With real estate important for many portfolios and watched for signs of investment stress, London’s prime property market is more than holding its own, according to brokers tracking top-end sales this year.

Research published today from high net worth mortgage broker Enness Global revealed that Mayfair’s Grosvenor Square tops the list of London’s most expensive neighbourhoods, with a median sold price of £27 million for the year. Hampstead’s exclusive Danewood Drive is second with an average house sale of £23.5 million, with the Boltons in Kensington (£22.5 million) and Notting Hill’s Lansdowne Road (£20 million) also seeing the average house price top £20 million so far this year.

“Despite the problems posed by the current pandemic, we’ve continued to see a good level of transactions take place at the very top end of the London market,” CEO of Enness Global Mortgages, Islay Robinson said.

Figures show that Chelsea Barracks has proved the most popular with buyers, seeing a total of 12 transactions at £5 million or more since the start of the year, and the Knightsbridge Apartments and Chelsea Park Gardens are also popular. This chart shows the other transaction hotspots.

The broker for London’s wealthiest homebuyers suggested that while stamp duty savings may not seem significant to those buying multi-million pound homes, saving £15,000 to put towards legal fees or other costs has “no doubt” helped boost demand at the top threshold.

The firm has also seen international demand rise, which has kept transaction levels and sold prices consistently high in spite of quarantine requirements and other hurdles for overseas buyers.

“We are also starting to see a number of private banks increase their maximum loan to value for high-value purchases, which is another sign of support for this part of the market,”  the broker said.

London's Top Prime Market For 2020 By Average Sales