10 Recession Proof Boroughs Of London

According to the estate agency Knight Frank. Richmond upon Thames tops the list of the 10 most recession-proof boroughs in London, followed closely byKingston upon Thames. The research takes into account factors such as the affordability of housing, wage and unemployment levels, population growth and the qualifications of the locals.

Eight of the 10 of the boroughs are south of the River Thames and average prices are highest in Kensington and Chelsea, at £774,361. They are a far more affordable £282,045 in ninth-placed Greenwich, and £232,242 in Bexley, ranked 10th.

Liam Bailey, Head of Research for Knight Frank, advises that across the capital, there are plenty of emerging areas set to benefit from infrastructure projects or redevelopment.In north London, 67 acres to the north of King’s Cross and St Pancras are benefiting from an extensive regeneration programme, while development of the Lots Road power station will improve the fortunes of a hitherto less than glitzy part of Chelsea.Over the river, the South Bank area has been transformed by a stream of residential and mixed-use developments. Elsewhere, Hammersmith, West Hampstead, Twickenham and Kew are among areas undergoing continuous gentrification and improvement.