Mayfair’s supremely well-to-do Grosvenor Square currently stands as the most expensive neighbourhood in London, according to a report released Wednesday in the U.K. from Enness Global.
The high-net-worth mortgage broker analyzed sale prices across the city’s market since the start of the year for transactions at £5 million (US$6.52 million) and more.
With a median sold price of just over £27 million so far in 2020, Grosvenor Square ranked at the top.
The garden square has been one of London's most well-known prime addresses since the 18th century, and its grand mansions have been home to aristocrats, politicians and writers over the years.
Though perhaps more recently better known for its diplomatic buildings than its homes, Grosvenor Square has turned back to its high-end residential roots with the redevelopment and restoration of some of its most storied addresses, which includes the arrival of the Four Seasons’ first solely residential project.
Danewood Drive, opposite Hampstead Golf Course, ranked second with a median home price of £23.5 million, and The Boltons in Kensington followed, with a median sold price of £22.5 million.
The country’s stamp duty holiday, announced in July, has scrapped the stamp duty transfer tax on transactions up to £500,000. The economy-boosting measure will run until March 31, 2021.
