Most sought-after road in London revealed

Michael Lloyd

November 25, 2019

Properties on Blackfriars Road in Southwark are the most sought-after in London in the prime market, London lettings and estate agent Benham and Reeves has revealed.

This road has seen 51 sales in the past 12 months totalling £227.5m.

Bishops Avenue in Barnet and Chiltern Street in Westminster rank second with 13 sales apiece.

Anita Mehra, managing director of Benham and Reeves, said: “The continued political and economic uncertainty caused by our prolonged departure from the European Union has had an impact on buyer sentiment across London’s high-end market, and we’ve seen this caution lead to a fall in transactions and a decline in the price achieved during a sale to a certain extent.

“However, to have seen as many as six sales transact over the £10m pound mark on one street alone is proof that London remains one of if not the most desirable market in the world, despite this tougher landscape.

“In addition to this, it seems as though we have very much seen the bottom of the market over the last few months and there has already been a notable uplift in buyer and seller activity which is already stimulating the prime and super-prime markets.”

In the past year, the London prime market has seen 917 sales with an average price paid of £4.5m and sales totalling £4.1bn.

In the super prime London market of £10m transactions plus, there has been 79 transactions in the past 12 months.

This averages £17.2m a sale with £1.4bn worth of property sold altogether.

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