The Investec Property Index analyses prime property listings across London and the Home Counties to reveal which locations offer buyers the most choice, space and value based on data from the previous 12 months.
With an increase in listings, and price reductions across the board, buying conditions are favourable. Read on to see the key highlights or click to download the full report to help you optimise your search.
Buying in London
Key findings
- The number of listings of properties priced at £1m or more increased by 12% to almost 7,000 across London’s most sought-after postcodes in 2025.
- Price trends varied significantly between postcodes. E14 (Canary Wharf) was the most affordable prime postcode on average.
- Sellers were willing to cut list prices, while it took longer for sales to be agreed in many areas than in 2024. Average price reductions ranged from 7% to 15%, creating favourable conditions for buyers.
The volume of prime (£1m+) listings in London increased
Prime property buyers had more choice in 2025. Almost 7,000 homes were listed for £1m or across the 10 postcode areas covered by the Investec Property Index. This was almost 700 (12%) more than in 2024. Only two areas – SW3 (Chelsea) and NW8 (St John’s Wood) – reported a decrease in the number of listings compared to 2024, while there were sharp rises in E14/Canary Wharf (+40% to 466) and SW19/Wimbledon (+24% to 581).
Average prices varied between postcodes
In a fragmented market, there were opportunities for those willing to be flexible on location. E14 (Canary Wharf) was the most affordable area, with prices down 5% to £1.33m on average. The steepest fall was in NW8 (St John’s Wood), where some specific heavily discounted sales meant average sales prices dropped to £2.54m.
Larger, high-quality homes were still sought-after
Space remained sought-after across areas. The average price per square foot ranged from £983/ft² in SW19 (Wimbledon) to £1,980/ft² in SW3 (Chelsea).
Sales slowed down, but the average time on the market varied by months
The average time on the market across Greater London in 2025 was 100 days. However, sales took an average of 184 days to be agreed in NW8 (St John’s Wood), up 15% on 2024, and 161 days in SW7 / Knightsbridge (+21%). SW19 sales were the quickest at 78 days.
Listing price reductions of around 10% were typical
In a slow-moving market, price reductions were common. The list price of the average prime property was cut by more than 10% in six out of 10 postcodes: the largest reductions were seen in NW8/ St John’s Wood (14.8% or £440,000), SW7 / Knightsbridge (12.7% or £442,000) and W2 / Bayswater (12.0% or £317,000). There was least scope for buyers to negotiate in SW6 (Fulham), although reductions averaged £141,000 or 6.8% of list prices.
Buying in the Home Counties
Key findings
- The number of listings of properties priced at £1m or more increased by 14% across Greater London and the Home Counties in 2025.
- Average sales prices declined in most counties.
- Sellers were more willing to cut list prices, while it took longer for sales to be agreed. Average price reductions ranged from 9% to 11%.
The volume of prime property (£1m+) listings across the Home Counties increased
While London is renowned for its high-end properties with 31,268 listings in 2024, the Home Counties offer a range of options too. More than 23,000 homes were listed for £1m or more in 2025. This was almost 3,000 (14%) more than in 2024. Every county saw an increase in the number of listings of at least 11%, with most choice available in Surrey (5,579) and Hertfordshire (3,318).
Prices remained more affordable than London, with a (0-5%) decline in most counties, year-on-year
Unsurprisingly, house prices remain lower outside of London. Average prices declined in most areas: only East Sussex (+£53,000 to £1.41m) and Hertfordshire (+£2,000 to £1.48m) recorded increases. In Greater London, the average prime home sold for £1.77m, down £62,000 on 2024.
The average price per square foot also fell
With the average price per square foot rising in London hotspots, it was possible for buyers to increase the amount of space for their budget by leaving the capital. The cost of space in all Home Counties was at least half of the cost in London. The average price per square foot ranged from £486/ft² in Essex to £590/ft² in Hertfordshire.
Price reductions of between 8-10% were typical across counties
In Greater London overall, the list price of the average prime property was cut by 11% or £220,000 in 2025.
The data shows that negotiation remained a typical feature of the prime market in other locations too. Among the Home Counties, average reductions ranged from 8.7% or £140,000 in Hertfordshire to 10.4% or £178,000 in Oxfordshire.
Sales moved slowly, but in some counties, the market outpaced Greater London
With all the Home Counties reporting an increase in time on the market, the average ranged from 90 days in Hertfordshire to 129 days in Kent. By comparison, typical sales times in London fell fractionally from 101 to 100 days.
Could a bespoke mortgage boost your buying position? Talk to our private banking team today.
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Important information:
Your property may be repossessed if you do not keep up repayments on your mortgage. Investec residential mortgages are only available for residential properties in England or Wales and are primarily available to UK residents and subject to eligibility. You should always seek independent professional advice before making any financial or investment decision.
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