“Kensington is currently the most oversupplied area of the prime London property market,” declares Jefferies London, after checking the situation on Zoopla.
A total of 11,385 homes were listed for sale on the portal across 14 high-value enclaves in August, with just four areas accounting for more than half that supply.
Kensington had the highest number of available properties by quite a margin: 2,230 listings equates to 20% of PCL’s entire stock. Jefferies has not shared its exact search parameters for this research, but it looks they used Zoopla’s “Kensington” search area, which includes W8, W10 and bits of W14, SW5 and SW7
Chelsea is in second place, with 12% of stock, followed by Marylebone and Notting Hill (both at 10%).
Unsurprisingly, smaller and less residential areas have fewer homes for sale. Zoopla’s Regent’s Park area represents just 2% of PCL listings, while Fitzrovia, Victoria, and Mayfair each account for only 3%, and Holland Park is at 5%.
For sale stock by prime London area (Zoopla listings in August 2025)
| Location | Homes available | Percentage of PCL stock |
| Kensington | 2,230 | 20% |
| Chelsea | 1,325 | 12% |
| Marylebone | 1,137 | 10% |
| Notting Hill | 1,115 | 10% |
| Pimlico | 936 | 8% |
| Knightsbridge | 726 | 6% |
| St John’s Wood | 717 | 6% |
| Maida Vale | 669 | 6% |
| Belgravia | 663 | 6% |
| Holland Park | 561 | 5% |
| Mayfair | 394 | 3% |
| Victoria | 378 | 3% |
| Fitzrovia | 307 | 3% |
| Regents Park | 227 | 2% |
| Prime Central London | 11,385 | 100% |
Echoing recent LonRes findings, Jefferies says prime London’s property market has been “sluggish in recent times”, with “subdued” price growth and “slow” transaction volumes “reflecting both affordability pressures and a more cautious pool of international buyers.”
Delving further into Zoopla listings suggests a garden remains the most in-demand feature in Prime Central London: Jefferies found a higher proportion of properties with this feature were marked as sold of under offer, compared to homes without.
The firm says “demand” for homes with a garden in August came in at 12.5%, which is above the same metric for balconies (10.1%) and private parking (9.6%).
Buyer demand for properties with specific attributes (proportion of Zoopla listings marked as sold/under offer)
| Location | Garden | Balcony | Parking Space |
| Maida Vale | 22.2% | 17.8% | 18.3% |
| Regents Park | 14.9% | 11.5% | 9.9% |
| Fitzrovia | 13.6% | 3.8% | 6.7% |
| Chelsea | 13.5% | 10.1% | 8.0% |
| Notting Hill | 13.1% | 9.8% | 12.6% |
| Holland Park | 12.9% | 11.0% | 11.7% |
| Pimlico | 12.8% | 13.2% | 10.1% |
| Kensington | 12.6% | 11.5% | 11.2% |
| St John’s Wood | 12.2% | 9.4% | 8.7% |
| Victoria | 10.8% | 9.9% | 8.7% |
| Knightsbridge | 10.3% | 6.7% | 4.3% |
| Belgravia | 7.5% | 6.0% | 8.7% |
| Marylebone | 5.1% | 5.8% | 5.0% |
| Mayfair | 4.6% | 2.5% | 3.6% |
| Prime Central London | 12.5% | 10.1% | 9.6% |
Damien Jefferies, Founder of Jefferies London: “The prime London market has undoubtedly been slower to recover compared to the wider capital, and we’re now seeing an oversupply of stock in key neighbourhoods such as Kensington and Chelsea, as returning buyer demand levels simply haven’t matched that of those looking to sell.
“For buyers, this represents an opportunity to secure a better price in areas that usually come with far less choice and higher asking prices.
“At the same time, our analysis highlights that homes with gardens continue to command stronger levels of demand than those with balconies or parking, which is a clear indication of buyer priorities within prime postcodes.
“In a market that remains selective and price sensitive, these lifestyle-led features are often what determines whether a property sells or sits on the shelf.”
