Notting Hill’s luxury homes attract buyers for the long term
31 January 2020
//php print ($title); ?>
House prices in Notting Hill, a smart enclave of west London, gained 1.4 per cent in 2019 — the only one of the 12 prime central London districts tracked by Savills to record a gain over the period.
Such scant gains are relative. Prime prices in the area — which is famous for its antiques market on Portobello Road and its rows of Instagram-friendly coloured terraces — are still 17.6 per cent lower than they were during their peak in 2014.
Nonetheless, Notting Hill’s luxury homes have become proportionally more attractive to wealthy buyers: in the two years to 2014, Notting Hill accounted for 5.2 per cent of the spend on homes above £2m in prime central London, according to LonRes analysts; in the two years to 2019, it accounted for 9.2 per cent.