New research from Benham and Reeves, a London estate agent, has pinpointed the UK’s most expensive postcodes for property transactions in 2023.
The study scrutinised Land Registry data, analysing every property sale in England and Wales since January 2023.
The W1K postcode in Westminster emerged as the most expensive, boasting an average home sale price of a staggering £8m.
Another Westminster postcode, SW1X, and the EC4V postcode in the City of London were joint runners-up, with homes selling for an average of £2.45m. Overall, London postcodes dominated the top 10 spots for the most expensive property sales.
In contrast, the priciest postcode outside London was GU25 in Runnymede, where homes have sold for an average of £1.324m since the beginning of the year.
Marc von Grundherr, director of Benham and Reeves, commented on the findings: “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.
“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.
“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.”
