21 Richest Areas In London Revealed (2024)

From photogenic streets lined with huge mansions to elegant manors that are the picture of timeless charm, the richest areas in London offer a peek into luxury living. ECA International revealed in 2023 that London is the fourth most expensive city in the world! These 21 wealthy neighborhoods in London are some of the fine examples of magnificent architecture, amazing style, and cutting-edge amenities that all come together to create an outstanding living experience. Let’s take this ride to explore the most expensive neighborhoods in London! 

Top 21 Richest Areas in London 

Whether you are planning on just visiting the city or looking for rich places in London to move to, here is a list of the top 21 expensive London neighborhoods.

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1. Knightsbridge

Best Known for: Exclusive shops and department stores like Harrods, Harvey Nichols
Tourist Attractions: Victoria and Albert Museum, Harrods, Wellington Arch
Average Home Purchase Ranges: £3 million - £25 million
Cost of Living: £3,000 - £4,000 per month

Knightsbridge, located in the City of Westminster, is one of the richest areas in London. It is renowned for its high-end boutiques, exclusive restaurants, and luxury properties. This expensive area in London caters to homeowners, tenants, and visitors alike, offering a blend of history, top-tier education, and premium amenities.

Knightsbridge, with a captivating history that traces back to the 11th century, has transformed from a humble village to a chic residential district in the 19th and 20th centuries. Today, it stands as a prestigious area, steeped in opulence and elite addresses, yet rooted in a fascinating past.

Educational institutions in Knightsbridge are exceptional, including primary schools like Knightsbridge School and Hill House School, secondary schools such as Francis Holland School and The American School in London, and higher education institutions like Imperial College London and the Royal College of Music.

Knightsbridge, despite its luxurious allure, is a place of safety. With crime rates consistently below the national average, it offers a secure environment for residents and visitors. So, while you're here, don't miss out on the unique and quirky dining experiences that London has to offer! 

2. Kensington

Best Known for: Victorian and Georgian architecture
Tourist Attractions: Natural History Museum and Victoria & Albert Museum
Average Home Purchase Ranges: £2 million - £30 million
Cost of Living: £3,000 - £4,000 per month

Kensington is one of the best places and the richest areas in London. It stands as the epitome of luxury, housing some of the world's wealthiest people, including Roman Abramovich and Lakshmi Mittal. This exclusive street, often termed a "millionaires' row," showcases grand, detached mansions valued at around £41 million on average, dwarfing the typical UK home. 

Despite its quiet demeanor and tasteful reserve, the street's immense properties and high-security measures, including armed police and CCTV, highlight its exclusivity. Built in the 1840s, this expensive neighborhood in London has long been a symbol of extreme wealth.

In recent decades, global capitalists have reclaimed these properties, willing to spend excessive sums for temporary ownership. The presence of luxury service vans and meticulously maintained gardens reflect the luxury of the street. Yet, despite its grandeur, this richest area in London stands in stark contrast to the rest of the city, exuding a peculiar, unwelcoming atmosphere that emphasisesthe unique lifestyle of its super-rich residents.

3. Chelsea

Best Known for: Affluent residential areas, high-end shopping, world-renowned football team, and beautiful gardens
Tourist Attractions: Stamford Bridge, Saatchi Gallery, Chelsea Physic Garden
Average Home Purchase Ranges: £2 million to over £15 million
Cost of Living: £3,000 - £3,500 per month

Located on the River Thames, Chelsea is one of the vibrant posh areas of London, long associated with style and elegance. You might have heard of Stamford Bridge, which is not only one of the best stadiums in the UK but also the home to much-revered Chelsea F.C.!

Property in Chelsea is highly sought after, with an average house price exceeding £2 million. Last year, the average price hit £2.5 million, up 19% since 2019. This richest area in London attracts international buyers who find Chelsea townhouses perfect for secondary or tertiary residences. Properties here are quickly snapped up due to the prestige and convenience of living close to these amenities.

Homes in Chelsea don't stay on the market for long. Research shows that more than half of the houses and nearly half of the flats sold this year were on the market for less than six months. This trend highlights the area's desirability and ease of selling property when needed, making it one of the most sought and most expensive areas in London.

4. Mayfair

Best Known for: Luxurious shops, excellent restaurants, exclusive hotels, unique art galleries, and traditional pubs
Tourist Attractions: Grosvenor Square, The Palm Beach Casino, Savile Row
Average Home Purchase Ranges: £4 million - £20 million
Cost of Living: £4,000 - £5,000 per month

Notting Hill stands out as one of the richest areas in London, highlighted as a prime market for growth in a post-pandemic world. Classified under 'Space Hunters,' it offers expansive living spaces that have become highly sought after. 

With 16 communal gardens providing a serene escape in the city, Notting Hill delivers a blend of urban and country living. These gardens, exclusive to certain properties, offer a private park-like setting that enhances the area's charm. The grandeur of homes on streets like Kensington Park Gardens, Lansdowne Crescent, and Ladbroke Road is notable. Many of these houses are exceptionally spacious, some even featuring lifts and large gardens that open onto coveted communal spaces.

Despite previous predictions of a market downturn, property values here have surged by an impressive 25% over the past 18 months. This trend underscores Notting Hill's position as one of the most expensive London areas, instilling confidence and a sense of security in your investment. 

5. Hampstead

Best Known for: Intellectual, liberal, artistic, musical, and literary associations
Tourist Attractions: Hampstead High Street, Burgh House, Holly Bush
Average Home Purchase Ranges: £2 million - £20 million
Cost of Living: £4,000 - £5,000 per month

Hampstead stands out as one of the most affluent areas of London, mainly due to its proximity to prestigious independent schools. These schools significantly increase property values due to high demand and premium school fees, making it the richest area in London.

Transport also plays a crucial role. Properties near London Underground stations often fetch higher prices, with homes within 500 meters commanding an extra £42,000. However, the Northern Line’s presence in Hampstead makes it a hotspot for transport-related premiums.

Another significant factor is the Waitrose effect. Research indicates that properties near Waitrose can see their value rise by up to 50%. Lastly, while views of water generally increase property values, Hampstead leverages its hilltop positions for stunning vistas of London rather than direct water views, contributing it to the list of rich London neighborhoods.

6. Belgravia

Best Known for: Elegant Georgian architecture, high-end boutiques, and exclusive restaurants
Tourist Attractions: Ian Fleming Blue Plaque, The Grenadier, Walk the Embassies
Average Home Purchase Ranges: £3 million - £30 million
Cost of Living: £4,000 - £5,000 per month

Belgravia, part of the Grosvenor Estate, is renowned for its prime location and opulence. Situated near Buckingham Palace, Sloane Street, Hyde Park, and Pimlico/Victoria, this richest area in London is incredibly central and offers unmatched convenience. A quick drive also connects them to the vibrant scenes of Mayfair and the West End.

Historically, Belgravia was perceived as a quiet residential area with unremarkable shops. However, a significant investment by the Grosvenor Estate has breathed new life into the area. Halkin Street now boasts a vibrant pedestrian zone with boutiques and dining options, while Elizabeth Street has transformed from a nondescript thoroughfare into a sought-after destination, sparking a wave of excitement about the area's potential.

Despite its heavy residential character, Belgravia offers a quiet retreat with its elegant squares, like Belgrave Square, providing a serene atmosphere compared to the bustling squares of Mayfair. Eaton Square and Chester Square are particularly notable, with Eaton Square featuring high-end apartments and Chester Square maintaining its charm with predominantly house properties.

7. Notting Hill

Best Known for: Most desirable and Instagrammable areas, with iconic pastel-coloured houses and a thriving market
Tourist Attractions: Holland Park, Graffik Gallery, Electric Cinema
Average Home Purchase Ranges: £2 million - £30 million
Cost of Living: £3,500 - £4,500 per month

Notting Hill stands out as one of the richest areas in London, highlighted as a prime market for growth in a post-pandemic world. Classified under 'Space Hunters,' it offers expansive living spaces that have become highly sought after. 

With 16 communal gardens providing a serene escape in the city, Notting Hill delivers a blend of urban and country living. These gardens, exclusive to certain properties, offer a private park-like setting that enhances the area's charm. The grandeur of homes on streets like Kensington Park Gardens, Lansdowne Crescent, and Ladbroke Road is notable. Many of these houses are exceptionally spacious, some even featuring lifts and large gardens that open onto coveted communal spaces.

Despite previous predictions of a market downturn, property values here have surged by an impressive 25% over the past 18 months. This trend underscores Notting Hill's position as one of the most expensive London areas, instilling confidence and a sense of security in your investment. 

8. St. John's Wood

Best Known for: Lord's Cricket Ground and Abbey Road Studios
Tourist Attractions: Hyde Park, Primrose Hill, St John's Wood Church Grounds
Average Home Purchase Ranges: £2 million - £15 million
Cost of Living: £3,000 - £4,500 per month

St. John's Wood remains one of the richest areas in London and affluent areas, known for its luxurious mansions and leafy streets. Despite its fame, the area often flies under the radar for many Londoners. This neighborhood is renowned for its celebrity residents like Oscar Asche and Lewis Waller, dignitaries, and long-standing wealth, frequently ranking among the priciest locales in the city.

Originally designed for the affluent, St. John's Wood has managed to preserve its high-status allure. Its history is rich, with stories of grand mansions that once housed the mistresses of London's elite. The neighborhood's proximity to the iconic Abbey Road and Abbey Road Studios makes it a magnet for those in the music industry, including American expats, in search of a luxurious lifestyle.

This richest area in London is distinctive for its detached homes, making it an attractive choice for families. The community's quiet and family-oriented nature means it lacks a bustling nightlife but offers a selection of elite boutiques and bars. Residents enjoy proximity to Lord's Cricket Ground and some of the best libraries in London nearby.

9. Primrose Hill

Best Known for: Pastel-coloured houses that line the park and the fantastic views from the top of the hill
Tourist Attractions: Blue Plaque Spotting, Buckingham Palace, British Museum
Average Home Purchase Ranges: £2 million - £10 million
Cost of Living: £4,000 - £4,500 per month

Primrose Hill, located in North West London, stands out as one of the richest areas in London. Bordered by Camden Town and Regent's Park, this richest area in London boasts not only stunning panoramic views from the hill but also a rich historical backdrop dating back to its role in the Royal Hunting Chase of Enfield.

The 19th century saw Primrose Hill transform into a favorite retreat for Londoners seeking green spaces and fresh air. Its bohemian charm, shaped by notable residents including artists and musicians, adds to its unique appeal. The area's strong rental market, with a diverse range of properties that command higher prices due to the area's desirability, makes it a worthwhile investment for those considering letting a property.

Primrose Hill is not just about its affluent status and stunning views. It's also a hub for top-notch education, with some of the best architecture schools in the world. Primrose Hill Primary School, Regent High School, University College London and the London School of Economics are some of the best universities, making it an ideal location for families and students.

This richest area in London is well-equipped with amenities like public transport, with Chalk Farm and Swiss Cottage stations nearby. The area is rich with independent shops, cafes, and essential healthcare facilities.

10. Richmond

Best Known for: Tranquil riverside location, historic houses, and one of London's biggest green spaces
Tourist Attractions: Richmond Park, Richmond Bridge, The Royal Botanic Gardens (Kew Gardens)
Average Home Purchase Ranges: £1 million - £6 million
Cost of Living: £3,500 - £4,000 per month

Over the past decade, Richmond has become one of the richest areas in London, with soaring property prices making it a top choice for both young professionals and families. The average house price in Richmond upon Thames now stands around £996,746, reflecting the area's growing appeal. For specifics, detached houses average £1,797,596, semi-detached homes £1,339,522, terraced houses £1,062,220, and flats £551,453.

Several factors drive this price surge, making Richmond one of the most expensive parts of London. The borough also benefits from superb transport connections, with Richmond Station linking to the London Underground, National Rail, and Overground, providing easy access to central London and beyond. This makes it a convenient location for those who work in the city but prefer a quieter, suburban lifestyle. Despite rising prices, Richmond continues to offer a diverse range of properties, from modern apartments to classic family homes.

11. City of Westminster

Best Known for: Being the political hub of the United Kingdom, housing the Houses of Parliament
Tourist Attractions: Houses of Parliament, National Gallery, Tate Britain
Average Home Purchase Ranges: £2 million - £10 million
Cost of Living: £1,700 to £3,000 per month

Westminster, one of the most posh areas in London, boasts the highest median price for newly built housing in all of England and Wales. Analysis by One Sure Insurance reveals that the median value of a new home in this central London borough reached a staggering £1,809,875 last year. Known for its high-rise flats and proximity to iconic landmarks, Westminster's property prices are significantly higher than those of other regions.

The study highlights the sharp contrast between Westminster and more affordable locations like Aberdare in South Wales. While Aberdare has the lowest property prices in Britain at just £969 per square meter, Westminster's property costs a hefty £9,379 per square meter. This stark difference underscores Westminster's status as the richest area in London, reflecting its prime location and high demand for luxury housing.

Other Richest Areas in London You Must Know About!

Some of the richest areas in London, apart from the affluent areas in London mentioned above, are in the table given below: