Jefferies London analysed current market listings across each area of the prime central London market, revealing that there are currently over 11,000 homes for sale at the very top end of the London market.
Kensington leads the way for available stock, with some 2,230 homes currently on the market, accounting for a significant one in five of all prime properties listed for sale. Chelsea follows with 12%, then Marylebone and Notting Hill with 10% each.
The most exclusive postcodes are less well-supplied: Regent’s Park represents just 2% of all listings, while Fitzrovia, Victoria, and Mayfair each account for only 3%.
Further analysis by Jefferies London has shown that when it comes to the prime property features most likely to attract buyers, a garden remains the most desirable.
Homes with gardens remain the most in-demand feature across prime central locations. Demand for homes with gardens sits at 12.5%, notably higher than the 10.1% recorded for those with balconies and the 9.6% seen for homes with private parking.
In Kensington, where stock levels are highest, demand for homes with gardens is also stronger than for other features, with 12.6% of listed properties attracting buyers compared to 11.5% for balconies and 11.2% for parking. This suggests that while buyers may have more choice in the current market, outdoor space remains the defining factor in where demand is directed.
Damien Jefferies, founder of Jefferies London, commented: “The prime London market has undoubtedly been slower to recover compared to the wider capital, and we’re now seeing an oversupply of stock in key neighbourhoods such as Kensington and Chelsea, as returning buyer demand levels simply haven't matched that of those looking to sell.
"For buyers, this represents an opportunity to secure a better price in areas that usually come with far less choice and higher asking prices.
"At the same time, our analysis highlights that homes with gardens continue to command stronger levels of demand than those with balconies or parking, which is a clear indication of buyer priorities within prime postcodes.
"In a market that remains selective and price sensitive, these lifestyle-led features are often what determines whether a property sells or sits on the shelf.”
