Prime central London: St John's Wood

The market in St John’s Wood is a price-sensitive one, but the buyers are serious. What they are looking for are sellers who are serious too. It is an antiquated notion that an ambitious vendor can get lucky with selling a property off-market for an inflated price. In 2025, sellers have to show buyers that they genuinely want to transact by pricing right first time.

It’s complicated. That price tag has to allow for slower perceived future capital growth, costly renovations, and high stamp duty. Nevertheless, several record-breaking deals were completed in St John’s Wood this summer.

New developments are coming that will change the neighbourhood. The old army barracks is being transformed into a 5.5-acre superprime site comprising eleven townhouses and 168 apartments across nine buildings, rising from three to six storeys.

On Abbey Road, the award-winning St. Marks boutique scheme is taking shape. One- to four-bedroom apartments and penthouses are being carefully crafted within this classic 19th-century mansion block, which is being restored and retrofitted. With homes expected to launch in 2026, these new developments will bring a certain polish to St John’s Wood.

Similar to sales, there are no easy deals in lettings, and pricing is key. Each negotiation is a balancing act to marry the needs of the landlord and the tenant. Although deal flow has been steady over the last 12 months, each property launched requires far more viewings before an offer comes in than in the post-Covid era.

Although the final and accepted offer will be competitive, it is now rarely over the asking price. Tenants are far more likely to offer six months or a year upfront to secure the deal than go over the target price.

The number of properties rented via the Bank of Mum and Dad has risen again, with students finding accommodation later in the summer than in previous years. Families moving to start school in September have been slow, too.

There is always demand in St John’s Wood for one- and two-bedroom properties, as young couples move from sharing into their own place. However, families have been reducing their spend and renting in the £2,000 to £3,000 per week bracket, down from £3,000 to £4,000. With VAT on school fees, tenants have reached a pinch point and are sacrificing extra space.

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Understanding the Renters’ Rights Bill

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