Prime central London's property market is enduring one of its longest downturns in decades, with values in the capital's most exclusive postcodes continuing to slide even as the wider UK housing market shows tentative signs of stabilisation. Estate agents report that flagship districts including Kensington, Chelsea, Belgravia and Mayfair have now seen prices fall by close to 20 per cent from their 2014 peak in real terms, with the pace of decline showing little sign of abating heading into 2025. For an asset class that has traditionally been viewed as a haven for global capital, this sustained agony carries implications far beyond SW1 and SW3 postcodes.