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<p>London's super-prime property market has staged a remarkable recovery in the first quarter of 2026, with transactions above £10 million surging 34% compared to the same period last year, according to new data from Knight Frank and Savills.</p><h2>The Numbers</h2><p>A total of 87 residential properties changed hands at prices above £10 million in the first three months of the year — the highest first-quarter figure since records began. The average sale price in this tier rose to £18.4 million, with several transactions exceeding £40 million.</p><p>Mayfair, Knightsbridge, and Belgravia continued to dominate, accounting for 61% of all super-prime sales by value. But estate agents report growing interest in neighbouring areas including Chelsea, Holland Park, and parts of Notting Hill where comparable properties can still be acquired at a relative discount.</p><h2>Who Is Buying</h2><p>Buyers from the UAE, Saudi Arabia, and Qatar collectively accounted for over 40% of transactions in the £10 million-plus bracket — a significant increase from the 28% recorded in the equivalent period of 2025. Buyers from India, Singapore, and Hong Kong made up a further 22%.</p><p>"London continues to offer something that no other global city can match," said William Blackwood, head of super-prime sales at Savills. "Legal certainty, cultural diversity, world-class education, excellent healthcare. For ultra-high-net-worth individuals looking for a stable base in Europe, London is the default choice."</p><h2>What They're Buying</h2><p>Demand is particularly strong for newly developed penthouses and lateral apartments with private terraces and high-specification finishes. Several developers have reported waiting lists for units that have not yet completed. Off-plan sales in Mayfair's most prestigious new developments are occurring at prices that were unimaginable even three years ago.</p><p>The data will offer significant encouragement to the government and the property industry after two years of subdued activity across the broader market. Whether the super-prime recovery can trickle down to the mainstream market remains the defining question for Britain's housing sector in 2026.</p>

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London Luxury Property: £10M+ Sales Up 34% | The Great British News | The Great British News

tgbnews.co.uk › article › londons-luxury-property-market-defies-gravity-10-million-plus-sales-up-34-in-q1

London's luxury property market is booming with £10 million-plus transactions up 34% in Q1 2026. We examine what's driving the surge and where buyers are looking.