Budget Fears Impact London's High-End Housing Market
According to Savills, a property firm, the upcoming Budget is causing uncertainty among buyers in the £5 million-plus market, leading to a slowdown in activity.
A comprehensive analysis of sales reveals that in Q3 2025, there were 93 £5 million-plus sales, which is 18% lower than 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 compared to the same period 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, adding that
“The very top end of the market is feeling the biggest impact.”
Author's summary: Budget fears slow London's high-end housing market.