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What makes living in certain parts of London more expensive than others?

I am hoping to establish my career and live and work in London. I don't think living in certain parts of London is any more expensive than living in other parts of the UK. Someone told me that if you live close to a tube station that's on a line leading towards the financial centre of London, you will pay more than you would in other areas. What is it that influences the cost of living in different parts of London?

Public Comments

1. excellent schools Train links Tube links trendy bars and restaurants expensive and well kept properties of course I listed only a few reasons why some areas are more expensive than others.
2. The cost of living in any area [district] of London depends upon lots of different factors. An area not far from where I live called Catford, had medium to low priced houses for many years. Then suddenly the Docklands Light Railway extended to Lewisham and almost overnight there was a houseprice feeding frenzie in both Catford and Lewisham, as Wharfers [people who work at Canary Whart] clambered over each other in their mad rush to buy a property within easy reach of their place of work at Canary Wharf via the DLR. Exactly the same thing will happen in Woolwich any day soon when the DLR extends to there with easy access to the London Olympic site for the 2012 London Olympic Games. Someone has already pointed out the significance of quality schools. There is a famous private [English Public School] a couple of doors down from where I live - in fact in my street. It keeps house prices high in my area and in the immediate surrounding area too. My house is a detached 1930s typical suburban house, with a present day price tag of about £480,000 - £500,000. Exactly the same house in Richmond [Surry] has a price tag of from £800,000 on up and there is little sign of this ever changing. Expensive areas of London to live in, include such as these; Chelsea, Richmond, Knightsbridge, Mayfair, Greenwich [West], Hampstead, Holland Park. There are others, particularly in Docklands, many in secure ring-fenced estates with lots of security. Living close to almost any tube station here in London is bound to increase the price/value of a property. There is no tube where I live, but we have a fast link to the City of London [approx journey time 20 mins]. This makes my location ideal for any city slicker or gent who's in the banking and financial sector but who has not yet grabbed enough wonga to buy a mansion or a farm etc. The link below will help you find what's available in London - click on any tube station name to find out what's there. . . . http://www.metazone.co.uk/london-underground-stations.asp
3. Because we are the leading capital of the world
4. It's exactly the same in every major city of the world. Desirable places to live are going to cost more than those no one really wants to live in. London is no different. There are excellent public transport lines for a huge area around London, so I think your circumstances can really influence a choice of location. Lots of young people live in the Clapham area.. and it's only about 15 minutes from Waterloo and 3 Tube lines. Let's face it, living in the UK... anywhere... costs twice what it does in the US or many other places in the world. Taxes, taxes... and getting worse all the time.
5. Certain areas are very close to tube links (there are two lines near my house) but are still cheap. You just need to head to the less well known areas like manor house