A year of notable PCL transactions

2025 was a challenging year for prime central London, particularly across core markets such as Chelsea (SW3), Knightsbridge (SW1), Belgravia (SW1), Mayfair (W1) and Marylebone (W1G). The year was shaped by prolonged tax speculation, shifting buyer sentiment and a more price-sensitive market. Transaction levels across prime London ended the year lower than in 2024, with buyers increasingly focused on value and realism when committing to a purchase.

Despite these conditions, activity did not fall away entirely. Under-offer sales rose over the course of the year and average time on the market remained broadly stable, pointing to continued demand across areas including Chelsea, Knightsbridge and Mayfair, where pricing, quality and proposition aligned. In this environment, the sales that completed were not always the biggest, but they were often the most instructive.

Reflecting on the market, Anthony Payne, CEO of LonRes, commented:

The price falls in the final quarter of 2025 were a double whammy – steep discounts, benchmarked against a relatively strong year end in 2024.

Nick Gregori, Head of Research at LonRes, added:

The prime London sales markets in 2025 saw more stops than starts, with external events and a struggling domestic economy combining to keep activity subdued for much of the year.

Against this backdrop, individual transactions still stood out. From early-year sales in Marylebone (W1G) and Chelsea (SW3) to a notable £45m transaction in Belgravia (SW1) later in the year, these deals highlight where liquidity held firm, where scarcity continued to command a premium, and how buyers engaged with value in a slower, more considered market across prime central London neighbourhoods such as Knightsbridge and Mayfair.

This article brings together 2025’s monthly standout sales by asking price, highlighting postcode concentration across SW1, SW3 and W1, and looking beyond headline figures to the types of properties in Chelsea, Knightsbridge, Belgravia and Mayfair that continued to attract buyer demand.

In a year that demanded realism from both buyers and sellers across prime central London, these are the transactions worth recognising.