Overall stock climbs but conditions vary widely across the capital's most prestigious postcodes
The number of homes listed for sale at £2 million or above across Prime Central London rose in the second quarter of 2026, though conditions vary considerably between neighbourhoods, according to new analysis from estate agency Benham and Reeves.
The firm examined current listings across Prime Central London to track quarterly movements in high-value stock. It found 3,911 homes currently on the market at £2 million or more — a quarterly increase of 2.5%.
Supply growth was most pronounced in Regent's Park, where £2 million-plus listings rose 25.4% over the quarter. Notting Hill followed at 15.8% and Knightsbridge at 10.7%. Smaller increases were recorded in Kensington (4.1%), Chelsea (3.5%) and Marylebone (2.1%).
Several established prime areas saw the opposite trend. Maida Vale recorded the steepest quarterly decline at -7.8%, followed by Belgravia (-5.4%), Mayfair (-3.2%), St John's Wood (-1.9%) and Victoria (-1.5%).
Despite the fall in available stock, Mayfair retains the highest concentration of super-prime listings in London, with 75.4% of all current properties in the area carrying an asking price of £2 million or above. Knightsbridge follows at 67.4% and Belgravia at 57.4%.
"One of the biggest mistakes people make is talking about Prime Central London as though it's a single market," said Marc von Grundherr (pictured right), director at Benham and Reeves. "It isn't. Every postcode behaves differently because each attracts its own buyer profile, stock mix and level of international demand.
Von Grundherr noted that while overall supply had continued to edge higher, the variation between neighbourhoods reflected how localised the prime market had become. He added that simply listing a property was rarely enough in current conditions, with buyers growing more selective and transactions taking longer.
He said agent relationships had become increasingly valuable as a result. "The ability to collaborate, share opportunities and access trusted networks across London and internationally is helping agents connect highly specific buyers with highly specific properties in a market that is becoming more fragmented, not less," Von Grundherr concluded.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
