Editor's Pick
London’s super-prime postcodes revealed
These are the capital’s most expensive postcodes, including where one property recently sold for a cool £110m
N2 in East Finchley is currently London’s most expensive super-prime postcode, according to Enness Global.
The high-net-worth broker said the postcode is currently home to an average sold price of £14.1m, with prices up 263% on the same period last year.
In second place is Mayfair’s W1K postcode, with a median sold price of £9.2m.
N6 in Highgate is the third priciest postcode in the capital so far this year (£9m), with prices also seeing the second-highest increase when compared to the first quarter of 2019 (+124%).
The top 10 super-prime postcodes are:
- N2 East Finchley – £14,137,500
- W1K Mayfair – £9,227,500
- N6 Highgate – £9,000,000
- W1G Marylebone – £7,525,000
- NW8 St John’s Wood, Regents Park – £7,000,000
- SW1W Belgravia – £6,350,000
- SW1X Knightsbridge & Belgravia – £5,550,000
- SW3 Chelsea – £5,250,000
- SW7 South Kensington – £5,062,500
- SW1H Westminster – £5,000,00
Across the capital’s 50 most sought-after postcodes for the super-rich, the average sold price for homes over £3m hit £4.5m in the first quarter of this year, despite the disruption caused by COVID-19.
However, the crisis has had a huge impact on transactions, declining by 42% when compared to this time last year.
Most expensive property
The NW8 postcode was home to London’s most expensive public sale in the first quarter of this year, with a flat on Hamilton Terrace going for £110m.
The postcode has also seen the third-largest increase in sold prices compared to the first quarter of last year at 92%.
Group CEO of Enness Global Mortgages, Islay Robinson, said: “For the very high-end buyer, London remains the pinnacle of homeownership and in the most sought after pockets of the capital, property values aren’t as susceptible to wider market turbulence.
“This remains evident over the first quarter of this year as London’s most prestigious postcodes continued to register very strong price performances while the rest of the market became paralysed from pandemic uncertainty and lockdown restrictions.
“Yes, transactions have declined, but in a segment of the market where they are few and far between anyway, volume takes a back seat and price remains the leading indicator of market health.”
