At Winkworth, we’re seeing renewed momentum build across Prime London following the Autumn Budget, with activity picking up sharply at the top end of the market.
What is traditionally a quieter period of the year has been marked by a noticeable surge in high-value listings, suggesting that confidence among prime sellers and buyers is proving more resilient than many anticipated.
A surge in £2m-plus listings
New data indicates a clear post-Budget uplift in prime London activity, with a significant wave of homes priced at £2 million or more coming to market in the fortnight following the announcement of the new council tax surcharges—often referred to as the “mansion tax”.
In just two weeks, 444 £2m-plus properties were listed across the capital. To put that into context, these homes now represent close to one in ten of all £2m-plus listings currently available in London — an unusually high proportion for this time of year.
The increase has been particularly pronounced in several established prime boroughs, where the share of newly listed high-value homes has risen well above typical seasonal levels.
Why prime sellers are acting now
Rather than dampening activity, the introduction of higher ongoing property taxes appears to have acted as a catalyst for many owners. Sellers who had previously been undecided are choosing to bring property to market sooner, responding decisively to greater policy clarity.
This behaviour reflects a familiar pattern in Prime London: when uncertainty clears, decision making accelerates. For many high-value homeowners, the Budget has provided the certainty needed to act—prompting a release of pent-up supply.
Buyers remain undeterred
Crucially, demand at this level of the market appears robust. Historically, buyers operating in the £2m-plus bracket tend to take a long-term view of ownership and are less sensitive to incremental tax changes. For these purchasers, Prime London continues to represent a globally desirable, lifestyle-driven investment, underpinned by limited supply and enduring international appeal.
It’s also worth noting that the volume of new listings seen in just a fortnight far exceeds the number of transactions typically completed in December, underlining just how unusual this spike in stock has been.
What this means for early 2026
While not all of these newly listed homes will complete before Christmas, the rise in available stock is likely to set the tone for a far more active start to 2026. Increased choice should encourage buyer engagement, sharpen pricing conversations and support transaction volumes as the market moves into the new year.
At Winkworth, we believe this wave of prime stock could mark the beginning of a more dynamic phase for London’s upper market—one defined less by hesitation and more by realism, opportunity and renewed confidence.
If you’re considering selling or buying in Prime London as we head into 2026, our teams across the capital are well placed to help you navigate what is shaping up to be a notably more active landscape.
Source: The Negotiator and Jeffries
