New supply is reshaping London’s prime residential map. The South Bank is becoming London’s prime new-build hub and one of the most visible signs of this ‘subtle but important’ shift is Opus, Bankside Yards, Knight Frank’s Head of Residential Development Research, Oliver Knight, reports.

So, what does the latest report on London’s prime residential market conclude? Here are the key takeaways:

• The capital’s prime residential landscape is undergoing a quiet transformation, driven by shifting supply dynamics and evolving buyer preferences. Traditional enclaves like Mayfair and Knightsbridge are facing competition from emerging hotspots like Fitzrovia and the South Bank.
• Opus has gained early momentum, attracting domestic professionals with high-spec design, wellness features, and proximity to cultural landmarks.
• Bankside Yards is “setting a new benchmark for a relatively recent addition to Prime Central London” in terms of psf. This is not unexpected however, due to “the strength of the brand, the riverside location, and the cultural significance of the surrounding area.”
• Delivery in traditional prime markets has slowed under the pressure of build costs and complex regulations, and the South Bank has taken advantage of this.
• The trajectory of the South Bank highlights a subtle but important shift in the geography of London’s prime market – one driven as much by supply dynamics as by evolving buyer preferences.

Read the full Knight Frank report here.