Around one in five homes valued at a million or more were sold for less last year than their previous purchase price.
11th Mar 20260 768 1 minute read David Callaghan
Many homes valued at a £1m or above sold for a loss last year, new analysis reveals.
Around one in five properties – 18% – went for less than they were purchased for, according to research by the Daily Telegraph.
Most of the homes involved were in London, where prices tend to be higher than anywhere else.
Number jumpsFrom 2,653 homes purchased for more than £1 million since 2010, 478 made a loss. And in the last three months of 2025, the number sold for less rose to more than 25%.
If inflation is taken into account, the proportion of million-pound homes sold for a loss jumps to 67%, which is the highest for at least 10 years.
In Kensington and Chelsea, 41% made a loss, while in Tower Hamlets the rate was 62%.
Half priceA four-bedroom flat in South Kensington, originally bought for £5.2 million 10 years ago, sold at the start of last year for 51% less at £2.5 million.
And a six-bedroom apartment on Chelsea Embankment recorded a loss of £5.7 million, down from £14 million in 2022 to £8.2 million last year.
By comparison, homes across all price ranges only experienced losses in 8% of cases. The figures are taken from The Telegraph’s house price tool.
More sensitive
Nick Maud, Lead Analyst, Connells Group
Nick Maud, Lead Analyst at Connells Group, said: “Higher price points tend to be more sensitive to this kind of broad economic and political disruption – from the Brexit vote, to the pandemic, to the rife speculation around last year’s Budget.
“So, it is perhaps unsurprising that these discounts are more prevalent in higher-value markets, such as London.”
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TagsConnells group luxury homes 11th Mar 20260 768 1 minute read David Callaghan Share Facebook X LinkedIn Share via Email
