Traveling to London next July 2015, two teenagers and four adults. I started looking in the Kensington area, which appears to be very nice, but open to new ideas. Looking for a three bedroom, two bath for a week. I have checked VRBO and airbnb, choices are staggering. I was hoping for some experienced recommendations.
This is located just south of the Thames and has excellent transportation options. http://www.vrbo.com/360217
If you're traveling with two teens, you might consider Notting Hill or Shoreditch. Notting Hill is in the Kensington area and is very hip and trendy with great shops, bookstores, and restaurants, typical London shops and storefronts, and a young vibe your kids might like. Shorditch is not far from the financial district and, until recently, was the seedy armpit of London. It's graffiti covered, in a good even artful way, and is chock-full of tiny trendy stores, restaurants, and bars tucked in all over the place, uber-hip young people, and artsy types. Very urban, brick covered, and gritty but a really lively area that's fun to explore. Although we were staying in one of the outer boroughs last summer, we spent a bit of time in both these neighborhoods and our 16 year old son declared them both "cool".