--- title: 2024 See Resilient Growth in London’s £5M+ Property Sector description: London's £5M+ property market rebounds in late 2024, driven by high-value transactions & renewed buyer confidence in ultra-prime areas like Belgravia & Mayfair. image: https://blog.magnateassets.com/hubfs/Email%20(32).jpg --- [![logo](https://blog.magnateassets.com/hs-fs/hubfs/logo.png?width=216&height=50&name=logo.png "logo")](https://magnateassets.com/) × - [Properties](https://www.magnateassets.com/en/searchresult) - [Off-Plan](https://www.magnateassets.com/en/searchresult?proType=Off-Plan) - [Completed](https://www.magnateassets.com/en/searchresult?proType=Completed) - [High Yield Investing](https://www.magnateassets.com/en/high-yield-investing) - [HMO (Houses in Multiple Occupation)](https://www.magnateassets.com/en/property-hmo) - [Student Accommodations](https://www.magnateassets.com/en/property-student-accommodations) - [Property Sourcing](https://www.magnateassets.com/en/property-sourcing) - [Property Concierge](https://www.magnateassets.com/en/property-concierge) - [Land Options](https://www.magnateassets.com/en/searchresult?proFor=Local&proType=Land%20Options&country=UK) - [Property Bonds (Promissory Notes)](https://www.magnateassets.com/en/property-bonds) - [Buildings](https://www.magnateassets.com/en/searchresult?proType=Buildings) - [Build-to-Rent Projects](https://www.magnateassets.com/en/build-to-rent-projects) - [Equity Investments](https://www.magnateassets.com/en/equity-investments) - [Funding Partnerships](https://www.magnateassets.com/en/funding-partnerships) - [Locations](https://magnateassets.com/en/location) - Resources - [Blog](https://blog.magnateassets.com) - [Podcast/Webinars](https://www.magnateassets.com/en/video-gallery) - [Guides](https://info.magnateassets.com/guides) - Finance, Tax & Legal - [Mortgage Calculator](https://magnateassets.com/en/mortgage-calculator) - [Mortgages & Finance](https://www.magnateassets.com/en/mortgages-and-finance) - [Property Transfer & Legal](https://www.magnateassets.com/en/property-transfer-and-legal) - [Tax Planning and Set up](https://www.magnateassets.com/en/tax-planning-and-set-up) - [UK Immigration Information](https://www.magnateassets.com/en/uk-immigration-information) - [Managing Your Properties](https://www.magnateassets.com/en/managing-your-properties) - [Furniture Packs](https://www.magnateassets.com/en/furniture-packs) - About Us - [Meet the Team](https://www.magnateassets.com/en/meet-the-team) - [Contact Us](https://magnateassets.com/en/contact-us) - [UK Property Investment](https://www.magnateassets.com/en/for-uk-property-investment) - [Developer Partnerships](https://www.magnateassets.com/en/developer-partnerships) # Late 2024 Sees Resilient Growth in London’s £5M+ Property Sector Published by Keith Egan on Jan 30, 2025 After a slower start to 2024, London's ultra-prime property market saw a significant resurgence in the final quarter of the year. New research from Savills reveals that high-value transactions in the £5 million-plus category picked up pace, demonstrating the resilience of the capital’s luxury property market. ## A Strong Finish to 2024 The fourth quarter of 2024 saw 128 transactions above the £5 million threshold—a 25% increase from Q3 and an 8% rise compared to the same period in 2023. While the overall number of transactions for the year stood at 442, marking a 16% annual decline, the final months of the year signalled renewed buyer confidence. In terms of total value, £1.59 billion worth of £5M+ sales were recorded in Q4 2024—50% higher than Q3 (£1.06bn) and 26% higher than Q4 2023 (£1.26bn). Notably, the average price per transaction hit £11.04 million, the highest recorded since before the pandemic. ## Top London Hotspots for Ultra-Prime Sales In a shift from previous years, Belgravia overtook Chelsea as the top-performing location for £5M+ sales, accounting for 13% of all transactions. Other prime areas including Kensington and Mayfair continued to be highly sought after, reaffirming the dominance of [London’s](https://www.magnateassets.com/en/location/london)golden postcodes in the ultra-prime segment. ## Key Drivers Behind the Market Resurgence 1. Political and Economic Stability Earlier in the year, uncertainty surrounding the UK’s general election and the Autumn Budget created a cautious market environment. However, as the year progressed and clarity emerged on fiscal policies, confidence among high-net-worth buyers rebounded. 2. Increased Demand for Trophy Assets The most significant uptick in sales came from properties exceeding £10 million, highlighting the continued appeal of landmark properties in London’s most prestigious areas. Wealthy domestic buyers, in particular, played a key role in driving demand. 3. Impact of New Taxation Policies Changes to [Stamp Duty](https://blog.magnateassets.com/new-data-highlights-resilience-in-the-uk-property-market-amid-stamp-duty-changes) surcharges for second homes and adjustments to non-dom tax regulations were initially seen as potential dampeners for the prime market. However, rather than deterring investment, these factors encouraged buyers to act before any further changes could be introduced. ## What This Means for Property Investors London’s [luxury real estate market](https://blog.magnateassets.com/luxury-rental-markets-soar-singapore-and-london-lead-the-pack) remains one of the most resilient in the world, with strong demand for trophy properties and prime locations. The end-of-year surge in transactions suggests that 2025 could see continued momentum, particularly in super-prime areas. For overseas investors, London’s high-value property market continues to offer long-term capital appreciation and prestige investment opportunities. With demand bouncing back, prime assets in Belgravia, Kensington, Mayfair, and Chelsea remain excellent prospects for those looking to enter or expand their portfolios in the UK’s ultra-prime segment. ## Magnate Assets’ Perspective *"Despite the challenges faced earlier in the year, London’s £5M+ market has demonstrated remarkable resilience. The surge in transactions towards the end of 2024 underscores the enduring appeal of the capital’s luxury property sector. Investors who recognize the unique opportunities in prime London real estate will continue to benefit from strong demand, long-term capital growth, and the prestige that comes with owning property in one of the world’s most sought-after cities."* If you're considering investing in London’s prime property market, now could be the right time to explore opportunities before competition intensifies in 2025. [Get in touch](https://www.magnateassets.com/en/contact-us) with Magnate Assets today for expert insights and tailored investment strategies. Topics: [Insider](https://blog.magnateassets.com/tag/insider), [UK Property](https://blog.magnateassets.com/tag/uk-property), [Off-Plan Property](https://blog.magnateassets.com/tag/off-plan-property), [Real Estate Market](https://blog.magnateassets.com/tag/real-estate-market), [Market Trends](https://blog.magnateassets.com/tag/market-trends), [Rents](https://blog.magnateassets.com/tag/rents), [Mortgage](https://blog.magnateassets.com/tag/mortgage), [Investment Strategies](https://blog.magnateassets.com/tag/investment-strategies), [Overseas Investors](https://blog.magnateassets.com/tag/overseas-investors) ![Keith Egan](https://blog.magnateassets.com/hubfs/image.png) Written by [Connect on LinkedIn ↗](https://www.linkedin.com/in/keith-egan-a4585613a/) [Keith Egan](https://blog.magnateassets.com/author/keith-egan) Keith Egan has spent 30+ years in senior real estate roles across the UK, Dubai and the MENA region. As Director and Co-Founder of Magnate Group, he leads Magnate Assets focused on UK residential investment, lead generation and digital marketing and the Magnate Investments Division, Magnate's development finance and structured investment arm. Keith specialises in connecting landowners, developers and investors with regulated, technology-driven funding structures and fractional ownership solutions, bridging institutional-grade UK real estate with a wider pool of domestic and international capital. - #### Share: - [![](https://f.hubspotusercontent10.net/hubfs/445465/icon/facebook.svg)](http://www.facebook.com/share.php?u=https://blog.magnateassets.com/late-2024-sees-resilient-growth-in-londons-5m-property-sector) - [![](https://f.hubspotusercontent10.net/hubfs/445465/icon/twitter-sign.svg)](https://twitter.com/share?text=Late%202024%20Sees%20Resilient%20Growth%20in%20London’s%20£5M+%20Property%20Sector&url=https://blog.magnateassets.com/late-2024-sees-resilient-growth-in-londons-5m-property-sector&hashtags=weareawesome&via=bluleadz) - [![](https://f.hubspotusercontent10.net/hubfs/445465/icon/linkedin.svg)](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.magnateassets.com/late-2024-sees-resilient-growth-in-londons-5m-property-sector) [Back to Blog](https://blog.magnateassets.com) ### Popular Blogs \[Insider, UK Property, Off-Plan Property, Real Estate Market, Market Trends, Rents, Mortgage, Investment Strategies, Overseas Investors\] - 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