After more than two decades advising clients in Prime Central London, one thing is clear: the true pulse of the market is rarely captured by headlines. It reveals itself in the data, in buyer behaviour, and in the quality of opportunities changing hands quietly. And in Mayfair, those signals are strengthening.
Across the flat market, we’re seeing renewed alignment. Sellers are pricing with greater precision, and buyers are returning to the conversation. While some areas of Prime Central London remain cautious, Mayfair is once again showing its characteristic resilience.
The numbers reflect this strength. Sales revenue in OB Private’s Mayfair office has seen a 228% increase year on year, and alongside only one other agent, we completed on more residential transactions in Mayfair than any other agent.
Additionally, according to data by LonRes, since 2000, two-bedroom flats, a core segment of Mayfair’s residential market, have grown from £952,000 to £2.85 million – a rise of more than 200%. One-bedroom flats have increased by over 260%, now averaging just above £1.12 million. Three-bedroom-plus flats, which peaked at £10.7 million in 2021, remain strong at around £8.5 million – still close to eight times their 2000 value (Source: LonRes).
The house market follows a similar long-term trajectory. Five-bedroom-plus homes, once averaging £3.47 million in 2000, peaked at over £20.7 million, and even in 2023, values held steady above £19 million (Source: LonRes). This is a market underpinned by structural demand, international capital, and constrained stock.
At OB Private, we’re seeing concentrated activity in the two-bedroom flat segment, particularly between £2.5 million and £4 million. These properties offer liquidity, rental yield, and exit flexibility – making them highly sought-after assets.
Over the past 12 months, we’ve completed 7 sales of two-bedroom flats in Mayfair and currently hold 21 under instruction, representing £63.45 million in value. Meanwhile, at the top end of the market, large family flats and ultra-prime houses continue to transact – almost exclusively off-market and via trusted networks. OB Private has completed six sales above £10 million in the last year, with half arranged off-market.
We’re also witnessing recalibration at the upper end of the flat market. In key addresses like Mount Street, South Audley Street, and Upper Grosvenor Street, well-located flats are achieving £2,600 – £2,850 per sq ft. Unmodernised homes have recently reached £2,750 per sq ft, while modernised, top-spec equivalents have achieved up to £6,300 per sq ft.
Mayfair is not moving quickly – it’s moving quietly and with precision. Buyers are focused, and when product, price and positioning align, transactions are completing swiftly and without publicity. This is not a market that rewards hesitation. It rewards clarity.
Mayfair remains one of London’s most desirable and tightly held residential districts in London. Today, with the right approach and the right advice, it is presenting a compelling window for strategic acquisition.
If you’re considering your next move, I would be pleased to provide discreet, expert guidance shaped by over 25 years of local market insight.
