Money blog: The 'invisible' housing market that only super rich can ever see

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The Money blog is your place for consumer news, cost of living advice and the latest on the economy. We'll be back with live updates on Monday but for now you can read our weekend features, and comment on any of the stories we're covering, below.

By Emily Mee, Money teamThe cost of living crisis has not slowed London's prime property boom. A total of 54 properties in the capital sold for £15m or more last year, costing their billionaire or multibillionaire buyers a combined £1.3bn. Many of these properties are 'invisible' to the average buyer - never making it to sites like Zoopla or Rightmove, and instead becoming part of an almost underground market accessible only to the super rich and in-the-know.

In some cases, estate agents might be asked to approach the owners of properties to find out if they're willing to sell - and while this works 'infrequently', it can help if the potential buyer is well-known.Specific requests 'I've had a request recently from somebody with a car collection who wants to house that underground,' Mr Schneiderman says. This isn't too easy to find in central London, but he says there are a 'few houses' in the Hampstead area.

 

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