Published: 07/07/2016South Kensington, situated in the Royal Borough of Kensington and Chelsea, is one of the world’s greatest concentrations of internationally renowned cultural destinations. With monumentally grand houses and architecturally stunning Victorian buildings, South Kensington’s wide range of architecture contributes to its perennial popularity. After the Great Exhibition of 1851, huge stucco-fronted Victorian mansions were built throughout the area, providing homes to many wealthy Londoners. Most of them have now been converted into flats. Besides the Victoria style buildings, you will also find handsome purpose built red-brick mansion blocks. The area is rich with green spaces, with Kensington Palace perhaps one of the most famous attractions, leading to the southern edges of Kensington Gardens and Hyde Park. In Hyde Park you will also find the world famous Serpentine Lake and Gallery, and it is also well known for its annual events, from summer concerts to the yearly Winter Wonderland. Other than the Royal Parks, South Kensington also offers plenty of beautiful garden squares.
South Kensington offers the best in sophisticated shopping, restaurants and night clubs, well tended gardens, museums and transport. There are many designer shops, large and small, along Sloane Avenue and the Fulham Road which rival some of the very best retail stores on the nearby Kings Road in Chelsea. The area boasts a sophisticated ambience with a remarkable selection of places to eat, drink and socialise. In South Kensington, you will find that the vibrant area offers a variety of eateries to fit everyone’s taste, from cafes and pubs to delicatessens and ice cream parlours. South Kensington has an abundance of cultural attractions, including some of the world’s most prestigious museums to enjoy; these include The Victoria & Albert, The Science Museum and the Natural History Museum. Along Exhibition Road, you will also find The Royal Albert Hall, all within walking distance of each other. South Kensington is in Zone 1 on London transport and has excellent public transport links, which makes it an easy and affordable means of travelling around the area.
Current achieved rental prices in South Kensington per square foot fell by 7.7% over the last 12 months compared to the previous year. 12% fewer properties were sold in the last 12 months in comparison to the previous 12 months. Besides this slight drop, average prices in South Kensington are now 43% higher than they were 5 years ago. The number of sale properties on the market has risen by 15% compared to last year, with 36% of the properties having been on the market for more than six months. Rental values in the area have fallen by 10% compared to the same period last year averaging £1757 per week for houses and £1048 per week for flats, with 38% of properties reflecting asking prices of more than £1000 per week.