Top 10 Most Expensive London Areas Revealed

Chelsea tops the list but new entrants are likely in years to come, as the capital's prime property market continues to swell.

Strong domestic demand has made Chelsea London's most expensive area, exclusive research for The National conducted by Savills Research has found.

Last year The National exclusively revealed London's 10 most expensive postcodes, but this year marks a first for Savills, with a change of metric to areas.

London Director at Savills London Private Office, Alex Christian commented; "Postcodes somewhat blurred the lines as SW7 can be construed as both Knightsbridge and South Kensington.

What hasn't changed is how the list is compiled, with both the most expensive areas and postcodes based on the number of £5m-plus property transactions.

Figures for this year's list are from January 2020 and June 2022, with an addition being a breakdown of the transactions proportionally.

In total, the top 10 comprises 71.2% of the total number of £5m-plus property transactions that took place across London during this period.

10 most expensive areas in London*

1. Chelsea (140/12%)
2. Kensington (131/11%)
3. Belgravia (120/10%)
4. St John's Wood (85/7.2%)
5. Mayfair (82/6.9%)
6. Knightsbridge (76/6.4%)
7. Marylebone (64/5.4%)
8. Notting Hill (60/5.1%)
9. Hampstead (50/4.2%)
10. South Kensington (10/3.0%)

*(number of transactions/percentage of transactions) www.thenationalnews.com