Homebuyer demand in prime central London has fallen, as many purchasers in the capital continue to head for the suburbs, according to new research.

Benham and Reeves analysed buyer demand across each area of the prime London market for properties listed at £2m and above and found that interest is highest across the south-west pocket of the prime market, with demand averaging 26.3% across these locations.

At 19.9%, demand is also high in the north and north-west pockets of the prime market. However, in prime central and prime central-east London current demand is at just 9.6% and 5.4% respectively.

Barnes is home to the highest level of current high-end homebuyer demand at 37.9%, followed by Clapham at 37.7%, Chickwick at 35.2%, Richmond at 27.1%, Wandsworth at 24.7%, Putney at 24.3%, and Wimbledon at 24%.

Islington at 22.6% and Highgate at 21.3% also ranked high, while Maida Vale is the only traditionally prime central area to make the top 10.

The continued impact of the current pandemic on central London remains clear, as Canary Wharf is the least in-demand spot with high-end homebuyer demand at just 2.8%.

Marylebone at 3.8%, Mayfair at 5.2%, Fitzrovia at 5.5% and Pimlico at 6.8% were also some of the coldest spots for existing demand.

Marc von Grundherr, director of Benham and Reeves, said: “It’s not just the average London buyer that is looking to the capitals outer boroughs for a larger home and better availability of green space. This is a trend we’re seeing intensify at the very top end of the market.

“The high-end London market is very much a case of quality over quantity and so we are never going to see the huge influx of activity seen across the regular market over the last few months. Certainly not for a few thousand pounds saved in stamp duty anyway.

“However, it is unusual to see the cornerstones of the global prime property market such as Kensington, Knightsbridge and Chelsea play second fiddle to the traditionally less sought after areas of Barnes and Clapham.

“This is undoubtedly due to the current pandemic as homebuyers at all price brackets anticipate a potential second lockdown and escape the city centre until this uncertainty lifts.

“Areas such as Wimbledon are proving incredibly popular at present as they offer the best of both worlds in the current climate.”

Tables show the current level of homebuyer demand for properties priced at £2m and above across prime London locations: