Prime central London’s residential market has seen a pronounced correction, with prices in some neighbourhoods falling by more than a quarter from their previous highs.
The latest figures underline the uneven nature of the decline across the capital’s most expensive districts. Inner London boroughs recorded an 8.3% fall in prices in the year to June, according to reporting by Property Wire.
Westminster experienced the steepest annual drop, with prices down 25.4% year on year. The borough contains several of London’s best-known prime residential locations and remains a key market for domestic and international buyers.
The scale of the retreat brings renewed focus to pricing, liquidity and buyer demand in prime central London. For sellers, developers and investors, the figures point to a market in which previous peak valuations may no longer provide a reliable benchmark for current transactions.
