Main image: Belgravia saw nine £15mn+ sales in H1, compared to just two during the same period in 2025
‘Mixed fortunes’ for prime housing markets as pre-Budget nerves offset falling mortgage costs
"Prospective tax changes in the impending budget have caused buyers to become more cautious in the prime housing markets, offsetting the benefit of lower interest rates," says Savills.
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Savills blames 'unprecedented' speculation around possible tax hikes in November, as top-end property prices fall across the board.
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Property prices across Prime Central London remain -19% down on their previous peak a decade ago, says Savills, 'suggesting it is still a case of when, and not if, a stronger recovery takes hold.'
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