Sales of London’s most luxurious homes soared in 2021 to their highest number in eight years, according to estate agent Savills.
The firm said 522 properties worth £5 million-plus were sold around the capital last year, just shy of the 533 transactions achieved in this price bracket in 2013.
Nearly a third (163) of last year’s sales took place in the final quarter of 2021. These accounted for deals worth nearly £2 billion, including 51 sales each valued at £20 million-plus.
Savills said this was the second-highest quarterly sales figure ever recorded, beaten only by April-June 2014, when 166 transactions took place.
The £5 million-plus price tag continues to extend its reach across the capital, with south west London home to an 84% increase in the number of deals valued at this level last year compared with 2020.
Wimbledon, Battersea, East Sheen and Wandsworth have joined the capital’s so-called ‘super prime’ property map alongside areas such as Kensington, Chelsea and Belgravia.
Frances Clacy at Savills said: “London’s super-prime market’s stellar end to the year is evidence of the influence the pandemic-fuelled desire for more space has on residential markets.
“While we can expect to see demand from domestic buyers looking to upsize into a larger family home soften in the new year, a lack of suitable stock on the market will continue to support prices, while the supply-demand imbalance remains.”
