It is no secret that if you a looking for a city with a low cost of living, London certainly isn’t the place for you. Living in the capital certainly comes at a premium, largely due to its location (with pretty much all of the nation’s major businesses situated within a short journey on the famous London Underground system).
Some boroughs are, of course, more expensive than others with luxury homes and places of interest dotted around London. Here, we look at the most expensive areas of London to buy a home.
1) Kensington and Chelsea – £2,485,483
Unsurprisingly, Kensington and Chelsea come out on top as the most expensive area of London to buy a home at a staging £2,485,483 average house price (all figures per Right Move). At that price, it probably would be worth looking into a fractional ownership or timeshare option, if you are serious about owning property in such a sought after location.
2) City of Westminster – £1,992,328
Not far behind Kensington and Chelsea is the City of Westminster that sits right in the middle of Central London. Home to the Houses of Parliament and Big Ben, it is unsurprising that such a tourist hotspot comes with the hefty average price of £1,992,328. With fantastic transportation links on your doorstep and businesses to boot, as well as historical residential buildings, it is easy to understand the pull of the area. Even a modest two-bedroom apartment could set you back in excess of £1 million, so you should get saving if you are dead set on making the move.
3) Camden – £1,118,218
Significantly lower-priced than London’s top two most expensive areas, but still in the seven-figure bracket, is Camden. Famed for its edgy punk-rock marketplace, the north-west borough boasts a rich history with various notable events and personalities with links to Camden. Flats and apartments are most common in the borough, with it not being out of the ordinary to find housing costing in excess of £2 million.
4) Hammersmith and Fulham – £948,671
Forming part of Inner London, more precisely in the capital’s South West, is the borough of Hammersmith and Fulham. Here, the average house price is £948,671, which actually doesn’t sound too much in comparison to other districts. One of the things that makes the borough unique is the fact that it is home to three professional football clubs all within close proximity, these being Chelsea, Fulham and Queens Park Rangers. As well as football, the borough has a strong boxing pedigree with former world champions Frank Bruno and Joe Calzaghe having been born in Hammersmith and Fulham.
5) Richmond upon Thames – £864,137
Home of English rugby, Twickenham Stadium can be found in Richmond upon Thames, which boasts an average house price of £864,137. The only district which sits both sides of the River Thames, Richmond upon Thames forms part of outer London, which explains why house prices are considerably cheaper than the aforementioned options. Slightly out of the way of Central London, the city’s unrivalled transportation links still mean that one can travel seamlessly across the nation’s capital without too much hassle.