Knightsbridge and Belgravia are currently 29.5% below their 2014 peak. Chelsea is 20.5% below. Prices in these neighbourhoods have not been at this level since 2013.
What the numbers say
In Q4 2025, 82% of transactions completed below the asking price, with buyers negotiating an average discount of more than 8%. That is a market in which a well-advised purchaser holds real leverage.
Why it will not last
Markets like this rarely announce their turn. Supply of the very best homes in prime central London is fundamentally scarce, and the buyers who return first tend to secure the properties that will not come again for a decade.
What I would do
For the right buyer — one who knows what they want and is ready to act — this is not a moment to wait. It is a moment to be specific: about the building, the street and the kind of home that will serve you for years.
The best opportunities in this market will not be advertised. They will be introduced.
