Appetite for property priced over £10 million ($15.6 million) in London and the Home Counties stayed buoyant in the last quarter, underlining that while austerity is biting elsewhere, the pockets of the international super rich are still laden. 

According to The Buying Solution, the private real estate buying arm of estate agent Knight Frank, international buyers in London and surrounding counties are keeping prices buoyed.

Philip Selway, managing partner, said: “London continues its pre-eminence as one of the best places in the world to live and this, coupled with the widely-held view that it is also one of the safest markets in which to invest, has meant that interest and transaction levels remain at a high level."

He said the main interest centres around the usual addresses such as Knightsbridge, Mayfair, Kensington and Chelsea, and there are an increasing number of nationalities actively buying. "More than 60 different nationalities are known to have purchased in London in the last year, including those from the European countries affected by the euro crisis such as Italy, Greece and Turkey," he added.

It was recently reported that the number of French nationals now living in London makes it France's sixth biggest city in terms of population, and recent political changes in the country could lead more wealthy French citizens to flock to London.

The Chinese are also beginning to see London as a significant point of destination, but it is mainly the investment market that attracts these buyers; new high-tech buildings close to the river are particularly popular, said Selway. 

Home counties

Meanwhile in counties near London such as Berkshire, Buckinghamshire, Surrey, South Oxfordshire and West Sussex, appetite for the top property is even stronger, said Nick Mead, associate in the Home Counties.

“The area of the market that is creating the greatest excitement is the £10 million+ ‘trophy house’ market – there have been several notable transactions this spring. A good example would be Octagon’s Upper Ribsden which was put on the open market at £25 million and sold quickly in excess of this figure. Those purchasing in this price range are seemingly unaffected by the wider economic issues. This is a market still largely driven by the international buyer who sees England as a safe haven and the Home Counties as good value.”

Recent changes to UK stamp duty together with funding issues (lending is scarce and the time taken to arrange finance is, in some cases, prohibitive), means that there may just be a degree of caution entering the market.

However, Mead is not worried. He believes it will take time to reassess before new structuring can be introduced, and he does not anticipate that the markets, particularly in prime London, will be unduly affected.

Here WealthBriefing picks the top London trophy homes on the market, worth over £10 million. 

1. Paget House at Cornwall Terrace, Regent’s Park: £27 million

Situated in the southwest corner of Regent's Park, the Grade 1 listed Cornwall Terrace residences have fantastic views across the park. All the houses retain classical features and each house has its own a passenger lift, garaging, a separate mews flat with additional garaging and is individually interior designed and furnished. Of the eight houses originally offered for sale, half have sold. For more information contact Beauchamp Estates: www.beauchamp.com

2. Hamilton Terrace, St John’s Wood: £37.5 million

This six-bedroom house in Hamilton Terrace was interior designed by Bill Bennette to offer a glamorous, contemporary space. There is a gated driveway with parking for two cars at the front, a voluminous kitchen leading to a patio and landscaped garden. The lower ground floor incorporates a leisure complex with a gym, pool, steam room and luxurious massage/treatment room. There is also a plush cinema room with a bar and games room. Upstairs, the entire first floor is devoted to the principal suite and there are three guest/staff bedrooms in the attached mews house. For further information contact Aston Chase: www.astonchase.com

3. Nash House, Regent’s Park: £10.5 million

Once the home of John Nash – the architect who designed part of Buckingham Palace - Nash House on Chester Terrace is a low-built Grade 1-listed 4,823 square foot villa. The house has three floors and four ensuite bedrooms, including a staff/guest bedroom. There is a formal drawing room providing direct access to a private west facing garden. There is a cinema and a large wine cellar. For more information go to Aston Chase: www.astonchase.com