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The latest research by London lettings and estate agent, Benham and Reeves shows that the W1K postcode of Westminster sits top of the table as the nation’s priciest so far in 2023.

Since the start of the year, the average home sold in the postcode has gone for a staggering £8m.

Westminster also accounts for the joint second most expensive, with the SW1X postcode seeing homes sell for an average of £2.45m along with the City of London’s EC4V postcode.

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Camden’s WC2A postcode also ranks high with an average sold price of £2.1m so far this year and, in fact, London dominates the top 10 priciest postcodes in England and Wales.

The priciest property postcode outside of London is currently the GU25 postcode in Runnymede where homes have commanded an average of £1.32m since the start of the year.

The TQ8 postcode in Devon has seen an average sold price of £1.3m with Cornwall’s PL28 ranking third, where the sold price sits at £1.23m.

Read about the UK Housing Market via our Specialist Residential & Buy to Let Division

Buckinghamshire’s HP8 (£1.2m), HP9 (£1.18m) and SL8 (£1.18m) also rank within the top 10, along with IG7 in Epping Forest (£1.09m), KT11 in Elmbridge (£1.035m), TN7 in Wealden (£962,500) and Guildford’s KT24 (£950,000).

Benham and Reeves director Marc von Grundherr, comments:“Much has been said about the London lethargic housing market performance since the start of the pandemic and the capital has certainly trailed other areas of the UK with respect to the rate of house price growth seen in recent years.

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“However, it remains the most prestigious pocket of the market when it comes to the nation’s priciest postcodes and by quite some margin, even in cooler market conditions like those that we’ve seen so far this year”.

He adds: “In fact, very few postcodes outside of the M25 can rival the might of London, but that’s not to say that there aren’t some very valuable postcodes dotted elsewhere around the nation.”

By David Burrows

Source: Mortgage Strategy

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