London’s Luxury Homeowners Who Bought at the Top Aren’t Selling
Only 3% of people who purchased prime properties in 2014 when price growth peaked have sold their homes.
A tree in blossom in view of Grove Hall Court residential building in St John's Wood, London.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Property owners in prime areas of London who made purchases in 2014 have seen their home values flatline since — and the stalled growth has made them unwilling to sell.
Only 3% of people who bought homes in the 10 most expensive postcodes of London in 2014 — when price growth peaked — have sold their homes in the years since, according to analysis by real estate company Hamptons. That’s much less than the rest of the country, with 11% of 2014 homebuyers in England and Wales having sold their houses and 7% of those in all of London.