Historically a village which transformed into an artistic enclave in central London; Chelsea is largely defined by the Kings Road running from Sloane Square to Lots Road in the west and Fulham Road to the north of it with the River Thames the southern boundary. The Kings Road is famous for being the centre of the swinging 1960s and now offers a selection of fashionable shops and coffee bars. The recent Duke of York redevelopment has given the eastern end of the Kings Road a more European Piazza feel.
Type of property
The majority of the Chelsea area is made up of terraced houses built in the Georgian and Victorian ages; many of these overlook pretty gardens square such as Wellington Square and Markham Square. The area has a number of smaller, quieter streets, many of these with attractive different coloured houses such as Burnsall Street and Bywater Street. There are still a number of red brick mansion buildings, period conversions and a handful of modern developments catering for those that prefer apartment living.
Rental property continues to perform well in the SW3 and SW10 areas and the area is weathering the economic storm. We anticipate that the demand for rental properties in Chelsea will be remain high in the foreseeable future .
The dearth of stock for properties to buy in Chelsea continues to drive sales prices upwards in Chelsea much like the surrounding areas in prime central London.
Type of Tenants renting in Chelsea
The Chelsea area attracts mainly families due to the excellent independent schools and substantial houses. The demand for rental properties such as these is driven by American and European families as well as local residents. The typical profile is someone who is working within the financial, legal or media sectors of the city who wants to enjoy this popular area of London.
Type of Landlords in Chelsea
Foreign investment purchasers are still looking for rental investment, viewing London as a safe haven from the current political and economic turmoil of the world. Over the last two years rents have risen between 8% and 10%. The overall demand for rented property is still very high in Chelsea and it will, in our opinion, remain a favourable market for landlords who wish to buy.
Types of buyers and sellers in Chelsea
Chelsea attracts more families than its neighbouring areas and this is due in part to the types of property on offer: more family houses than flats. Another reason is the excellent choice of independent schools found in the area. Houses are generally held for a generation, as a family grows. Buyers are still a cosmopolitan bunch but there tend to be more from Europe and the US than the Far and Middle East that Knightsbridge and Belgravia attract.
Council Tax Rates for Royal Borough of Kensington and Chelsea
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* Excludes garden square levies
For property sales and letting in Chelsea, get in touch with Estate Agent Marler and Marler today.