Prime Resi: Chelsea becomes most popular London address
- By Adam Foster
- 28 July 2014
Top local agency Russell Simpson has been rooting around in the Lonres data vaults and reported a whopping 478 sales in Chelsea over the last 12 months (as of April 2014), of which 57 were over £5m.
Compare that to 340 (44 over £5m) in Kensington, 259 in St John’s Wood (20), 145 in Knightsbridge (45), 140 (29) in Belgravia and 105 (19) in Mayfair.
To help buyers make some sense of the sprawling district, the firm explains how the 2,965 acres of Chelsea are broken down into six distinct micro-markets:
- Old Chelsea
- Burton Court
- Chelsea Green
- Chelsea Town
- The Boltons
- West Chelsea
If you have the cash to splash, The Boltons is named as the most expensive, with house prices averaging between £5m and £80m and flats between £1m and £10m.
If you’re looking for value, West Chelsea, by Earl’s Court, is the “most underpriced” micro-market, according to the team; houses go for anything between £2m and £10m and you can pick up a flat for between £500k and £4m.
Chelsea Town is the most popular with overseas buyers (including Saudi Arabians, Africans, Russians and Chinese), whilst Chelsea Green – with its cacophony of local shops and restaurants – is deemed the most popular choice for “Chelsea locals”.
Old Chelsea: “The historic ambience and riverside location is popular with high net-worth internationals, attracting residents such as Roman Abramovich, Amanda Eliyash and Mick Jagger. Old Chelsea’s best addresses include Old Church Street, Justice Walk and Lawrence Street, across the area.”
Burton Court: “Burton Court is an intellectual hub perfect for those that enjoy spending their time in art galleries, museums and café houses. Some of the most popular properties in Burton Court are large lateral flats, popular with families, and investors.”
Chelsea Green: “Home to some of the countries top language schools, young continentals choose to reside in Chelsea Green, who also enjoy the village ambience of the area, which is also popular with the ‘Chelsea local set’ who have lived in Chelsea for the majority of their lives and enjoy the local independent outlets of the area.”
Chelsea Town: “Chelsea Town is focused around the north side of the King’s Road, stretching along most of its entirety. The array of high-end boutiques, art galleries and Michelin starred restaurants based along the King’s Road attracts wealthy internationals who enjoy having luxury on their doorstep.”
The Boltons: One of the best places to live in Chelsea, providing large private garden spaces, terraced gardens and garden squares, properties in The Boltons are perfect for families, with strong transport links to the West of England (A4, M4) for weekend breaks, as well as easy connections into Central London.
West Chelsea: Popular with young affluent Chelsea residents, West Chelsea is the home of ‘The Chelsea Beach’ a stretch of bars and restaurants along Fulham Road. West Chelsea is also within close proximity to Earl’s Court, providing strong transport links into the city, also attracting visitors into the area, taking advantage of the array of cafes, galleries and boutiques shops in the area.