Purchasing High Net Worth Property
Kensington is without question one of London’s most desirable areas to live in, and is indeed home to some of the UK’s Royal Family.
With over 300,000 Parisians reported to call it home, Kensington – and specifically South Kensington – has a European atmosphere, and its stucco fronted properties, garden squares and treelines streets wouldn’t look out of place in Paris.
As well as French residents, Kensington is also popular with Spanish buyers, and the restaurants and boutiques on offer really reflect the diverse culture of the area.
Kensington is also home to some of London’s world-famous museums, including the V&A Museum, the Natural History Museum, and the Science Museum. The cultural opportunity continues with the Royal Albert Hall, where renowned concerts and shows are hosted.
High Street Kensington underground station is served by the District and Circle lines as is Gloucester Road, which also benefits from the Piccadilly line, and Notting Hill Gate has the Central line as well as District and Circle routes.
Kensington also has an Overground station at Kensington Olympia which reaches as far as zone 9.
Property in Kensington
Kensington has a diverse property style, from large mansions and town houses, to contemporary apartments.
Some of Kensington’s properties date as far back as the 1700s, and the area is indeed well known for its Edwardian architecture. Many of the large properties have been converted into large lateral apartments, a style which is very popular at the moment, and many are set on exclusive garden squares.
New build apartment blocks like 375 Kensington High Street offer owner and investor buyers a more modern option, with all the luxuries that come with them, including health and wellness facilities and concierge and security.
For investors, the proximity to Imperial College makes it ideal for students looking for a place to rent and rentals achieved range from £950 all the way up to £86,000 per month.
For buyers, one-bedroom properties fetch an average of £750,000, and a six-bedroom house will attract an average price tag of £5.5million. The overall average for the area is £1,274,645 for a flat and £2,903,824 for a house.
Securing a mortgage in Kensington
Properties in Kensington are typically upward of £1million, which can be more complicated to secure a mortgage for. Unless you have a very large deposit, arranging a £1million+ mortgage at a high loan to value (LTV) can be very difficult—so a good broker with excellent contacts across London can help.
A broker like Enness has ample experience securing such mortgages, and has the knowledge of the London property market to ensure the best solution.
Is it still a good idea to invest in London property?
There have been conflicting reports over the last year about the state of the London property market—but price stagnation means now is a good time for buyers to drive a hard bargain. For more information about why now is a good time to invest in luxury London real estate, click here.
Whatever your personal profile is—be that a foreign national from the Middle East, an expat, a self-employed worker or an employee with large bonus income—we have the contacts to find you the perfect mortgage and complete the purchase of your property in Kensington.