
Outside the M25, posh neighbourhoods tend to be marked out by quiet, leafy streets, low crime rates and high Waitrose-to-Lidl ratio.
It’s harder to tell in London though, as the population is more densely packed together, and the mega-rich often live just a stone’s throw away from us regular folks.
But there is one way to get a feel for how wealthy each area of the capital is: ‘prime’ properties with asking prices of £2 million or more
Across London’s 112,602 property listings, 6,822 (or 6.1%) fall into this prestigious category, and a few spots boast an especially large proportion.
In a new study from Jefferies James, Kensington and Chelsea came out as the wealthiest borough, with 32.3% of its sales stock deemed prime.
Although this isn’t a complete surprise, it illustrates the scale of the class divide in the home of both Kensington Palace and Grenfell Tower.
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Next on the list was Westminster (30.9% of listings priced at £2 million or more), followed by Camden (15.5%), City of London (13.2%) and Hammersmith and Fulham (10.8%).
After this, only Richmond-upon-Thames, Barnet, Islington and Wandsworth sat above London’s average proportion of prime homes, while the seemingly-swish borough of Kingston-upon-Thames was overshadowed.
There wasn’t much of a theme in terms of location either, as evidenced by the fact a number of commuter hubs – including Bromley and Harrow – outperformed central areas such as Tower Hamlets in the poshness stakes.
London boroughs ranked by poshness
- Kensington and Chelsea: 32.3% of total property listings priced over £2 million
- Westminster: 30.9%
- Camden: 15.5%
- City of London: 13.2%
- Hammersmith and Fulham: 10.8%
- Richmond upon Thames: 7.9%
- Barnet: 7.6%
- Islington: 7.3%
- Wandsworth: 6.5%
- Merton: 5.7%
- Lambeth: 4.7%
- Hackney: 4%
- Southwark: 3.7%
- Haringey: 3.3%
- Kingston upon Thames: 3.3%
- Ealing: 2.7%
- Brent: 2.5%
- Hounslow: 2.5%
- Bromley: 1.9%
- Harrow: 1.3%
- Greenwich: 1.1%
- Enfield: 1%
- Tower Hamlets: 0.9%
- Havering: 0.8%%
- Redbridge: 0.7%
- Hillingdon: 0.7%
- Croydon: 0.5%
- Sutton: 0.5%
- Lewisham: 0.3%
- Waltham Forest: 0.2%
- Newham: 0.2%
- Bexley: 0.1%
- Barking and Dagenham: 0%
Via Jefferies James using Rightmove data.
Less than 1% of sale stock in each of the 10 least-posh boroughs was prime,but not a single £2 million property was recorded in Barking and Dagenham out of a total of 1,333, placing it last on the ranking.
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Featuring a number of new developments like Barking Riverside and Beam Park, the average home price is £286,290, making it a popular choice for average Londoners to get on the property ladder.
Commenting on the wider figures, founder of Jefferies James, Damien Jefferies, says: ‘Of course, the level of prime London for sale stock does differ from one neighbourhood to the next and in some areas supply remains restricted when compared to last year.
‘However, when it comes to the most prestigious pockets of the prime London market, it’s the traditionally popular heartlands of Mayfair, Knightsbridge and Belgravia where prime property stock is most abundant, accounting for the vast majority of all homes listed for sale.’
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