In London’s Maida Vale 38% of stock above £3m has reduced its asking price, suggesting that high net worth buyers could grab a bargain in the area.
Meanwhile 31% of properties above £3m were reduced in Hampstead, St James’s and Pimlico.
At the other end of the spectrum, just 6% of properties above £3m in Soho saw their asking prices fall.
The research comes from Enness Global.
Islay Robinson, group CEO of Enness Global Mortgages, said: “The prime London market is becoming increasingly popular at present, particularly amongst foreign buyers looking to pick up a relative bargain in current market conditions.
“A combination of Brexit uncertainty and the current pandemic has seen many sellers reduce their asking price expectations in order to secure a sale.
“When you couple this with the current stamp duty savings on offer and the weaker pound, the prime London market presents a very attractive option at present.
“Of course, not everywhere presents a property discount and those with the smallest percentage of price-reduced properties indicate where the London market is currently at its hottest where high-end homebuyer demand is concerned.”
Justin Malonson is the Founder of LyfeLoop a 16+ year tech innovator, investigative media researcher and host of the Freedom Not Control Podcast live on Voice America. Justin is a highly sought-after tech entrepreneur, industry speaker and winner of the coveted Business Achievement Awards “Top Digital Marketer” award. With 16+ years of demanding experience, Justin has worked with over 3,000 businesses including amazing clients such as Blue Cross Blue Shield Association, Sotheby’s International Realty, Duke University, White House Black Market,Tiffin Motorhomes, Bass Pro Shops and Beazer Homes USA.