"When you're purchasing a property in the prime market, size really does matter and almost every prime London neighbourhood boasts an average property size superior to that of the average London home"
- Guy Gittins - Foxtons
Foxtons analysed almost fifteen thousand current property listings across 20 prime London neighbourhoods to find the current estimated average square footage of for-sale stock on offer to the capital’s high-end homeowners.
The research shows that just one prime neighbourhood sits below the average London property size of 65.5 square metres when it comes to homes currently listed for sale. Properties listed for sale across Midtown, City and City Fringe, comprising the EC1A and EC2N postcodes, currently average just 61.3 square metres.
The average size of a home currently listed for sale across Mayfair and St James’s is palatial in comparison. At an average of 166.5 square metres, the neighbourhood boasts the largest properties in prime London, coming in two and a half times the size of the average London home.
Knightsbridge and Belgravia is also a safe bet for those in search of a substantial home, with the average property currently listed for sale boasting 132.9 square metres.
South Kensington is home to the third largest homes in the prime London market at 113.3 square metres, although Hampstead (112 sq m), Marylebone (107.4 sq m), Richmond, Kew and Sheen (107.2 sq m), and Chelsea (103.9 sq m) also offer an average property size of over 100 square metres.
Foxtons CEO, Guy Gittins, commented: “When you're purchasing a property in the prime market, size really does matter and almost every prime London neighbourhood boasts an average property size superior to that of the average London home.
"Since the pandemic, we’ve seen buyers place a far greater emphasis on finding larger family suitable homes and while Covid restrictions are now thankfully a distant memory, many are continuing to prioritise size when searching for their next property.
"Of course, in a market such as prime London, space does come at a premium and while the average home in Mayfair and St James’s may currently boast 166.5 square metres, such a property will require a buyer with considerable purchasing power.”
