Kensington sees earnings top £100k, says National Homebuyers.

PRLog (Press Release) – Aug 24, 2007 – Figures from Barclays show that the average income in the London borough has increased by seven per cent since last year to £101,600.

The bank's latest wealth survey also revealed that the closest challenger to Kensington and Chelsea was the City of London and Westminster at £81,425.

Hampstead and Highgate was third with an average income of £77,500.

"Kensington has always been a Mecca for the wealthy in London, but this is a first even for that wealthy borough," said Bret Packard, managing director of Barclays Premier Banking.

"No doubt the influx of high earners not just from the UK but from overseas has had a positive impact on average incomes."

These record high salaries are helping the capital to maintain rising house prices while other parts of the country experience a slowdown.

Demand for property in London and the buying power of top earners has helped the city buck the trend brought on by rising interest rates.