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The 10 Richest Neighborhoods in London

City of Westminster

London, which is formally known as Greater London, measures more than 610 square miles - with a population in 2023 that exceeded 9.7 Million.

London is the capital city of England/United Kingdom. This historic, southern England city is often considered among Europe’s most economically powerful cities – with five major business districts in London - only the financial center in New York City is larger. The capital city, along the Thames River, is one of nine regions in England and is served by the London Underground, which holds the distinction of being the oldest network of beneath-ground railways on the planet.

London and its culture have been exerting influence across the worlds of entertainment, education, finance, art, technology, commerce, health care, media, science and technology, tourism, and transport for decades. London is a modern city but also boasts an incredibly rich history, offering multiple World Heritage Sites to see that include, in part -

  • The Tower of London.
  • Kew Gardens.
  • Westminster/Westminster Abbey/St Margaret's Church.
  • The historic settlement of Greenwich, where the British Royal Observatory marks the Prime Meridian, 0° longitude, and Greenwich Mean Time - GMT.

Other famous London landmarks include Buckingham Palace, Piccadilly Circus, Trafalgar Square, and more.

Whether you are planning on just visiting the city of London or moving there and looking for the richest neighborhoods to move to, here is a list of the top 10 posh sections within London.

Our Methodology

London has always been one of the priciest places to live in the United Kingdom and among the costliest places globally, noted for its high-end shopping, open/green spaces, world-class Michelin restaurants, and more.

The house price tag of some of London’s toniest neighborhoods rivals the costs associated with properties in New York City, Zurich, and Singapore. However, the Daily Mail reported in 11/2023 that London was the ninth most expensive place of 173 cities analyzed across more than 400 cost-of-living price points.

To provide some context for our analysis, we reviewed current property values and trends for London’s property market overall using data from rightmove.co.uk. The analysis included -

  • Average Property Values -  Properties in London had an overall average property price of £706,412 last year (2023). More specifically, pricing for London properties was further broken down as follows  –
    • Most sales were “flats” – with an average house price of £543,183.
    • London properties with terraces sold for an average of £781,093.
    • Semi-detached properties in London had an average house price of £775,892
  • Average Rent Per Month – According to several sources (The Guardian, HomeViews, Rentberry, etc.) London’s average monthly rent is now approximately £2,500 – which accounts for all sizes and locations within the defined greater London boundaries.

To determine the richest neighborhoods in London, England, we analyzed the average property values and took a peek at the corresponding rental prices for homes in the richest neighborhoods in London and compared them to current market prices. The data and current statistics used for our neighborhood analysis for the 32 boroughs in London were obtained from –

  • Foxtons.
  • Rightmove, etc.

Given this current data and the application of some fundamental statistical analysis, we formulated the list of the wealthiest London Neighborhoods.

The 10 Richest Neighborhoods in London

From Knightsbridge to Westminster and Kensington, here is our list of London’s priciest places to live -

10. Notting Hill, London, England

  • Average Property Value – £1,019,695 ($1,097,910 US)
  • Average  Rent - £4,796 per month
  • Population – 3,097 (2022)
  • Local - Nearby Attractions - Graffik Gallery, Holland Park, and the Electric Cinema.

Back in the 1960s and even as far into the 1970s, Notting Hill was simply an off-the-track, cool neighborhood in west London for those Londoners who couldn’t afford to live in Kensington or Chelsea. This area of London is served by multiple lines of the tube, making it accessible to many parts of the city. It is known for its many stately Victorian buildings and stately townhouses, the Portobello Road Market, the Notting Hill Carnival, and high-end shopping and restaurants.

Early in the 21st century, after years of gentrification had made significant progress, Notting Hill has evolved into an affluent, diverse/multi-cultural, and cosmopolitan neighborhood – now the tenth most expensive London neighborhood. Notable residents of Notting Hill include Peter Gabriel, George Orwell, and David Cameron, to name a few.

9. Hampstead, London, England

  • Average Property Value – £1,083,150 ($1,166,233 US)
  • Average  Rent - £2,993 per month
  • Population – 8,016
  • Local - Nearby Attractions - Hampstead High Street, Burgh House, Holly Bush, Everyman Cinema (the oldest in the world).

Hampstead, which is often known as the Home of London’s Rich and Famous, is a wealthy northern London neighborhood typically known for its political, intellectual, liberal, musical/artistic, and literary associations. After 1917, and again in the 1930s, to avoid the Russian Revolution and Nazi Europe, this area of London hosted exiles and avant-garde artists fleeing oppression.

This ninth richest neighborhood in London holds the distinction of being home to more millionaires (and Prime Ministers) than any other throughout the entire United Kingdom. Within the boundaries of this part of the city, visitors and residents enjoy various museums, art galleries, public houses, cinemas/theaters, and many familiar film locations. The area has easy access to various parts of the country, with stations considered a London fare zone 2.

8. The City of Westminster, London, England

  • Average Property Value – £1,379,929 ($1,485,776 US)
  • Average  Rent - £2,924 per month
  • Population – 205,087
  • Local - Nearby Attractions - Buckingham Palace, the Houses of Parliament, and Downing Street, the home of the Prime Minister.

The City of Westminster, in which Central London is to its east, is the eighth wealthiest London neighborhood. This neighborhood in London is home to the city’s most famous streets – for example - Bond Street, Regent Street, and Oxford Street. The location in central London is where you will find Buckingham Palace, the Houses of Parliament, and Britain’s prime minister's home – so for centuries, this chic area has hosted the national government and parliament.

Given its importance and central location and an array of fine dining establishments, theatres, and high-end boutiques, it's no surprise that it is a desirable place to live, with many entrepreneurial types, multi-millionaires, politicians, and celebrities living within Westminster’s boundaries.

7. Kensington, London, England

  • Average Property Value – £1,436,238 ($1,546,404 US)
  • Average  Rent - £2,903 per month
  • Population – 142,000 (Population included with Chelsea)
  • Local - Nearby Attractions - Natural History Museum, Royal Court Theatre, Royal College of Music, and the Victoria & Albert Museum.

Kensington, despite its long list of celebrities, entrepreneurs, and politicians who call this home, ranks seventh on the richest places to live in London based on average property values. This ritzy and expensive part of London is less than three miles from Central London but is home to London’s second-best shopping street – Kensington High Street.

This wealthy area includes some of London's most expensive streets and garden squares, with residents that include Richard Branson, Madonna, and the Duke/Duchess of Cambridge. For those with deep pockets, you can purchase a home in this posh neighborhood that includes amenities like in-house cinemas or underground swimming pools – use your imagination.  

6. Chelsea, London, England

  • Average Property Value – £1,651,359 ($1,778,026 US)
  • Average  Rent - £5,824 per month
  • Population – 142,000 (Population included with Kensington)
  • Local - Nearby Attractions - Stamford Bridge, Saatchi Gallery, and the Chelsea Physic Garden.

Chelsea, the neighbor adjacent to Kensington, is an affluent enclave in West London that meets the banks of the River Thames. This funky neighborhood, once characterized as the city’s bohemian quarter, now offers upscale boutique shops and high-end grub for the artists who can afford to live in this rich part of London.

Chelsea boasts a laundry list of famous residents, including the Rolling Stones, the Beatles, and Kylie Minogue, but has been known to be one of the London communities that is also home to most Americans living outside U.S. borders. Other previous notable residents – many of whom were brilliant writers of their time include J.R.R. Tolkien, Oscar Wilde, Bram Stoker, Mary Shelly, Henry James, Mark Twain, and A.A. Milne.

5. Marylebone, London, England

  • Average Property Value – £1,696,062 ($1,826,158 US)
  • Average  Rent - £4,517 per month
  • Population – 12,157
  • Local - Nearby Attractions – Sherlock Homes Museum, Regent’s Park, Marble Arch, Wallace Collection (Art Museum), and the Lord’s Cricket Grounds.

Marylebone is a district in the West End of London that is home to some of the priciest locations to live in London, England. Marylebone, with its chic status, also has some Beatles heritage, as John Lennon was said to have rented his first flat at 34 Montagu Square and the original Apple Corp.’s headquarters were located at 95 Wigmore Street.

In addition, Marylebone is home to one of the best business schools in the world – the London Business School, Madame Tussauds, the London Zoo, and the Royal Academy of Music, among others. Notable residents – past and present include Lord Byron, Paul McCartney, and Charles Dickens, to name a few.

4. West Brompton, London, England

  • Average Property Value – £1,811,825 ($1,950,801 US)
  • Average  Rent - £4,595 per month
  • Population – 9,994
  • Local - Nearby Attractions – Victoria/Albert Museum, Under the Bridge, and the Tower of London.

West Brompton, which is primarily a residential area, is a popular place to live (or visit) if you can afford its price tag. Investopedia lists West Brompton as one of the richest neighborhoods in London, and it comes in fourth on our list of the richest London neighborhoods, where the average house price in this London area is approximately $1.9 million.

Those on their way to the Chelsea Football Club grounds often get a glimpse of various pop culture landmarks in and around Chelsea, including the Troubadour Café (a bohemian restaurant with live music), the venue that gave Bob Dylan a platform for his first solo gig, among others.

3. Belgravia, London, England

  • Average Property Value – £2,238,600 ($2,410,311 US)
  • Average  Rent - £7,916 per month
  • Population – 12,500 (Population included with Knightsbridge)
  • Local - Nearby Attractions - Ian Fleming Blue Plaque, The Grenadier, Holy Trinity Church, and Walk the Embassies.

Belgravia refers to an exclusive and posh district/neighborhood in greater London’s fashionable west end. Located in the borough of Westminster, Belgravia is near Chelsea and, south of Hyde Park, not far from the gardens of Buckingham Palace. Belgravia, which is known for its grand architecture and affluent residents, is home to many luxury shops, gourmet restaurants, and high-end real estate mansions.

Belgravia’s main residential squares include Cadogan Place and Eaton Square, both extending along King’s Road. In Belgravia’s southwest corner is the 19th-century Holy Trinity Church. Victoria Station is only a short distance from most locations when walking toward the southeast.

2. Mayfair, London, England

  • Average Property Value – £3,105,882 ($3,344,118 US)
  • Average  Rent - £8,439 per month
  • Population – 5,100
  • Local - Nearby Attractions - Grosvenor Square, The Palm Beach Casino, and Savile Row.

Mayfair refers to an affluent and exclusive area in the West End of London that is located near Hyde Park and central London. Grosvenor Square is the neighborhood’s centerpiece and consists of numerous expensive and desirable properties. Mayfair — especially in the vicinity of Bond Street — offers renowned and sophisticated art galleries, iconic landmarks, and international auction houses that include Christie's and Sotheby's.

Mayfair offers visitors and residents many high-end residential property options, upmarket shopping streets and boutiques, restaurants, and luxurious hotels along Piccadilly – with Mayfair’s prestigious status commemorated by being listed as the most expensive property square on the traditional British/London Monopoly board.

1. Knightsbridge, London, England

  • Average Property Value – £3,200,000 ($3,445,456 US)
  • Average  Rent - £11,160 per month
  • Population - 12,500 (Population included with Belgravia)
  • Local/Nearby Attractions - Victoria and Albert Museum, Harrods – the World Renowned Department Store, and the Wellington Arch.

Knightsbridge, which is one of the smallest London neighborhoods with grand Victorian architecture lining the streets, ranks as the poshest neighborhood in London and one of the ritziest/priciest in the world. Knightsbridge is home to upscale, fashionable, and expensive shops and boutiques – like the world-famous Harrods as well as many banking institutions that cater to wealthy individuals residing in London’s most expensive neighborhood.

Residents of this neighborhood that offers a rich history and astronomical property values can enjoy luxury accommodation for afternoon tea at the Park Tower Knightsbridge or a pint of British ale at the famous Knightsbridge pubs – Grenadier and The Nag’s Head.

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Dana Hanson

Written by Dana Hanson

Dana has extensive professional writing experience including technical and report writing, informational articles, persuasive articles, contrast and comparison, grant applications, and advertisement. She also enjoys creative writing, content writing on nearly any topic (particularly business and lifestyle), because as a lifelong learner, she loves to do research and possess a high skill level in this area. Her academic degrees include AA social Sci/BA English/MEd Adult Ed & Community & Human Resource Development and ABD in PhD studies in Indust & Org Psychology.

Read more posts by Dana Hanson

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