"Whilst an average sold price north of £4m may be eye-watering to the average buyer, the reality is that the most expensive transactions happening across the prime London market tend to take place behind closed doors"
- Damien Jefferies - Jefferies James
Jefferies James analysed price-paid data from the Land Registry looking at transactions to have completed across England and Wales over the last year*, breaking the market down at postcode level to find the nation’s most prestigious property postcodes based on the median sold price of homes sold.
Whilst London may have trailed the rest of the nation with respect to the rate of house price growth seen over the last year, it remains by far the most expensive area of the property market, with the capital’s postcodes dominating the top 10 most expensive where sold prices are concerned.
Topping the table is Westminster’s W1B postcode, which runs from Piccadilly Circus to Regents Park. Over the last year, the average sold price across the postcode sits at a huge £4.375m, making it by far the most expensive in the nation.
In second place is the nearby postcode of W1K, which is also found in Westminster and runs along the east side of Hyde Park. Over the last year, the average sold price across the W1K postcode has sat at a cool £3.65m and, in fact, Westminster accounts for a further four of the top 10 most expensive postcodes in the nation with W1J (£2.675m), SW1H (£2.55m), SW1E (£2.325m) and WC2R (£2m) also making the list.
The Kensington postcode of SW1X ranks as the third most expensive in the nation, boasting an average sold price of £2.8m, whilst the EC3A and EC2M postcodes of the City of London also make the top 10 with respective average sold prices of £2.2m.
But you needn’t travel far from the capital to find the most expensive postcode outside of London. The EN5 postcode is actually located within the M25 and whilst it partly covers the London Borough of Barnet, homes sold across the EN5 postcode in the neighbouring area of Hertsmere have averaged a cool £1.875m over the last year.
Elsewhere outside the capital, some of the highest sold prices over the last year have been found across HA6 in Three Rivers (£1.22m), BR6 in Sevenoaks (£1.155m), HP9 in Buckinghamshire (£950,000) and SM2 in Epsom and Ewell (£915,050).
“London has always led the way when it comes to prime market property values and the city is not only home to the most desirable and expensive properties in the nation, but it’s one of the most attractive for the wealthiest buyers on the global stage," explained Founder of Jefferies James, Damien Jefferies "Of course, whilst an average sold price north of £4m may be eye-watering to the average buyer, the reality is that the most expensive transactions happening across the prime London market tend to take place behind closed doors.
"Such is the influence of the London market, that even when looking at the most expensive postcodes outside of the city, you needn’t look far, with the rest of the nation’s most prestigious postcodes all found within arm’s reach of the capital.”
