The elite London areas with the largest property discounts in 2025

It’s no secret that London’s property market is struggling right now.

Around the corner from Hampstead Heath, countless houses on the Bishops Avenue sit empty. They’re up for sale, but they’re not shifting.

An eight-bedroom detached home went up for sale, to the tune of £20 million, in July 2024, but there haven’t been any takers. A five-bedroom penthouse on the same road was listed in September 2024, but almost a year and a half later, the £19,950,000 property is still available.

Earlier this month, research from Savills indicated that London’s most expensive properties – called ‘prime’ for being priced over £1 million – have lost a quarter of their value since 2014, largely owing to changes in the way that high-value homes are taxed. Time for the tiny violin, we know.

But against the backdrop of this struggling luxury market, there are plenty of discounts to be found.

Now, we’re not suggesting that the average Joe could afford to simply rock up and put down a deposit in Kensington.

However, the numbers have now been crunched, and the London areas with the largest property discounts in 2025 have been revealed.

The data looked at properties that were listed at £1 million and over between December 1, 2024 and November 30, 2025 – and while supply of these types of homes has technically grown over the last year, there’s been a notable increase in the number of price slashes.

This isn’t just the case for the uber-rich: the London property market is struggling on the whole.

According to figures from the Office for National Statistics, house price inflation was the lowest in the capital last year, falling by 1.2% between November 2024 and November 2025.

At the top of the list, compiled by Investec Bank, was St John’s Wood in NW8, where homes were discounted by an average of 14.8% in 2025, closely followed by Knightsbridge (SW7) at 12.7%.

It wasn’t a sad story for all of London’s elite properties, though.

For Canary Wharf, 2025 marked the beginning of a new era of investment, as the number of homes listed for sale at £1 million and over increased year-on-year.

The average home listed for sale in the heart of this business district was £1.33 million, and there were discounts of 11.1% available.

During and immediately after Covid, Canary Wharf struggled. Businesses were pulling away as more workers moved to home-working and hybrid models.

But with subsequent investment from businesses like JP Morgan (which, earlier this year, issued a full-time return-to-the-office mandate for most of its staff), it’s been able to recover somewhat.

In December 2025, research found that Canary Wharf – despite being regarded as a slightly dead zone in the past – is now the number one most searched for London location by renters looking for new digs.

Elsewhere, Investec’s research found that buyers had more power in 2025 than ever before.

Homes in Wimbledon might’ve taken around 78 days to sell, but in St John’s Wood, it took more than six months, subsequently giving interested parties more time to negotiate on those all-important discounts.

Carlos Mendes, private banker at Investec, said: ‘Investec’s research shows that London’s prime market is increasingly defined by postcode-level differences.

‘Buyers don’t necessarily need to change where they live in the capital to find better value. By comparing neighbouring postcodes, it’s often possible to secure more space, benefit from wider discounts and gain greater certainty on timing, while remaining close to work and day-to-day life.’

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