London's cut-price mansions: How a series of super-prime houses are available for millions less than the original asking price

Mega-mansions all over London are being offered at bargain prices with one now £30million cheaper than it was a year ago.

A number of trophy homes in some of the capital's most expensive streets - including the famous billionaire's row - have not been selling so are now being offered with more 'sensible' price tags.

One cut-price mansion in St John's Wood, North London, described as Britain's finest new home, has had its asking price cut almost in half from £65million to £35 million.

Going cheap: This vast mansion in St John's Wood, north London, has had its price slashed from £65million to £35million as the high-end of the property market struggles

Grand: The property was described as Britain's finest new home but because it has not sold agents have sliced £30million off the price to encourage bidders

Stratheden, a nine-bedroom mansion near Hampstead Heath, which has a ballroom that is three times the size of the average home, was put on the market last year for £34million but is now on sale for £9million less.

Jersey House, also on Bishop's Avenue, initially had an asking price of £40 million but is now available around £33 million.

While £2.5million has been slashed from the price of an 'ambassadorial' home on Lyndhurst Road in North London, however, the seven-bedroom architectural masterpiece will still cost £46.5million.

The cut-price deals came despite the cost of buying the average home in the capital shooting up by more than 11 per cent last year. 

But experts say the mansions market is beginning to plateau with increased stamp duty and the spectre of a mansion tax meaning these are just 1.1 per cent more expensive on average in the last 12 months.

And a number of the capital's largest homes, which had enormous price-tags, have had millions taken off their asking price as they struggle to sell.

Billionaire's row: Stratheden has nine bedrooms, eight bathrooms, and a giant ballroom but is now £9million cheaper than a year ago at £25million

Plush: With polished marble floor, contemporary artwork and dramatic staircase, no expense has been spared in the newly-refurbished house

Space to breath: The mansion has an impressive - particularly for London - one-acre garden with manicured lawns, trees and box hedges and pergolas

Lucian Cook, head of residential research for Savills UK, said successive changes to stamp duty and the wider tax regime have left some prime London markets 'looking fully valued and sensitive to shifts'.

When homebuyers purchase a property costing more than £2 million have to pay seven per cent in stamp duty.

Mr Cook said: 'These results suggest that the spectre of interest rate rises, and in some parts of the market more constrained mortgage lending, is beginning to impact on buyer sentiment and constrain prices even in markets rich in equity.

'We now expect values to plateau in locations that have seen the steepest price rises as buyers apply the brakes on further increases for a period.

'Around one in five properties within our index actually recorded small price falls over the last three months, with the falls concentrated amongst higher value properties.'

Cut-price Jersey House on Bishops Ave, in north London, has had its price reduced from £40million to £33million due to increased stamp duty and the spectre of a mansion tax

Ambassadorial reception: The house, furnished to the highest standards, comes with eight bedrooms, ten bathrooms, a salon and even a cinema

All the mod cons: The mansion is equipped with a number of high-tech features which can all be controlled via iPad

Henry Pryor, a buying agent and property expert, added: 'The top end of the market is noticeably cooling and asking prices can no longer be as adventurous.

'Deal prices are often lower than the asking prices too. Buyers are putting their foot down and not paying premiums.

'As a result, vendors are accepting they won't get their asking price or they are taking the homes off the market.'

Despite the cooling of the market, one agent who specialises in selling prime property in North London says there has been an increase in deals - albeit at more 'sensible' prices.

Good deal? £2.5million has been slashed from the price of the  home on Lyndhurst Road in north London, however, the seven-bedroom architectural masterpiece will still cost £46.5million

'Ambassadorial: The house originally built for MP Russell Rea, a Victorian shipping magnate from Liverpool,  includes a steam room, gymnasium and a huge swimming pool room with vaulted ceiling and graduated pool

Trevor Abrahmsohn, who runs Glentree Estates, said: 'I currently have £100 million of deals in the pipeline, and that hasn't happened for 18 months.

'There isn't a bubble, there is a growing, healthy market. There are deals happening, but they are happening at more sensible prices.

'On The Bishops Avenue you can get a house for £1,500 sq/ft, but in central London you can be paying £6,000 sq/ft.'

'It is a reduction in the asking price, but not the underlying value.'

DM