W1J 5: London's most expensive postcode
Monday, 16 May 2011 3:26 PM
London's most expensive property postcode is W1J 5, research by Investec Specialist Private Bank has revealed.
The firm analysed Land Registry data and found that the area, which is in the borough of Westminster, had an average property value of £3.98 million in 2010.
After W1J 5, the second most expensive area was SW1W 9 (also in Westminster), followed by Kensington's SW3 6, NW8 8 in Paddington, W8 7 (Kensington), SW3 4 (also Kensington), and NW1 4 in Camden Town (see table below for average property prices in each postcode).
The number of London postcodes where the average detached property was worth over £2 million increased from nine in 2009 to 20 in 2010. The increase was also seen in semi-detached house prices, with eight London postcodes averaging £3 million-plus compared with only one a year before.
| Postcode |
Average price of property sold in 2010 |
| W1J 5 (Westminster) | £3,976,667 |
| SW1W 9 (Westminster) | £2,784,512 |
| SW3 6 (Kensington) | £2,385,964 |
| NW8 8 (Paddington) | £2,335,351 |
| W8 7 (Kensington) | £2,036,624 |
| SW3 4 (Kensington) | £2,027,181 |
| NW1 4 (Camden Town) | £2,018,194 |
Investec Specialist Private Bank analysis of 2010 Land Registry data
The fast-expanding bracket of multi-million-pound postcodes reflects the growth in the prime property market as a whole: Knight Frank announced on Friday that average house prices in central London increased by £767 every day over the past year, contributing to an annual growth rate of 8.3 per cent.
Jack Jones of Investec Specialist Private Bank said: "The London prime property market is enjoying strong growth, and it should continue to perform well whilst the capital remains one of the most popular places to live for ultra-high net worth individuals."
Want to be the first to know when we break a story? Follow @AboutProperty on Twitter and subscribe to our free weekly newsletter.
