The most expensive boroughs in London
According to several sources, London saw a jump in house prices in January, following December’s general election. Among them is the property portal Rightmove, whose January figures showed a 2.1% increase in prices, the largest monthly rise ever recorded for Greater London.
The picture hasn’t been the same across the capital, with some of the most expensive areas of London seeing a fall in prices – among them the boroughs of Camden, Richmond upon Thames and Kensington and Chelsea. Despite this, these areas have maintained their position as some of the most expensive places to live in London – and the UK.
With its selection of elegant properties and exclusive streets, London is home to 10 of the UK’s top 20 most expensive addresses, with the majority of these sitting in the same few local authority areas – the richest boroughs in the UK.
The quest for the most expensive part of London has an enduring fascination for journalists, with new surveys released just about every month. While the street grabbing the top spot varies, depending on which report you read, the same few addresses tend to crop up each time.
These include Kensington Palace Gardens – dubbed, ‘Billionaires’ Boulevard’, with a price tag of just under £33 million; Courtenay Avenue, between Hampstead Heath and Highgate; Grosvenor Crescent in Belgravia and Illchester Place in Holland Park.
Where are the most expensive places to live in London?
The three most expensive boroughs in London; Kensington and Chelsea, Westminster and Camden rarely move from the top slots.
According to the data from Rightmove, at the top of the latest chart is Kensington and Chelsea, where the average price of a home is just over £1.5 million. Westminster’s average house price comes in at more than £1.4 million, with Camden following at an average price of more than £968,000.
Fourth on the list is Hammersmith and Fulham, by the river, where an average home will set you back more than £910,000, followed by Richmond upon Thames at £788,000. Wandsworth is next with a price tag just under £758,000.
Islington is seventh on the list – and one of the boroughs to have seen a rise in prices in January. With its good choice of period architecture, celebrity residents and strong arts and nightlife scene, the borough is an enduringly popular area of London in which to buy or rent.
The borough of Hackney falls outside the top ten richest boroughs in London. With the average house priced at £622,000, it takes the number 11 slot. But over a 20-year period, Hackney is the borough to have seen some of the highest house price growth in the UK, thanks to factors including new property developments, tech start-up employers, independent shops and a trendy vibe.
The 10 most expensive London boroughs
Kensington and Chelsea – £1,502,349
Westminster – £1,447,028
Camden – £968,276
Hammersmith and Fulham – £910,063
Richmond upon Thames – £788,004
Wandsworth – £757,972
Islington – £754,755
Southwark – £632,388
Lambeth – £628,249
Barnet – £622,784
Wondering how much your home is worth now?
If you own a home in Newington Green, Highbury, Islington, Stoke Newington, Hackney or the surrounding areas, contact M&M Property today. We will arrange for one of our experienced property consultants to provide an accurate valuation and explain how best to market your flat or house to achieve the best possible sale price.