St John's Wood

St John's Wood is a district of north-west London, in the City of Westminster, and on the north-west side of Regent's Park. It is a very affluent neighbourhood, with the postcode NW8 ranked by Forbes magazine as the 5th most expensive postcode in London based on the average home price in 2007. According to a 2014 property agent survey, St. John's Wood residents pay the highest average rent in all of London. In 2013, the price of housing in St John's Wood reached exceptional levels. Avenue Road had more than 10 large mansions/villas for sale. The most expensive had an asking price of £65 million, with the cheapest at £15 million. The remainder were around £25 million. St John's Wood was developed from the early 19th century onwards. It was one of the first London suburbs to be developed with a large amount of low density "villa" housing, as opposed to the terraced housing which was the norm in London up to the 19th century, even in expensive districts. Parts of St John's Wood have been rebuilt at a higher density, but it remains a highly desirable residential district, and one of the most expensive areas of London.