The boundaries of prime central London are expanding, new research claims.
The PCL market is generally described as the exclusive districts of Mayfair, Knightsbridge, Marylebone and Kensington and Chelsea but new data from estate agents Finlay Brewer has revealed a shift west in buying habits.
In the past 12 months, 34% of house sales in the prime West London villages of Brook Green, Brackenbury and Askew have been to buyers moving from the Kensington & Chelsea as they search for substantial, big-boned family homes with large gardens, as well as access to some of the best private schools in the UK.
Typically, the attractiveness of Kensington and other PCL districts has been rooted in the quality of the homes in the area, privacy and security, as well as proximity to good schools.
However, Brook Green, Brackenbury and Askew Village boast the best ratio of top-rated independent schools in London, whilst also benefitting from excellent housing stock, as well as a village community, with boutique shops, cafes and eateries, Finlay Brewer said.
The average price of the houses sold to Kensington buyers is £2.5m, according to the research, with the majority ranging between three to five bedrooms and benefitting from access to spacious private gardens.
This now comes at a premium in Kensington where three-to-five-bedroom terraced homes average 4m.
Commenting on the trend, Paul Cosgrove, director of Finlay Brewer, said: “Brook Green has long been one of central London’s best kept secrets.
“In our charming pocket of west London, we have a collection of prime neighbourhoods with large Victorian houses that are perfect for families. We also have access to some of the UK’s best private schools, including the hugely successful St Paul’s Girls’ School, which has again been rated as the number one private school in the UK.
“With key PCL areas seeing record prices in recent years we are starting to see people moving to Brook Green, as they look to get more for their money without compromising on quality of living or access to top-rated schools.
“We feel it’s safe to say that as buying habits shift, the borders of PCL have expanded from the edge of Holland Park to the prime villages of Brook Green, Brackenbury and Askew.”