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About South Kensington

Kensington: not just for multi-millionaires!

Any estate agent in Kensington knows that it is not only city slickers, Russian oligarchs and French families who define modern Kensington, but that this area of south-west London has long attracted buyers of all types. With its proximity to central London (and easy escape to the country), museums, top schools, 23 parks including Kensington Gardens and Hyde Park, designer shopping and enough restaurants and nightclubs for any party animal, Kensington has something to offer everyone.

Kensington estate agents caution prospective buyers that property in the W8 postcode is not necessarily what it may seem. Many of the big stucco-fronted family houses have been converted into luxury apartments that fetch upwards of £800,000 and, despite its reputation as an expensive area to buy or rent property (over half of London’s most expensive streets are in the Borough of Kensington and Chelsea) you can pick up a studio flat for £350,000.

Douglas & Gordon’s estate agency in Kensington covers parts of SW5, SW7 and W8, and despite the lack of large family houses in the area, has no trouble meeting the needs of families looking for spacious accommodation. Many buyers are from Europe where there is a culture of living in apartments. Douglas & Gordon’s sales manager and head estate agent in Kensington, Caroline Anderson explains that her clients are from all demographics and include singles, couples, and families.

“It’s a myth that you have to be a multi-millionaire to live here,” says Caroline. “We have everything, from studio flats for £350,000 to stunning three-bedroom flats in Courtfield Gardens for £2.95m, with the average price between £800,000 and £1 million. Occasionally a mews house will come onto the market, but it is snapped up immediately.”

Caroline also explains that in 2007 real estate prices rose at a mindboggling rate, owing largely to huge City bonuses! There was also a huge lack of new property entering the market. The increase in interest had less of an impact in Kensington than other parts of London because people tend to buy homes in the area as a long-term investment.

Historically, this sophisticated and cosmopolitan area has been popular with foreign nationals and this is still the case. “Lots of Russians buy houses and apartments, as well as French families with children at the Lycee – the good schools in Kensington bring in lots of families.”

The lettings market in Kensington

Not surprisingly, given its largely international population, it is a thriving rental market that provides an embarrassment of riches for any letting agent in Kensington. Kensington lettings manager and one of Douglas & Gordon’s leading letting agents, Clara Cockerton says, “Lettings remain busy as more property becomes available to rent, and this is because of the number of people who wish to market their properties under the both sales and lettings banner and then picking the best offer.” In the increasingly competitive rental market, letting agents in the W8 region recommend that landlords present their properties in the best possible way. “Good properties let fast and at good prices, those in need of refurbishment will sit on the market," says Clara.

The range of properties available at our letting agent in Kensington includes a wide variety of large and small accommodation options. In general, rental prices range from £400 per week for a one bedroom flat up to £5000 per week for good sized houses. There are cheaper areas to live in, so why do people want to rent accommodation in Kensington? Clara says, "They like the fact that it’s quiet and residential, with good restaurants and quiet garden squares. Most of our tenants work in the city and so they appreciate the excellent transport links from Gloucester Road Tube station."

Ask a Douglas & Gordon letting agent in Kensington for expert advice on W8 property rentals, or contact an estate agent in Kensington to find out more about living in the area on a permanent basis.

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