Research by the leading mortgage broker for global high-net-worth individuals, Enness Global Mortgages, has found that London’s high-end homebuyers are continuing to snap up prime properties with parking across the capital’s most prestigious boroughs.
This demand remains strong despite changes to London’s motoring landscape, including increases to the Congestion Charge, its extension to seven days a week and the expansion of the Ultra Low Emission Zone.
Enness analysed current market data for prime London properties listed for sale at £3m or more that include parking.
The research found that 213 prime properties fitting this criteria were currently sold subject to contract or under offer, demonstrating continued demand for homes offering the added benefit of private parking.
London’s prime boroughs account for the largest share of high-end homes sold with parking. Kensington and Chelsea each account for 17% of all £3m+ properties sold with parking.
The London Borough of Merton has also become increasingly popular with affluent buyers, supported by strong demand for prime homes in Wimbledon. Merton accounts for 9% of all £3m+ homes sold with parking, alongside neighbouring Wandsworth.
Camden and Richmond also rank highly, with each accounting for 8% of luxury homes sold in the current market that include a parking space.
Parking remains a highly valuable feature within London’s prime property market, particularly for buyers who own multiple vehicles or require secure and convenient access to central London.
As a result, homes that already include private parking are likely to remain attractive to high-end buyers, even as motoring costs and environmental restrictions across the capital continue to increase.
