Sales of Prime UK Properties Highest in the South and London

Although London accounts for the vast majority of high-end home sales in the UK, the pandemic has pushed some luxury buyers towards more rural and spacious locations, according to research from Enness Global Mortgages.

There were 886 prime properties, defined as those sold for £3m or more, transacted across the UK during the 12 months ending in February. The median price of these homes was just under £4m.

London accounted for 78% of all prime property transactions, highlighting the capital’s continued dominance at the very top end of the UK housing market.

The South East recorded the second-highest number of prime transactions, accounting for 15% of all sales. The South West registered 3% of transactions, followed by the East of England at 2%, the North West at 1% and the West Midlands at 0.2%.

The figures reflect a shift in buyer priorities following the pandemic, with demand increasing for larger homes and properties offering more outdoor space. This has helped support high-end market activity beyond London, particularly across southern regions of the UK.

Elmbridge in Surrey recorded 31 prime property transactions, the highest number of any area outside London. The median price of a luxury home in the area was £3.8m during the 12-month period analysed.

Buckinghamshire also recorded a notable level of high-end market activity, with 14 prime transactions. Windsor and Maidenhead followed with 11 transactions. Median property prices stood at £3.71m and £3.75m respectively.

The most expensive property sold outside London during the period was located in Teignbridge in the South West, achieving a sale price of £6.2m.