Budget Fears Impact London's High-End Housing Market
According to property firm Savills, the upcoming Budget is causing uncertainty among buyers, resulting in a sluggish £5 million-plus market in London.
A comprehensive market analysis reveals that Q3 2025 saw 93 £5 million-plus sales, an 18% decrease from the same period in 2024, but still 72% higher than in 2019.
This year, £2.94 billion has been spent on homes priced at £5 million or more, a 15% decrease from last year, with sales of properties over £10 million significantly contributing to this decline.
“While the summer is typically a quieter time for London’s most rarefied markets, the last couple of months have indicated a decline, even accounting for seasonal trends,”
comments Frances McDonald, director of residential research at Savills, noting that the top end of the market is feeling the biggest impact.
Author's summary: Budget fears slow London's luxury housing market.
- 93 £5 million-plus sales in Q3 2025
- 18% decrease from Q3 2024
- 72% increase from 2019
- £2.94 billion spent on £5 million-plus homes this year
- 15% decrease from last year
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