CBRE Borough Guide: Kensington & Chelsea
Kensington and Chelsea, is an affluent borough, well known as London’s traditional prime location. It has the highest level of earnings and the highest house prices. Many of the new developments within the borough are high-end luxury developments, the average price in the borough is £1,500,000; prices in some developments have asking prices as high as £30,000,000. However, there are certain pockets in the borough which have been overlooked and the council is now focussing investment on regenerating these areas.
This investment includes the strategic site at Kensal Gasworks which could provide up to 5,000 homes. Several estates in the borough are undergoing regeneration, including the Silchester Estate, which is being completed in conjunction with the Housing Association Peabody. Catalyst Housing is also delivering 1,000 homes as part of its Portobello Square project at the Wornington Green Estate in the north of the borough. Other future developments for Kensington and Chelsea may include Crossrail 2 and the council is largely supportive of proposals for a station at the King’s Road in Chelsea.
Good to know:
- The borough has the highest life expectancy for both men and women in London – 83.1 years and 87.2 years respectively.
- The borough is home to around 4,000 listed buildings, including the Natural History Museum, and the V&A museum.
- It has the second lowest level of new builds currently under construction.
- Kensington and Chelsea had the highest rate of house price growth last year