London’s £10m+ sector shines as deals top the 100 mark

At least 102 properties worth £10m or more have changed hands so far in 2021, according to new analysis.

The total number of super-prime sales recorded in the year to October was higher than in both 2020 and 2019, according to new analysis, although there has been less going on at the very top-end.The total number of super-prime deals recorded in the year to October was higher than in both 2020 and 2019, although there have been fewer sales at the very top-end of the market.

The intel first reported by The Times shows 75 transactions between £10m and £20m (up from 64 in 2020); 20 between £20m and £30m (no change); and just seven above £30m (down from 13).

The total could well be higher as transactions can often take up to four months to appear on Land Registry records, and change hands via company structures.

16 super-prime buyers benefited from the stamp duty holiday between April and June, saving them £15k apiece.

Demonstrating one of the key trends of the last two years, houses have proven far more popular than flats, accounting for 80% of the £10m-plus deals recorded in 2021 – up from around 60% in pre-pandemic times.

The high-end sector’s strong run of form was flagged a few weeks ago, showing how London had seen more £5m-plus sales in the first nine months of 2021 than in any full year since 2015.