{
  "id": 16044826,
  "title": "London’s prime properties take a 10% hit but new super homes emerge",
  "url": "https://urgent.news/2026/10/22/londons-prime-properties-take-a-10-hit-but-new-super-homes-emerge-16044826",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-22T12:19:26.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/news/uk/2026/10/22/londons-prime-properties-take-a-10-hit-but-new-super-properties-emerge/"
  },
  "original_language": "en",
  "account": "In September, prime properties in London experienced a 10.1% discount rate, resulting in a 7.1% overall price decrease compared to the previous year. The number of sales was the lowest in this month since 2016, with a 16.8% drop in transactions and 13.9% fewer than the pre-pandemic average. However, properties worth over £5 million saw a 12.5% decrease in sales, yet a 32.5% increase in new instructions. Buyers continued to pay below asking prices, with prices now 8.2% lower than pre-pandemic levels. The founder of Addison Lee, John Griffin, sold his mansion overlooking Regent’s Park for £11.5 million, significantly lower than his original purchase price of £20.7 million. LonRes emphasized the importance of setting competitive initial asking prices to avoid excessive discounts. The market shows slight movement at the top end, with 32.5% more new £5 million-plus instructions compared to September 2025 and 63.6% higher than the 2017-2019 average. Factors driving lower demand include borrowing costs, perceived lack of future growth, global uncertainty, and inflation concerns. The £5 million-plus market remains most impacted by uncertainty and weaker sentiment, with fewer buyers and sellers.",
  "summary": "Sellers of properties in prime London postcodes were forced to accept discounts of 10.1 per cent in September, as overall sale prices fell by 7.1 per cent compared with a year earlier. The number of sales was the lowest in any September since 2016, according to property analysts LonRes, with 16.8 per cent fewer transactions than September 2025 and 13.9 per cent fewer than the 2017-20129…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}