At Stones Residential, we know Belsize Park ranks highly amongst the leading areas in the capital. However, we like to see it perform well when other people rank or rate the various parts of London.
Belsize Park is amongst the elite areas of London
The list of most expensive London postcodes to live was compiled for The National. The study was based on the number of properties which were sold for at least £5m between January 2017 and April 2021.
The top ten list is as follows:
1. SW1 (Knightsbridge, Belgravia, St James’s, Westminster, Victoria, Pimlico, Sloane Square and part of Chelsea)
2. W1 (Mayfair, Marylebone, Fitzrovia, Soho)
3. SW3 (Chelsea, Knightsbridge)
4. W8 (Kensington, Holland Park)
5. W11 (Notting Hill, Ladbroke Grove (south) and part of Holland Park)
6. SW7 (South Kensington, part of Knightsbridge)
7. NW8 (St John’s Wood, Primrose Hill (south), Marylebone (north))
8. NW3 (Hampstead, Belsize Park, Primrose Hill (north)
9. SW10 (West Brompton, part of Chelsea)
10. W2 (Paddington, Bayswater, Hyde Park, part of Little Venice, part of Notting Hill)
The list contains many fantastic areas of London but understandably, at Stones Residential, we are focused on the number eight listing, which contains the NW3 postcode. Yes, this is where Belsize Park is located, placing it firmly in the top ten of expensive locations in London.
London property prices are relative
As of the end of June 2021, Rightmove says the following about house prices in Belsize Park;
“Properties in Belsize Park had an overall average price of £1,156,279 over the last year.
The majority of sales in Belsize Park during the last year were flats, selling for an average price of £877,186. Terraced properties sold for an average of £2,316,526, with detached properties fetching £3,602,500.
Overall, sold prices in Belsize Park over the last year were 3% down on the previous year and 6% down on the 2017 peak of £1,232,989.”
For the same time frame, Rightmove says the following about house prices in Belgravia;
“Properties in Belgravia had an overall average price of £3,194,939 over the last year.
The majority of sales in Belgravia during the last year were flats, selling for an average price of £2,443,470. Terraced properties sold for an average of £5,176,085.
Overall, sold prices in Belgravia over the last year were 21% down on the previous year and 14% down on the 2014 peak of £3,717,305.”
Therefore, while the property prices in Belsize Park are high compared to the UK average, and even the London average, they are much smaller than some of the average prices on offer in the capital.
This is why it is vital to focus on affordability for an individual or household. If the property in Belsize Park is within your budget, you can enjoy tremendous value for money in looking for homes here.
If you want to live in one of the finest areas of the capital, this is an excellent location, and we will be more than happy to talk you through why you should consider living here.
If you would like to arrange an appointment to help you negotiate the local housing market, please contact Stones Residential today by calling us on 020 7483 0685 or emailing belsizepark@stonesresidential.co.uk.
