London's super-prime property market is experiencing a fundamental shift as wealthy buyers increasingly adopt a 'dip-in, dip-out' pattern, flying in for brief stays rather than maintaining full-time residences. This behavioral change, accelerated by pandemic-era work flexibility and tax considerations, has seen many of Knight Frank's wealthiest clients relocate their primary homes outside the UK while still maintaining London as an anchor for business and social life.

Budget allocations for London properties have been reassessed accordingly, with buyers who once considered £20mn-£40mn now viewing £10mn-£20mn as more appropriate exposure. This represents a material drop in spending despite still securing sizeable residences in premium buildings. The trend mirrors patterns in New York, where residents have moved upstate or to Florida for quality of life while maintaining Manhattan connections for work.

The market data confirms this shift: £1.86bn was spent across 107 sales above £10mn during 2025, compared to 168 sales totaling £2.95bn in 2021. Though the average price remains similar, there were 40 per cent fewer sales of £20mn-plus homes in 2025, even as more than 340 billionaires were minted globally during the same period.