Richest and most expensive neighborhoods in London
As one of the largest cities in the United Kingdom and Europe, it will come as no surprise that London neighborhoods are some of the wealthiest and most expensive in the world. Nestled into the heart of this sprawling metropolis, living in these areas may come with a high price tag attached, but with some of London’s most sought-after green spaces, upmarket shopping streets, and world-renowned restaurants on your doorstep, it can be a price worth paying for many.
Read on to find out exactly what the richest neighborhoods in London have to offer in the way of opulence, wealth, and lifestyle. We hope you’ll love living in London!
1- Mayfair
Average Home Price: £6,569,082
Made up of expensive Georgian townhouses, elite hotels, and gourmet restaurants, the neighborhood of Mayfair has long been one of the most expensive neighborhoods in London.
Sitting side by side with Hyde Park and Green Park, the balance of open greenery and historic opulence has created one of the most popular places to live for the London rich. As well as the many wealthy Georgian homes, Mayfair is also home to the world-famous tailor district of Savile Row.
New Bond Street is Mayfair’s premier shopping district, housing some of the most luxurious shops and outlets. Many have noted that Mayfair’s New Bond Street is the most expensive stretch of retail in Europe after the Champs-Élysées in Paris.
The much-loved balance of greenery, quiet cobbled streets, and luxurious restaurants and shops makes Mayfair one of the most expensive neighborhoods in London and one of the most popular for those who can afford it.
2- Knightsbridge
Average Home Price: £3,986,701
Lying just south of London’s Hyde Park, the neighborhood of Knightsbridge is the epitome of luxury.
Arguably the neighborhood’s most famous institution is the Harrods department store, a luxury shopping destination with everything from exclusive designer collections by Gucci and Prada to works of art curated by Andy Warhol himself.
Knightsbridge also plays host to banks that deal with some of the world’s wealthiest individuals, which makes it no surprise that the average house price can be upwards of 2.8 million pounds.
A mix of world embassies, iconic department stores, and fine dining restaurants makes Knightsbridge one of the most luxurious-looking neighborhoods in all of the capital.
With so much available to the wealthy, it is no surprise that this neighborhood is considered one of the most expensive neighborhoods in London.
3- Chelsea
Average Home Price: £2,084,265
Chelsea is one of London’s better-known, wealthy neighborhoods, and it is easy to see why.
Much like the capital’s other luxurious neighborhoods, Chelsea is home to extravagant properties, many of which cost upwards of 2 million pounds.
This affluent area of London has become one of the most popular for the rich and famous, home to celebrities from the film world and musicians, including ex-Beatles and Rolling Stones members.
Chelsea has all of the hallmarks of your usual wealthy neighborhood but also boasts a more artistic side to its streets.
Not only do its creative residents put their twist on the opulent streets, but Chelsea is also home to the King’s Road, which was once considered to be the epicenter of counter-culture movements.
Now Chelsea’s premier shopping street, the gentrification of King’s Road blends seamlessly with Chelsea’s rich and luxurious neighborhood streets.
4- Kensington
Average Home Price: £2,438,819
Joining Chelsea to its north is the neighborhood of Kensington, which is also part of the same borough. A lot like Chelsea, Kensington is one of the richest neighborhoods in London yet has a slightly more cosmopolitan feel to it.
Firstly, Kensington comprises many stately Victorian buildings, most famously the Royal Albert Hall, which hosts concerts of all genres, from classical music to pop.
Throughout the neighborhood of Kensington, you will find iconic landmarks and institutions, including the Natural History Museum, the Science Museum, and the lavishly furnished Kensington Palace.
Kensington’s residents are a reflection of the wealth that can be found here, with many homes belonging to well-known businessmen and women, along with many politicians. Alongside the affluent residential areas, Kensington also has a booming nightlife scene, with the Kensington Roof Gardens complex taking the top spot for places to go in the area.
This oasis of gardens, clubs, and bars, which sit 100 feet above the city streets only adds to the neighborhood’s exclusivity.
5- Notting Hill
Average Home Price: £2,165,888
Notting Hill, arguably made famous by the 1999 rom-com, is one of the richest neighborhoods in London, yet it has not always been this way.
Originally a post-war neighborhood for poorer families and Caribbean immigrants, the neighborhood went through a series of gentrification through the 21st century and has now become one of West London’s most affluent neighborhoods.
Known for its famous Notting Hill Carnival (takes place in the last weekend of August) and the Portobello Road, Notting Hill still retains its sense of bohemian culture, irrespective of its now affluent society.
As one of the most expensive neighborhoods in London, Notting Hill attracts those who want to live within an opulent neighborhood but with a tinge of trendiness and hipness.
This is only increased by the huge range of brightly colored buildings, music venues, theatres, and boutique shops.
6- Highbury
Average Home Price: £717,000
The north London neighborhood of Highbury stands out as one of the greenest of the affluent London neighborhoods.
Located in the leafy districts north of the city, Highbury has an almost suburban feel to it, adding to its popularity within the wealthy community. Enjoying the perks of its proximity to the center of London, but located far away from the hustle and bustle of the city, gives Highbury a village-esque ambiance.
The sweeping green spaces of Highbury Feilds add an idyllic counterweight to the urban London neighborhood.
Home of the English football team Arsenal, Highbury has a long and textured history, again, making it a popular place to settle for those with a love of the capital and its long ties to the sport.
Those who look for more conventional social entertainment will be spoilt by the array of restaurants, cafes, and pubs that make the social scene in Highbury what it is.
Although Highbury has become one of the richest neighborhoods in London, it hasn’t any of the pretenses that may come with wealthier neighborhoods.
7- Covent Garden
Average Home Price: £2,155,797
Renowned as the entertainment center of the British capital, Covent Garden has long been a hub for all things artistic and entertaining in London.
The large neighborhood revolves around a car-free plaza that encourages outdoor arts and performance. Most notably, Covent Garden is home to the Royal Opera House, one of the most famous institutions in London, which only adds to the economic credibility and wealth of the neighborhood.
Again, Covent Garden is a neighborhood seen as somewhere you visit rather than live, and this limited number of residential properties has only aided the rise in house and apartment prices.
The economic boost provided by street entertainers, tourists, theatres, and more, blends perfectly with the range of European restaurants and bars that are scattered throughout the district.
This beehive of entertainment is what makes Covent Garden one of the most expensive neighborhoods in London.
Only in a global city such as London can you find such a neighborhood that is oiled by the flow of entertainment and performance art, turning what would be a residential neighborhood into a playground for the arts.
8- City of London
Average Home Price: £859,573
The City of London is the capital’s oldest neighborhood and the original settlement that grew into the modern cosmopolitan metropolis we see today.
The city, or Square Mile, as it is commonly known, is the heart of the city and is London’s financial and business center. Much like the US Wall Street, the intense financial connection with its streets and local industries means that the City of London is one of the richest neighborhoods in London and popular amongst young, successful professionals.
Although considered to be the center of London, City has 33 times more workers than residents and is a place to work rather than live.
The economy of the City of London, irrespective of the financial hub, relies on workers dining and drinking in the local neighborhood. This has given rise to a bustling City of London cafe, pub, and restaurant scene, only adding to the prosperity of the City of London.
9- Hampstead
Average Home Price: £1,682,250
Hampstead is an affluent neighborhood located in North London. It is part of the London bourough of Camden. With its remarkable architecture and luxury homes, this exclusive area draws a rich and famous crowd who enjoy the secluded parks, quaint cafes, and high-end boutiques that are unique to this area.
The residents here include many celebrities and well-off business people who enjoy the sophisticated lifestyle that can only be found in Hampstead.
The real estate market in Hampstead is booming; property prices here go for more than double what you’d expect elsewhere in London. Even small flats on top floors can easily sell for millions of pounds. The lavishness of these properties make them highly sought after by foreign investors who want a piece of the action.
Offering some of the best amenities available anywhere, it’s no wonder that many count Hampstead as their home. Five star restaurants, and even private members clubs are all available here for those with money to spend. With such high standards offered at every turn, it’s no surprise that this area is known as one of London’s richest areas.
10- Hackney
Average Home Price: £721,219
Hackney is one of the most expensive boroughs in London. From grand Victorian terraces lined with luxurious cars to high-end boutiques, designer stores, and exclusive restaurants, Hackney has something for everyone who enjoys the finer things in life. It’s a modern, vibrant area with plenty of green spaces, galleries, and parks where you can relax and unwind after a day full of activities.
Over the last two decades, Hackney has seen unparalleled house price growth and is now one of the most expensive boroughs in the UK. This can be attributed to a combination of factors such as new property developments, tech start-ups, independent stores, and a vibrant atmosphere. With plenty of opportunities for investment and a unique charm that attracts a steady flow of visitors and residents alike, it’s no wonder why Hackney is considered one of London’s most affluent neighborhoods.
Quick links to find rentals that meet your requirements
Moving to London soon? Excellent choice! London is a very exciting city for expats and offers plenty of options and opportunities. It is also one of the best places to live in the UK. There are so many things to love about this city.
