The W1K postcode in London, which includes Claridge’s, The Dorchester, and The Connaught, has the highest house price premium at 88% compared to the rest of Westminster, according to data from Foxtons.
The average property price in this area is £2,265 per square foot.
The research analysed 13 London postcodes known for their prestigious brandmarks, with W1K leading the list.
The SW1X postcode in Knightsbridge, home to The Mandarin Oriental, came in second with an average price of £2,208 per square foot and a 67% premium over the average in Kensington and Chelsea.
Mayfair’s WIJ postcode followed, with an average price of £1,873 per square foot, commanding a 55% premium.
The WC2 postcode, which includes The Ivy and The Savoy, recorded a 52% premium, while EC3, home to the Sky Garden, had property prices 47% higher than the average in the City of London.
The WC2 postcode saw the highest annual house price growth, climbing by 27% over the past year.
In comparison, property prices around The Mandarin Oriental in SW1X increased by 11%.
Guy Gittins, CEO of Foxtons, said: “London’s famous brandmarks draw people from around the world to come and visit the capital and so naturally, properties within the same postcode can be in very high demand amongst London’s homebuyers.
“As they are also located in some of the most prestigious pockets of the London property market, a home within arm’s reach certainly won’t come cheap, costing well over £1,500 per square foot on average.
Gittins added: “In fact, living within close proximity to one of these famous brandmarks will see you pay a considerable premium compared to the wider boroughs which are already home to the highest house prices across the capital.”
