Strong domestic demand has made Chelsea London's most expensive area, exclusive research for The National conducted by Savills Research has found.
Last year The National exclusively revealed London's 10 most expensive postcodes, but this year marks a first for Savills, with a change of metric to areas.
"Postcodes somewhat blurred the lines as SW7 can be construed as both Knightsbridge and South Kensington," said Alex Christian, London director at Savills London Private Office.
What hasn't changed is how the list is compiled, with both the most expensive areas and postcodes based on the number of £5m-plus property transactions.
Figures for this year's list are from January 2020 and June 2022, with an addition being a breakdown of the transactions proportionally.
In total, the top 10 comprises 71.2 per cent of the total number of £5m-plus property transactions that took place across London during this period.
10 most expensive areas in London*
1. Chelsea (140/12%)
2. Kensington (131/11%)
3. Belgravia (120/10%)
4. St John's Wood (85/7.2%)
5. Mayfair (82/6.9%)
6. Knightsbridge (76/6.4%)
7. Marylebone (64/5.4%)
8. Notting Hill (60/5.1%)
9. Hampstead (50/4.2%)
10. South Kensington (10/3.0%)
*(number of transactions/percentage of transactions)
Domestic buyers dominating London prime
Although the data isn't broken down into domestic and international buyers, given it spans much of the coronavirus pandemic, when UK travel rules and high numbers of infections deterred interest from abroad, Mr Christian is confident the top 10 has a distinctly home-grown flavour.
"There have been very few transactions done internationally this year until late spring, probably from May onwards when we have actually seen numbers swell quite a lot," he said.
"We just didn't really see it in the early part of the year. [International transactions] were fairly prevalent at the back end of last year when travel restrictions were eased but faded when Omicron was identified in England.
Why Chelsea is London's most expensive area
Somewhat paradoxically, Chelsea's pre-eminence is largely down to the desirability of neighbouring Notting Hill.
"I think one of the reasons Chelsea's at the top of this is that it's probably absorbed quite a lot of the demand that was trying to buy Notting Hill but couldn't find the right thing at the right price," said Mr Christian.
The trend shows the microclimatic nature of prime London property: Notting Hill and Chelsea are contiguous, yet their property characteristics are markedly different.
"I think a lot of people have actually been priced out in Notting Hill," said Mr Christian,
"For some modernised houses in the area, prices have hit an unheard of £4000 pounds per square foot ― that's more than you're paying in Mayfair, Knightsbridge and Belgravia for modernised houses.
Mr Christian believes the mix of "exorbitant premiums" and limited stock in Notting Hill pushed them towards Chelsea where prices are (relatively) cheaper and stock more abundant.
Top 5 most expensive properties in Chelsea — in pictures
The allure of Notting Hill
Notwithstanding stock and price issues, Mr Christian is still a touch surprised about the 2022 data.
"If you were asking me without showing me these figures where the deals would have been done, I would have named Notting Hill and Holland Park," he said.
He listed its architecture, amenities and proximity to leafy areas as being part of the attraction — as well as the tribal nature of buyers there.
"A lot of the domestic money has been made in private equity, and that's where [many financiers] live — and they all like to be among each other and show off about how good the house they've been able to buy is," he said. "It's a bit of a chest thumping exercise!"
London prime continues to expand
The London prime market isn't just heterogenous, it is also extremely fluid — and rapidly expanding.
Battersea, Wimbledon, Barnes, Clapham and Wandsworth are the areas in south-west London that had the largest number of £5m-plus sales during the monitored period, Savills data showed.
The numbers weren't high enough for these areas to make it into the top 10 of London's most expensive areas, but Mr Christian thinks it may not be long until they do.
"The majority of the domestic market for quite a long time has wanted to live in a community and I think this has been exacerbated by Covid," he said.
"So much is about living where you feel comfortable in terms of having similar sorts of people with families living around you and all the things that families want in terms of more of a community feel, more greenery, and more local shops and restaurants."
MORE ON LONDON LUXURY PROPERTY
Return of international buyers to London's prime's holy trinity
This isn't to say the London prime's traditional heartlands of Mayfair, Belgravia and Knightsbridge are set to fall further down the list in years to come. Mr Christian is expecting a significant return to the areas by international buyers.
"We'll probably certainly see a considerable slowdown in the domestic market. I think we're seeing that in at the moment," he said.
"And I think their shoes will be filled by international buyers who are looking to take advantage of a weak pound [to exploit the fact] UK property is seen as being a safe haven and a very good hedge against inflation."
If this prediction proves correct, it is likely next year's data will see a bounce in demand across Mayfair, Belgravia and Knightsbridge, the three perennial favourites of foreign investors.
Even in the 2022, the desirability of flats in Mayfair is apparent.
"There's been a lot of deals done in Mayfair in the new schemes like Number 1 Grosvenor Square," said Mr Christian.
"I think that's why Mayfair is up there. I think if you took these deals out, it would be right down the bottom somewhere."
The rules of the road keeping cyclists safe
Cyclists must wear a helmet, arm and knee pads
Have a white front-light and a back red-light on their bike
They must place a number plate with reflective light to the back of the bike to alert road-users
Avoid carrying weights that could cause the bike to lose balance
They must cycle on designated lanes and areas and ride safe on pavements to avoid bumping into pedestrians
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Zayed Sustainability Prize
Killing of Qassem Suleimani
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
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Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Mohammed bin Zayed Majlis
KILLING OF QASSEM SULEIMANI
The%20specs
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Killing of Qassem Suleimani
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
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10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
Killing of Qassem Suleimani
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How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
More on Quran memorisation:
Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%3Cbr%3E%3C%2Fp%3E%0A
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The years Ramadan fell in May
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Essentials
The flights
Emirates and Etihad fly direct from the UAE to Los Angeles, from Dh4,975 return, including taxes. The flight time is 16 hours. Alaska Airlines, United Airlines, Delta Air Lines, Aeromexico and Southwest all fly direct from Los Angeles to San Jose del Cabo from Dh1,243 return, including taxes. The flight time is two-and-a-half hours.
The trip
Lindblad Expeditions National Geographic’s eight-day Whales Wilderness itinerary costs from US$6,190 (Dh22,736) per person, twin share, including meals, accommodation and excursions, with departures in March and April 2018.
Palestine and Israel - live updates
MATCH INFO
FA Cup final
Chelsea 1
Hazard (22' pen)
Manchester United 0
Man of the match: Eden Hazard (Chelsea)
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Results
2pm: Al Sahel Contracting Company – Maiden (PA) Dh50,000 (Dirt) 1,200m; Winner: AF Mutakafel, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
2.30pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,200m; Winner: El Baareq, Antonio Fresu, Rashed Bouresly
3pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson
3.30pm: Keeneland – Handicap (TB) Dh84,000 (D) 1,000m; Winner: Alkaraama, Dane O’Neill, Musabah Al Muhairi
4pm: Keeneland – Handicap (TB) Dh76,000 (D) 1,800m; Winner: Lady Snazz, Saif Al Balushi, Bhupat Seemar
4.30pm: Hive – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer
5pm: Dubai Real Estate Centre – (TB) Handicap Dh64,000 (D) 1,600m; Winner: Lahmoom, Royston Ffrench, Salem bin Ghadayer
Past winners of the Abu Dhabi Grand Prix
2016 Lewis Hamilton (Mercedes-GP)
2015 Nico Rosberg (Mercedes-GP)
2014 Lewis Hamilton (Mercedes-GP)
2013 Sebastian Vettel (Red Bull Racing)
2012 Kimi Raikkonen (Lotus)
2011 Lewis Hamilton (McLaren)
2010 Sebastian Vettel (Red Bull Racing)
2009 Sebastian Vettel (Red Bull Racing)
Why are you, you?
Why are you, you?
From this question, a new beginning.
From this question, a new destiny.
For you are a world, and a meeting of worlds.
Our dream is to unite that which has been
separated by history.
To return the many to the one.
A great story unites us all,
beyond colour and creed and gender.
The lightning flash of art
And the music of the heart.
We reflect all cultures, all ways.
We are a twenty first century wonder.
Universal ideals, visions of art and truth.
Now is the turning point of cultures and hopes.
Come with questions, leave with visions.
We are the link between the past and the future.
Here, through art, new possibilities are born. And
new answers are given wings.
Why are you, you?
Because we are mirrors of each other.
Because together we create new worlds.
Together we are more powerful than we know.
We connect, we inspire, we multiply illuminations
with the unique light of art.
Ben Okri,
Killing of Qassem Suleimani
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20S24%20ULTRA
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UAE currency: the story behind the money in your pockets
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
KILLING OF QASSEM SULEIMANI
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
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'Ashkal'
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Heavily-sugared soft drinks slip through the tax net
Some popular drinks with high levels of sugar and caffeine have slipped through the fizz drink tax loophole, as they are not carbonated or classed as an energy drink.
Arizona Iced Tea with lemon is one of those beverages, with one 240 millilitre serving offering up 23 grams of sugar - about six teaspoons.
A 680ml can of Arizona Iced Tea costs just Dh6.
Most sports drinks sold in supermarkets were found to contain, on average, five teaspoons of sugar in a 500ml bottle.
Hunger and Fury: The Crisis of Democracy in the Balkans
Jasmin Mujanović, Hurst Publishers
Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
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Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
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Political flags or banners
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Bikes, skateboards or scooters
More on animal trafficking
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
Mohammed bin Zayed Majlis
