UK’s most expensive property postcodes revealed

Jessica Nangle

February 5, 2020

W1J is the postcode with the highest average prices for property paid by homebuyers in the past year, according to GetAgent.co.uk.

Average property sold prices were £7.6m in this postcode, followed by an average sold price of £5.5m in SW1A and W1S at £4.3m.

Outside of the capital, GU25 in Surrey is the most expensive property postcode where prices in the area averaged £1.5m.

The M2 postcode sees average sold prices of £1.3m, whilst Buckinghamshire’s HP9 is the only other postcode where sold prices have averaged over £1m in the past year.

Stockton’s TS2 ranks as the most afforable postcode, with an average sold price of £34,000.

Colby Short, founder and chief executive of GetAgent.co.uk, said: “Apparently there’s been a Brexit inspired market slowdown?

“Although someone clearly forgot to inform homebuyers in these pricey postcodes, with the average selling price remaining at a very healthy level indeed.

“When it comes to the prices being paid for the property in these postcodes it boils down to two things. Prestige and supply.

“Well to do homebuyers want the prestige of living in one of these well-renowned postcodes but unfortunately, there’s only a finite supply of homes available within them.

“Therefore when one does hit the market, not only does it hold its value pretty much regardless of wider market conditions, but the chances of two or more buyers running the price up in a bidding war are also high.

“Who would have thought four little letters could have such an impact on property prices?”

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