London's £10 Million-Plus Homes: Inside the Super-Prime Market
– 2 min read
London’s super-prime property market is concentrating more spending in homes priced above £10 million, even as sales across the wider £5 million-plus segment decline. Belgravia, Knightsbridge and Kensington lead the latest figures.
London Super-Prime Property Market: The Latest Figures
London’s £10 million-plus homes are accounting for a growing share of prime property spending. According to Savills, 93 homes priced above £5 million sold in the third quarter of 2026, bringing the year-to-date total to 284 transactions, down 12% year-on-year.
The super-prime segment tells a different story. Savills recorded 26 sales above £10 million in the third quarter and 89 during the first nine months of 2026. These transactions generated £2.21 billion in spending year-to-date, with homes above £10 million accounting for 62% of spending on properties priced above £5 million over the past 12 months, the highest proportion since 2019.
Where Buyers Are Purchasing £10 Million-Plus Homes
Belgravia accounted for 18% of London’s £10 million-plus transactions in 2026, followed by Knightsbridge at 15% and Kensington at 11%. Each neighbourhood presents a different residential proposition, from Belgravia’s established townhouses to Knightsbridge’s large apartments and Kensington’s family houses.
These figures describe the concentration of completed sales, not asking prices or guaranteed future demand.
Houses Versus Flats in Prime Central London
Houses have gained a larger share of high-value transactions, while flats account for their smallest proportion of £5 million-plus sales since 2021, according to Savills. The distinction matters to buyers comparing a townhouse, a detached house and an apartment: private outdoor space, room for family life, maintenance responsibilities and building services can differ substantially.
Independent reporting by The Times also points to continued activity among buyers at the top end, despite tax changes and uncertainty affecting the wider market.
For prospective purchasers, the figures suggest a selective market rather than a broad recovery. Property type, condition, location and the asking price relative to comparable completed sales remain central considerations. London's super-prime segment is holding up in value terms, but that does not mean every property above £5 million is attracting the same level of demand.
