down 22% against the 10-year average, and the average super prime price per square foot stood 14.1% below its peak.
Market supply also expanded, with 14% more properties available than a year ago, further strengthening the position of buyers.
“In today’s cautious London prime property market, buyers hold a clear advantage, enjoying increased negotiating power and access to a greater range of prime property than seen in recent years,” said Katherine O’Shea, Coutts real estate director. “With the market constantly changing, getting expert advice based on solid data, from experienced buying agents like those we collaborate with at Coutts, is more important than ever. Looking ahead, the next few months will be crucial in deciding whether the market steadies or continues to ease.”
