Q2 sees demand strengthen for properties of £2m plus
Buyer demand across both London prime and the super-prime sector strengthened during the second quarter of this year, according to the latest Prime London Demand Index by Benham and Reeves.
Its figures showed that demand for prime property in London, valued at between £2m and £10m, hit 14.5% in the second quarter, up 1% on the previous quarter and 2.2% higher than the same period a year before. The index bases demand on the proportion of all homes listed for sale across the prime market that have already been sold subject to contract.
Clapham saw the strongest demand for prime London properties, with 47.6% of all homes listed between £2m and £10m securing a buyer, followed by Wandsworth (43.3%), Chiswick (37.8%), Putney (32.5%), and Islington (32.4%).
Prime homebuyer demand also increased the most in Clapham for the quarter, up by 19.8%. Annually, other areas saw the greatest improvements in buyer demand. These included Maida Vale (+11.9%), Wandsworth (+11.5%), Clapham (+10.7%), Belgravia (+3.5%), and Pimlico (+3.2%).
Super prime market demand
In the super prime market of £10m plus, overall demand during Q2 2026 sat at 3.7%, representing a quarterly increase of +0.4% and an annual uplift of +0.5%. Pimlico recorded the strongest level of super-prime demand, with half (50%) homes in excess of £10m securing a buyer during the quarter.
That was followed by Maida Vale (+28.6%), while St John’s Wood (+4.6%), Victoria (+2.6%), Knightsbridge (+2.5%), and Belgravia (+1.9%) also saw increased levels of demand.
Meanwhile, the traditionally strongest super-prime markets saw activity moderate, with Highgate (-8.8%), Hampstead Garden Suburb (-6.5%), Chelsea (-3.9%), Kensington (-1.9%), and Mayfair (-1.7%) recording quarterly declines.
Marc von Grundherr, director of Benham and Reeves, said: “Considering the economic and geopolitical uncertainty that has persisted through the first half of the year, the performance of London’s prime property market during the second quarter has been particularly encouraging.
“What stands out is the continued strength of the capital’s established family markets. Areas such as Clapham, Wandsworth, Chiswick, and Barnes are proving especially popular with buyers who remain committed to securing quality homes in desirable locations, despite wider market uncertainty. We’ve also seen the super-prime market continue to hold firm.
“London’s global appeal remains one of its greatest strengths. Whether purchasing a family home, a long-term investment, or a trophy asset, buyers continue to view the capital as a safe and attractive destination. As a result, we expect demand across both the prime and super-prime sectors to remain resilient through the second half of the year.”
