Marylebone named as London’s luxury property ‘hotspot’

Marylebone has become prime central London’s best-performing property hotspot, taking over from areas like Mayfair and Chelsea, where price rises have slowed or fallen in the last year.

As prices have slowed in London’s prime market generally, partly as a result of the higher stamp duty on properties priced over £1million, Marylebone seems to have bucked the trend, with a 0.7% rise in property prices over the last year.

While parts of London like Knightsbridge, Mayfair and Belgravia have seen property prices soar over the last ten years or so, a cooling off of price rises in those areas has boosted Marylebone’s fortunes. Buyers also consider they will get more for their money in Marylebone.

Meanwhile average property prices fell by 6.4% in the year to March.

One of Marylebone’s biggest attractions is Regent’s Park, one of London’s Royal Parks. Many new property developments have been sprung up in recent years in Marylebone, and many of them have been built right by the park.

As well as the park, Marylebone residents can also benefit from easy access to the West End for theatre and culture and the rest of central London.

Marylebone has also benefited from recent regeneration, with numerous upmarket restaurants, fashion boutiques, and bars adding to its appeal.

Marylebone buyers are typically a combination of dometic and international purchasers, attracting to the area’s impressive architecture, access to transport links, and central London location.

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The National