"This caution on the side of sellers continues to shape the market, and we expect this trend to persist, at least until the dust has settled on the Autumn Budget "
- Damien Jefferies - Jefferies London
The latest analysis of prime London property from Jefferies London shows that homes priced at £2m or more accounted for just 35% of the capital’s for-sale stock in the third quarter of 2025, a 4.3% decline from the previous quarter.
Jefferies London reviewed current listings across London to determine the proportion of homes above £2m and which neighbourhoods offer the most high-end housing options.
The data reveals that, across the capital, the number of homes listed at £2m or more fell by 4.3% between Q2 and Q3.
Notting Hill (pictured) recorded the steepest quarterly drop at -15.4%, followed by Maida Vale at -10.7%, Holland Park at -10.4%, Knightsbridge at -9.4%, and St John’s Wood at -6.3%.
However, some areas showed growth despite the overall decline. Mayfair experienced a 17.8% rise in £2m+ listings compared with Q2, while Regent’s Park saw an 8.6% increase. More modest gains were reported in Pimlico (4.0%) and Fitzrovia (0.9%).
Overall, £2m+ listings make up 35% of all prime London stock, though the capital’s most prestigious postcodes continue to be dominated by high-end properties.
Mayfair leads the way, with 78% of homes listed above £2m. Knightsbridge follows at 63%, with Belgravia at 57%. Kensington (39%), Chelsea (40%), Marylebone (38%), and Fitzrovia (38%) also have a significant proportion of their listings in the £2m+ bracket.
“The quarterly decline in prime London listings reflects a combination of factors," comments Damien Jeffries, founder of Jefferies London. "On the one hand, the prime market has been slightly more active in recent months, and this has absorbed a portion of available stock."
"On the other hand, many sellers remain hesitant to enter the fray, unconvinced that they will achieve the price they require whilst the market remains more subdued. This caution on the side of sellers continues to shape the market, and we expect this trend to persist, at least until the dust has settled on the Autumn Budget and we know where we stand moving forward for the foreseeable future.”
