London Luxury Home Market Had Worst Year Since Pandemic

London’s luxury property market is set for its worst year since 2020, after a series of tax measures damped sentiment among wealthy and discretionary buyers. It was the second year since 2011 in which no sales above £50 million ($66.8 million) were recorded, according to data from property company LonRes.

While 2024 saw at least four £50 million-plus deals — including one mansion bought for £139 million — the biggest transactions this year were around the £40 million mark. And data from broker Savills Plc show residential sales above £5 million in the first three quarters of 2025 tumbled 18% from the same period a year earlier, putting them ...