It is, frankly, an obvious lie. The tipping point wards in RBKC have a higher proportion of baronets than they do of social housing.
Didn't labour win the constituency in 2017 and it was pretty marginal in 2019 ?
The Kensington constituency doesn't include Chelsea, which is very safely Conservative. North Kensington is very strong for Labour and there are a few other pockets of support scattered about, but Chelsea and South Kensington are incredibly wealthy and their electorates are rock-solid Conservative under any conceivable circumstances.
And, actually, if the Kensington constituency was its own council a Labour majority would still be a massive, massive longshot due to the spread of support in the seat.