Weekend readers’ best photographs: chic

From suits to wellies, your best pictures on this week’s theme, chic. See more.

“Yes, London is an unfriendly city – and long may it stay that way”

What is it like to live on Britain’s most expensive street?

London’s Kensington Palace Gardens is the most expensive address in the UK - the average property value of £41m. Its vast mansions are a symbol of the growing gulf between ordinary people and the super-rich. Our reporter tries to meet the locals

Pictured: Kensington Palace Gardens … so quiet you can hear birdsong. Photograph: Oli Scarff/Getty Images

Correction: The average property value is £41m, not a cheap £14m as previously stated. 

London is the billionaire’s preferred European residence, study says

The typical billionaire holds £50m or more in real estate and has four homes. A property portfolio would typically include a £22.3m mansion in London; an £18.6m holiday home on the French Riviera and a £12.1m estate in Tuscany, alongside another luxury pad. Read more

Pictured: Billionaire’s favour London’s ‘platinum triangle’ comprising Mayfair (above), Belgravia and Knightsbridge. Photograph: Beauchamp Estates

Royal Mail to open Mail Rail to the public – in pictures

The Post Office underground railway – Mail Rail – ran under the streets of London largely unnoticed for more than three quarters of a century. Since 2003, the electrified railway has been dormant, with just a handful of engineers to maintain it. Under new plans developed by the British Postal Museum & Archive, that could all be about to change. See more

Photos courtesy of BPMA

How ghost gazumping is haunting London housebuyers

  • Name: Ghost gazumping.
  • Age: As new as London's latest housing bubble; or conversely, as old as greed.
  • Appearance: A number, followed by five or more noughts.
  • I've heard of gazumping, but what's "ghost gazumping"?: OK, so you understand how gazumping works ...
  • I didn't say that, I just said I'd heard of it: Gazumping is when an offer on a property has been agreed, but a rival buyer comes in at the last minute with a higher offer.
  • And if that rival buyer also happens to be a poltergeist, then: Not quite. Ghost gazumping – as coined last weekend by the Financial Times – is when the seller asks the buyer for more money at the last minute, even though there is no rival offer.
  • It's not as scary as I'd imagined, but it sounds damned cheeky. How does anyone get away with it?: Thanks to London's overheated, under-supplied housing market. Prices in the capital rose 15% last year, and sellers think their properties are worth more at the time of exchange than they were upon offer. In short, they do it because they can.

Pictures of the week: London’s Square Mile, by Polly Braden

Polly Braden began photographing the Square Mile of London in 2006, fascinated by the way that this City within the city operates. With its own Lord Mayor and independent police force, the Square Mile is something of an oddity, and Braden’s photographs pose the question, “What is this space in the middle of our city?” Read more

Photos: Polly Braden

The stretched middle: can Londoners cope with hundreds of new towers?

London’s relatively clear skyline, once dominated by St Paul’s Cathedral and, later, by Canary Wharf, the Gherkin and the Shard, is likely to get an awful lot more crowded over the coming years, with almost 250 tall towers proposed, approved or already under construction. Read more

Photograph: Peter Macdiarmid/Getty Images

David Beckham in Peckham – stylewatch

Beckham in Peckham is an irresistible proposition. And that’s what we have with the news that England’s favourite footballer™ has made a one-off episode of Only Fools and Horses for Sport Relief to be broadcast later this month. The new pictures, which surfaced today, are a treat: Beckham goes back to his Laan-dan roots down the market, next to a strategically placed box of bananas. Read more

Photograph: Ray Burmiston

The slow death of Silicon Roundabout

Scattering Shoreditch’s startups to the winds may not kill them all – but the creative energy that inspired them has gone. Read more

Photograph: Bloomberg/Getty