One of the world’s greatest cities, England’s capital has long been a global hotspot for luxury, upmarket properties, attracting buyers from around the world. London neighbourhoods like Kensington, Mayfair, Chelsea, and Knightsbridge have had a long association with affluence and prestige.
Yet in recent years, property prices in some postcodes have reached remarkable new heights. This has made London one of the most expensive real estate markets in the world. There are various reasons for this growth in demand, from the UK’s attractive taxation policies for non-residents and relatively stable economy to its cosmopolitan lifestyle and prestigious schools and universities. For some buyers, owning property in one of the top areas is considered a trophy asset in their collection.
In this article, we’ll explore some of the most expensive streets in London and highlight some of the factors that make them desirable places to own property.
Kensington Palace Gardens
With its proximity to Kensington Gardens, Hyde Park, and Notting Hill, it’s easy to understand the appeal of living in Kensington Palace Gardens. This road sits on a premium piece of Crown Estate land in west London, so it’s a postcode that is highly desirable.
As Kensington Palace Gardens homes are rarely put up for sale, it’s hard to be sure of an average property price. However, a six-bedroom, six-bathroom Palace Gardens terrace is listed with Sotheby’s International Realty for £11.5 million.
Buckingham Gate, Westminster
Just a stone’s throw from Buckingham Palace is Buckingham Gate, where the average asking price for properties is £9.6 million. While this may seem high, it’s nothing compared to the £45 million asking price for an eight-bedroom, white stucco fronted 19th century Grade II listed property that is currently on the market there. Meanwhile, a three-bedroom apartment is listed for £13 million.
With royal neighbours and St James’s Park just a short stroll away, homes here are superbly located for everything central London has to offer, including excellent dining, shopping, attractions, and entertainment. Owning property here offers serious status-enhancing credentials.
Vicarage Gate, Holland Park
Those lucky enough to own a home on Vicarage Gate in west London’s Holland Park also have proximity to a royal residence – Kensington Palace. Rightmove data suggests average property prices in this leafy part of the Kensington and Chelsea Borough sit at around £6.3 million. Renting might also be an option, with costs at around £30,000 per calendar month to rent a four-bedroom family home on the street. This seriously upmarket part of London comes with prices to match.
The Boltons, Chelsea
The Boltons is a pair of crescents in the Brompton district of the Royal Borough of Kensington and Chelsea. This affluent part of London is home to an array of impressive Victorian homes, designed by architect George Godwin in the 1850s. Many have been restored to make them the perfect modern urban dwellings. In the middle of either side of the street are communal gardens and a church.
Chelsea is well-known for being one of the capital’s most desirable neighbourhoods, with charming streets and upmarket shops. However, thanks to its stunning properties and superb location, The Boltons truly stand out in this exclusive area. Even with average property prices of around £15 million, it’s easy to see why this street is a regular inclusion on lists of London’s most desirable places to live.
Park Road, St John’s Wood
Another prestigious address that is a contender for being one of London’s most expensive streets is Park Road, St John’s Wood. With a blend of convenience and exclusivity, St John’s Wood has long been a popular neighbourhood with Londoners and overseas buyers. This street offers a range of luxurious properties, many with impressive Victorian and Edwardian architecture. Those who reside here also have easy access to nearby Regent’s Park, as well as a great selection of independent shops, cafes, and restaurants.
This road’s desirability has increased in recent years, with average asking prices of £5.8 million. Pop star Rihanna rented an eight-bedroom white stucco mansion in the neighbourhood until 2020, which has since sold for £27.5 million.
While London’s property market is hugely in demand, there is no shortage of luxurious residences across the capital. These streets offer superb access to everything the city has to offer, plus prestige for those who own property along them. With buyers from around the world highly attracted to London, the real estate market here looks set to thrive even further.
