Eight in 10 homes in London’s poshest postcodes now sell below asking price, Coutts finds

Sellers in areas such as Belgravia and Mayfair face hundreds of thousands of pounds in losses as property prices fall

Eight out of 10 properties in London’s most exclusive neighbourhoods – such as Mayfair, Belgravia and Knightsbridge – now sell below asking price, according to research by Coutts, which provides private banking services to wealthy clients.

Property prices in “prime central London”, which covers the city’s most expensive postcodes, have dropped 5% in the third quarter of 2026, as the slowdown in the UK’s property market hits its wealthiest residents.

It means some affluent people are facing hundreds of thousands, if not millions, of pounds in losses to the value of their homes, with properties selling at an average 10% discount to their asking price, Coutts found.