High-end home sales abound in London’s Fulham and Hampstead, according to a report Tuesday from Enness Global. Fulham’s SW6 postcode and Hampstead’s NW3 currently stand as London’s prime property hotspots, with each recording 92 transactions priced over £1 million (US$1.3 million) in the first half of the year, the high-net-worth mortgage broker said.
“The appetite for high-end homeownership within the capital was alive and well during the first half of this year, and this is certainly something we’ve seen on the ground since the market reopened in May,” Islay Robinson, CEO of Enness Global, said in the report.
“A surge of foreign interest, in particular, coupled with the added bonus of a stamp duty holiday discount has seen demand for prime London property surge in recent weeks,” he said.
Of the 1,348 prime sales, 92% were priced between £1 million and £5 million; 97 were between £5 million and £10 million; and there were 13 transactions priced over £10 million in the first six months of 2020.
Chelsea’s SW3 postcode ranked top for ultra-high-end sales, with four homes priced above £10 million selling in the area in the first half of 2020.
“While the more traditional areas such as Fulham, Chelsea and Kensington have done well so far this year, there has been a marginal move towards areas such as Hampstead and Wandsworth,” Mr. Robinson said.
“With homeowners of all shapes, sizes and budgets now valuing more space within the home, as well outside garden space and nearby green spaces, we could see more high-end homeowners head to the capital’s peripherals in search of these features,” he added.