The number of prime central London homes worth £2 million and above rose 2.7% in 2026 so far, according to figures from Jefferies London.
The broker and estate agent said that homes worth more than £2 million now make up 35.5% of all prime central London housing stock.
This reverses the trend seen during the final quarter of last year, when Jefferies found that stock levels of homes worth more than £2 million in prime central London fell by 9.3%.
The largest increase in stock above £2 million has been seen in Regent’s Park, where the number of homes listed for sale climbed by 21.2% during Q1.
Marylebone also saw a notable increase of 17.4%, while Victoria recorded a 9.3% uplift.
Elsewhere, Mayfair saw the number of homes priced at £2 million or above increase by 5.8%, with St John’s Wood (5%), Knightsbridge (4.5%), Belgravia (3.4%), Fitzrovia (3.2%) and Pimlico (2.2%) also all seeing stock levels rise.
Only five prime London locations saw a quarterly reduction in £2 million+ stock, with the largest falls seen in Maida Vale (-13.5%), Chelsea (-3.3%) and Holland Park (-1.8%).
As a result of the renewed market confidence seen in Q1, homes priced at £2m or above now account for over a third (35.5%) of stock found across the Prime Central London market.
Mayfair remains home to the highest proportion of £2 million+ properties, where almost four in five homes currently listed for sale are priced at or above this level (79.5%). Knightsbridge ranks second at 64.9%, followed by Belgravia at 57.6%.
Chelsea also continues to boast a significant share of high-end stock, with 40.7% of homes listed for sale priced at £2 million or more, while Marylebone (38.9%), Kensington (36.4%) and Victoria (35.6%) also sit above the prime central London average.
Jefferies London founder Damien Jefferies said: “Having seen high-end stock levels fall during the final quarter of last year, our latest research suggests that there is renewed confidence on the side of prime London sellers as we move through the opening months of 2026.
“When the Autumn Budget introduced the £2 million+ council tax surcharge there was an expectation that it could discourage owners from bringing these homes to market. However, what we’re seeing instead is that sellers remain confident in both the depth of demand and the long-term appeal of the prime London market.”
Jefferies added that the start of the year is traditionally a far more active period for the property market and many sellers who held off during the latter stages of 2025 now appear to be taking advantage of improving sentiment.
He finished: “While buyers remain selective, there is still a great deal of appetite for high-quality homes across prime central London and the increase in £2 million+ stock suggests sellers are feeling increasingly positive about market conditions.”
