It can be quite interesting the difference in the property market from one area of Prime Central London to another. A simple manoeuvre of a property 5 minutes down the road can alter the asking price dramatically. For instance, Mayfair and Knightsbridge are within a small radius of one another but the property market is fairly dissimilar.
If you are interested in purchasing property in Knightsbridge, Mayfair, South Ken link below

Comparatively to 5 years ago, property prices in Knightsbridge have lowered by 17.1% while dropping only 1% in Mayfair and 11.9% in nearby South Kensington. Price per square foot in Knightsbridge sits at £1,807 (£367 less than 5 years ago) while Mayfair excels with £2,092 per square foot (only £22 less than 5 years ago).
Discount achieved on the initial asking price between the three locations also differs; 8.2% discount in Knightsbridge, to 11.1% in Mayfair & 6.9% in South Kensington. Currently, South Kensington is quite highly sought after as you can acquire a larger amount of space for the same money. The desire for space, private outdoor areas and greenery is a result of lockdown. Buyers have reevaluated their property needs, prioritising a home office in Kensington to a shorter commute time in Mayfair.
Knightsbridge - Time On Market

Mayfair - Time On Market


South Kensington - Time On Market


We could also make the assumption that this is the reason that South Kensington properties are spending half as long on the market. A massive 14.5% of properties sold in just 3 months on the market (3.8% over the central London average). Knightsbridge and Mayfair, however, are producing figures more like 4.4% and 5.6% sold in 3 months.
Many factors play a role in the value of a property and the price a buyer is willing to pay. To benefit the most from the sale or purchase, close attention must be played to the current market and buyers patterns.
Many factors play a role in the value of a property and the price a buyer is willing to pay. To benefit the most from the sale or purchase, close attention must be played to the current market and buyers patterns.
Mayfair Property For Sale