Everyone loves London; the capital of England, home to some of the greatest attractions in the world, and one of the most expensive places to live. While the rest of the UK has been wallowing in a recession with house prices plummeting across the nation, there has been no shortage of overseas investors snapping up top end properties in London. This is turn has pushed the prices up and according to the latest statistics, the following are currently the most expensive places to live in London.
If you are lucky enough to own a property in Knightsbridge & Belgravia, immaterial of size, you may be considering putting it up for sale as this is officially the most expensive place to live it London. This truly is location, location, location as there really is no better place to live for those wanting to step out of their front door right into the heart of the city. The average price of a property here is just shy of £9m, but it is easy to find homes for sale for around £68m. There is a queue of Russian oligarchs, oil rich sheiks and African tycoons waiting to snap up a place here, and money is no object.
9. Kensington & Chelsea
Just the mere mention of this London borough conjures up images of opulence and wealth, and very little has changed over the years. Although lagging quite a way behind Knightsbridge, SW7 is still a highly sought after postcode. It doesn’t hurt that you have a castle in the vicinity either, and those who are a million or so short of moving to Knightsbridge are more than happy to snap up a property here. With the average property price now hovering around the £7m, it is easy to see why it has made our list.
The area known as Mayfair is in the borough of the City of Westmister and runs from the east end of Hyde Park and two of its borders are the famous thoroughfares Piccadilly and Oxford Street. The small but perfectly formed area houses many rich and famous residents and for many years was the most sought after place to live in the capital. The large, multi-storey homes which are synonymous with Mayfair can be found at every turn, and it is no coincidence that this was the home of the most expensive property on a Monopoly board with property prices averaging out at a cool £3m.
The affluent area of Marylebone sits in Central London within the City of Westminster. House prices have risen steadily here and are now changing hands for an average of £2.6m. Here you will find the area known historically as Marylebone Village as well as Regents Park and Harley Street, world famous for its medical associations.
6. Maida Vale
The residential area of Maida Vale is located is West London north of Paddington. Another area that falls within the boundaries of the City of Westminster, This affluent area has a wide selection of mansion flats in blocks from the both the Victorian and Edwardian periods. The average asking price here is £1.8m
5. Notting Hill
Best known for its famous carnival and the 1999 film of the same name, Notting Hill has really come into its own in recent years. It has a laid back, almost bohemian ambiance which is a wonderful alternative to the madness of the city centre. Another area that sits within the much lauded SW1 postcode area, Notting Hill was seen a few years ago as the most up and coming areas of London, and this has certainly proved to be the case. Average house prices have risen to around the £1.5m mark, and show no sign of depreciating any time soon.
One of the smallest, but nonetheless exclusive, areas of London, Pimlico is one of those places that many people have heard of but aren’t entirely sure where in the capital it is located. Part of the City of Westminster, Pimlico is renowned of its exquisite Regency architecture and beautiful garden squares. The fact that it covers such as small area has pushed the property prices right up in recent years, with the average now being £1.4m, making its SW1 postcode highly prized.
Dominated by the famous heath Hampstead, known locally as the village, is part of the borough of Camden and is best known for its artistic, musicals and literary associations. An area dominated by millionaires and luxury properties, anyone with aspirations of living in Hampstead will need a good few million in the bank or a very friendly bank manager with prices averaging well over the £1m mark. There is a good mix of houses and apartments in Hampstead and it is very popular with families.
Kew is one of those rare places that gives almost countryside living but is only a few minutes from the city. Most people know of Kew thanks to its world famous Royal Botanical Gardens and property prices have rocketed in recent years. As well as the gardens Kew also boasts a palace and is home to the Domesday Book which can be viewed in The National Archives. Average house prices in Kew are now well over the £1m mark, which is not to be sniffed at.
With an average property price of around £900,000 Chiswick is the cheapest, if that’s the right word, of the most expensive places to live in London. A combination of both urban and suburban living, this area of West London sits on a meander of the Thames which is extremely popular for both recreational and competitive rowing and Chiswick Bridge is the traditional finishing point for the university boat race. Another area popular with families due to its wide expanses of green spaces, Chiswick was where the city dwellers had their ‘country retreats’ in times gone by, and most of its charm is due to the rural escape it offers.