property, homes and houses for sale in Kensington

Walk past a leafy London square on a summer evening and the only sound could well be the tinkling of glasses. Parties as private as the gardens themselves are screened by greenery and hidden from prying eyes. While Sir David Frost famously holds an annual bash in Carlyle Square, Chelsea, not only the great and the good enjoy the exclusivity of these urban oases. Properties on the most sought after squares attract premiums of at least 10 per cent and for reasons that have little to do with entertaining. People want a quiet, trouble-free garden, a safe play area for children and a focus for their immediate community.

London has been described as a city of garden squares and nowhere is that more evident than in Kensington and Chelsea. They unify the architecture and street plans and give city dwellers a respite from concrete and stone. This is an area rich in green spaces, small and large. Taken as a whole, Kensington and Chelsea share the same qualities - high property prices not least among them. Nevertheless, there are also distinct differences, according to Ed Mead of Douglas & Gordon's Chelsea office. "Kensington generally has larger houses, many still frightfully grand, and is popular with families. Chelsea, on the other hand, is livelier and more cosmopolitan with many more flats. Buyers are very specific about which area they want and there is almost no cross-over."

Pinpointing any of the prime Kensington property addresses leaves one in no doubt as to their appeal. The Royal Albert Hall, the museums, colleges and schools, all within a stone's throw of Kensington Gardens and Hyde Park, act as magnets to foreign as well as UK purchasers. In South Kensington, where the Lycèe is the focus for French speakers, the greatest demand is for large apartments within walking distance of the school and with access to a private garden. Bars and restaurants of every flavour suggest continental Europe rather than England.

Whatever the nationality, everyone wants the same features from their apartment, whether rented or owned: it should be ideally on the first floor with high ceilings and with access to a garden that is secure. "Properties overlooking garden squares are certainly more saleable," says Deon Steyn of Cluttons' Chelsea office, "We sold a flat in Onslow Square where the rights of use to the square gardens were questionable and it nearly caused the deal to fall through. Once it was discovered that rights of use could be obtained, the deal went ahead. What people fail to realise is that by living on a garden square you do not automatically have the right to roam freely in the communal gardens, this will normally be arranged by separate negotiation and might cost around £200 to £350 per annum." And by no means are all gardens run to the same set of rules. Dog owners might struggle to find a welcome, while children are better catered for in some places than others. And it certainly isn't wise for a buyer to look at tennis courts and imagine popping over for a game every day. "They are run like any other tennis clubs", explains Deon Steyn. "You have to be approved as a member. And they are choosy".

But people in Kensington are not in general as choosy as they once were. The fashionable boundaries have been stretched to embrace islands such as Earls Court. The developers Northacre, involved in the successful Kings Chelsea scheme, as well as the Bromptons ( the lavish refurbishment of the old hospital), is party to the most recent rescue of a listed building within Kensington. Queen Elizabeth College in Campden Hill Road has become The Phillimores, a luxurious residential property development a few minutes from Kensington High Street. A grand entrance has been created from the refectory and residents will be able to greet their visitors in a setting of 16 Doric columns and full height French windows. Buyers will pay a premium for a property of real quality, particularly large first floor flats. The charm of Chelsea property, and what gives it its distinctive feel, is the mix - pretty cottages, narrow flat-fronted houses, grand buildings on the river and converted studios in secret hideaways. Its bohemian past, and trendy King's Road that never seems to rest, set it apart from its more sober partner in the Royal Borough. Given its history, there are surprisingly few Georgian houses, but those set back from the King's Road, opposite the unprepossessing fire station, are the heart of historic Chelsea. Dame Ellen Terry, the actress, lived there at one time and built herself a theatre in its garden.

It is in this prime area of London that the first signs of any property market trends appear. Ever susceptible to the international as well as national mood, there has been a detectable cautiousness among purchasers in the last few weeks. A shortage of the most exclusive properties is not mirrored further down the scale and many more flats are coming up for sale. But if a cooler property market means prices falling by a few per cent, it could be a golden opportunity for some. Instead of looking longingly through the railings of a garden square, they could end up with a key to the gate.