Despite the property market cooling in recent months the price of buying a home has never been higher, so when it comes to the huge London townhouses and 5-bed suburban dwellings prices can be astronomical.
The average price of a house in England and Wales currently stands at £184,682, but what about those who prefer the finer things in life? Where five bathrooms aren’t good enough, and a swimming pool and steam room is considered a human right.
Property Rescue decided to investigate and uncover the UK’s most expensive neighbourhoods, and unsurprisingly found that they all lie in and around the capital.
The East of England continually sees the biggest growths in house prices with homes worth 8.4 per cent more than last year, seeing the average price of the likes of Chelsea, Notting Hill, and West Brompton comfortably sit above £1million.
London property averages at almost £500,000 but sitting top of the list is Kensington, where residences are worth an average £1.74million. Such is its regard, the area includes a street which is home to the ambassadors of Kuwait, Saudi Arabia, Russia, and Finland just to name a few.
Located in the west of London, surrounded by other affluent areas including Notting Hill, Knightsbridge, and Chelsea, the area includes a wealth of London’s premiere hotspots including the Natural History Museum, the Royal College of Art, and the Royal Albert Hall and Kensington Palace.
The list is entirely made up of London locations, with neighbourhoods in Kent and Hertfordshire missing out, whilst the quiet commuter town of Virginia Water, Surrey is the only area outside London which makes the list.
The birthplace of the Ryder Cup, Virginia Water is the seventh most expensive area to buy in the UK with prices just short of £1million, yet even this town is still only a few miles from London’s international airport, Heathrow.