Kensington and Chelsea regularly finds itself at the top of the list of London Boroughs with the highest average house prices. The area also appears prominently when you look at the value per square metre, exceeding £9,000. Not every metric shows the area as the wealthiest though. A new methodology created by eMoov only placed the Borough sixth. The number one according to this calculation is Croydon.
So how does this new methodology work? Instead of looking purely at the price per square metre eMoov cross referenced with data from London Datastore to take into account the amount of land in the Borough taken up by residential properties and gardens. They then used the average cost per square metre in the capital (£2,401) to determine the number of property assets and the wealth of each area.
When using the new methodology, Kensington and Chelsea came sixth with £41.3 billion. Although this is much higher than the average for London (£28.3 billion) it is substantially behind Croydon. The southern Borough had a wealth of £77.2 billion. Even second placed Richmond Upon Thames (£58.7 billion) couldn’t come close to the larger Borough.
Although Kensington and Chelsea does remain one of the most valuable prime markets there are other areas in the capital with more housing assets on offer due to the geographical size of the areas. This is advantageous in terms of sheer numbers but the Central London Borough has the exclusivity feel. This will continue to add value and draw investors. The location couldn’t be better either.
At Finefair we manage a number of assets all across London for our clients. We have become a leading name because we always provide unbeatable standards and excellent value. When it comes to guaranteed rent Kensington and Chelsea has no better provider than us. We will offer expert advice, help with arranging everything, and our full support throughout the agreement.
If you are an investor with properties in the Borough and want a reliable service from a long serving company we are here for you. Get in touch to find out more and see exactly what benefits we can offer you.