London's Highest Value Areas

London has always been one of the most expensive places to live in the United Kingdom, and it quickly became one of the most expensive to live in the entire world. Rivaling New York in the United States, greater London measures over 606 square miles and has a population of 9 million. The following are the top five most expensive neighborhoods in London as of March 2020.

1. Knightsbridge

Knightsbridge is one of the poshest neighborhoods in the world. It is home to fashion stores, the world-renowned department store, Harrods, and banks that cater to wealthy individuals. Many of the world's richest people call Knightsbridge home and it has some of the most expensive properties. One of the U.K.'s most luxurious pieces of privateĀ real estate is in Knightsbridge: One Hyde Park. This property boasts a swimming pool, a cinema, a wine cellar, saunas, a golf simulator, and a valet service. The average property price of a home in this neighborhood is £2.8 million, which is roughly $3.6 million.

2. West Brompton

West Brompton is an extremely pricey neighborhood in London due to the fact that it is partially in the expensive borough of Kensington and Chelsea. People walking through West Brompton are able to find such landmarks as the Troubadour Cafe where Bob Dylan performed his first gig. Additionally, the Chelsea Football Club is within walking distance, and this neighborhood has been designated as one of the villages to replace the Earls Court Exhibition Centre. The average property price of a home in this neighborhood is £1.5 million, or $2 million.

3. Chelsea

Chelsea is known to be a neighborhood for artists and has a rich history of being home to the Beatles, the Rolling Stones, and Kylie Minogue. It should come as no surprise that Chelsea is renowned for celebrity visits by Gwyneth Paltrow, Piers Morgan, and Vivienne Westwood, and even has a rose named after Prince William and Princess Kate. The average property price of a home in this neighborhood is £1.4 million, around $1.8 million.

4. Kensington

Kensington Palace Gardens, in Kensington, is one of the streets on the popular board game, Monopoly. It is no accident that the street is one of the most expensive properties to purchase in the game. The neighborhood is home to only the richest of the rich. Celebrities, entrepreneurs, and politicians, such as Lakshmi Mittal, Eric Clapton, Sir Richard Branson, and Madonna all currently live or have lived in Kensington. The neighborhood boasts a home with a private museum for vintage Ferraris, underground swimming pools, and many private cinemas. The average property price of a home in this neighborhood is £1.4 million pounds, approximately $1.8 million.

5. City of Westminster

The City of Westminster is one of the most popular areas of inner London and houses many important institutions and landmarks. After all, the Queen does live there. The City of Westminster is home to Buckingham Palace, the Houses of Parliament, and 10 Downing Street, the home of the Prime Minister. The borough also hosts some of the most popular streets in London, including Oxford Street, Regent Street, and Bond Street. It's no surprise, given its importance and central location, that it is a desirable place to live. The average price for a home in the City of Westminster is £1.2 million, approximately $1.6 million.