LonRes figures reported by The National and Property Soup show prime London home sales fell 16.8% in September from a year earlier, the lowest September total since 2016, while average discounts reached 10.1%.
Achieved prices were 7.1% lower than in September 2025. In the segment priced at £5 million and above, new sale instructions climbed 32.5% year over year, but completed transactions fell 12.5%, the two publications reported. The increase refers to new instructions, not the total number of homes available for sale.
The discount sellers accepted also varied with time on the market. For properties sold during the third quarter of 2026, the average reduction from asking prices was 3.8% for homes sold in less than three months. For homes that took six to 12 months to sell, it averaged 11.1%, according to LonRes figures cited by the outlets.
Nick Gregori, LonRes’ head of research, told The National that activity had recovered somewhat after the summer, though it remained weak for the time of year. He linked buyer caution to borrowing costs, inflation concerns, global uncertainty and doubts about future price growth.
Large new homes represent a small share of completions in two central London boroughs. Molior London data cited by Knight Frank put homes exceeding 200 square meters at under 3% of new completions across Westminster and Kensington & Chelsea.
Native Land’s launch announcement described the Marylebone penthouse at 100 George Street as a four-bedroom duplex with more than 3,100 square feet of indoor space. It gave the private terrace’s area as roughly 2,400 square feet.
HM Treasury has scheduled the 2026 Budget for Wednesday, Oct. 28. Its announcement confirms the date but does not specify property-tax measures.
