Property Rich List 2015: Britain's most expensive postcodes

Britain's top postcodes for million-pound houses are in London and Surrey, according to Zoopla's 2015 Property Rich List.
Click to follow
W8 - the west London home of Kensington Palace and the "Billionaires Row" that is Kensington Palace Gardens - has once again topped the list of the capital's most exclusive postcodes, reveals this year's Property Rich List.

The Beckhams, Chelsea Football Club owner Roman Abramovich and Formula One heiress Tamara Ecclestone all own homes in the Royal Borough of Kensington and Chelsea. Renowned for its stucco mega mansions in private roads and exclusive garden squares, properties in W8 sell for an average of £2,771,223. 

Discover the UK's top 10 most exclusive postcodes, in reverse order:

Zoopla's annual report reveals the top 10 costliest postcodes are all in London, with house prices in super-prime neighbourhoods averaging between £1.4 million and W8's £2.77 million-plus.

Knightsbridge (SW7) and Chelsea (SW3), both in south-west London, complete the top three, with average house prices sitting above the £2 million mark.

Yet only two postcodes in the top 10 have recorded annual house price growth - Hampstead in NW3 and St John's Wood in NW8 - as an overall slowdown continues to affect London's prime property market.

According to this year's rich list, there are now 10,958 streets in the UK with average property prices above the £1 million mark - and almost half of these (43 per cent) are in London

Beyond the capital, Surrey is emerging as exclusive commuter territory, with towns such as Virginia Water and Cobham commanding average house prices of £1.2 million and £1.04 million respectively.

Buckinghamshire is home to the third most expensive town, Beaconsfield, but average property prices there are still just shy of the £1 million mark, at £982,660. 
READ MORE: Property Rich List 2015: Britain's top 10 most expensive towns

Lawrence Hall, of Zoopla, says: “London continues to be the epicentre of the million-pound homes market in Britain. However, our list reveals a number of high-value property areas outside the capital, particularly in Surrey and Buckinghamshire, that are very attractive to professionals seeking to live outside - yet within easy reach of - the city and enjoy low crime rates coupled with good schools.”

Nevertheless, the home counties still have a long way to go before catching up with London property prices. The mega mansions and private estates along Kensington Palace Gardens in W8 - the most expensive street in Britain - are worth a staggering £42.6 million - 150 times the national average.
READ MORE: Revealed: 2015's top 10 most exclusive streets in Britain

Follow us on Twitter @HomesProperty, Facebook and Instagram