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2010 Property Rich List

19th May 2010

- The definitive guide to Britain's most exclusive addresses -

  • W8 named UK's most expensive postcode with average house prices of £1.5m
  • Most expensive street, Kensington Palace Gardens, home to country's richest
  • Almost 2,000 (1,995) streets with average property prices over £1 million
  • London unsurprisingly most expensive area, NE Lincolnshire least expensive

Britain's Property Rich List 2010, released today by leading property website Zoopla.co.uk, reveals the W8 area of London (Kensington) at the top of the Most Expensive Postcodes in the country, with average house prices in this exclusive neighbourhood now topping £1.5 million, up 9.4% (£134,000) from just one year ago.

And, once again, topping the list of the Most Expensive Streets in the country is Kensington Palace Gardens, where the average property will set you back a cool £18 million. Also known as Billionaires Row, this exclusive gated street is home to royals from Saudi and Brunei and billionaires from Russia and India, including Britain's richest man, steel tycoon Lakshmi Mittal.

As expected, London dominates the rankings as property prices in the capital have rebounded sharply over the past year and are now well up from the 2008 lows. Virginia Water in Surrey, where the average property is now worth £920,000, is the only area outside London to make the Top 10 Most Expensive Postcodes.

In addition to W8 (Kensington), only four other areas in the country can lay claim to being Million Pound Postcodes - SW7 (Knightsbridge) and SW3 (Chelsea) where average house prices are just under £1.3 million, W11 (Notting Hill) where buying the average property will leave you with a few quid change from £1.2 million and SW10 (West Brompton) where the average pad will cost you just over £1million.

The number of Golden Streets, where average home values are over £1m, now stands at 1,995, with the vast majority (1,418) located in London. Outside the capital, the places with the highest number of Golden Streets are Guildford (47), Richmond (44) and Leatherhead (40) according to Zoopla.co.uk, which provides free value estimates for every home in the UK.

Outside London, topping the list of Most Expensive Areas to live are Windsor & Maidenhead where average property prices are now £393,000 followed by South Gloucestershire (£367,000) and Surrey (£348,000). At the other end of the scale, North East Lincolnshire and Hartlepool lead the list of Britain's Least Expensive Areas with average house prices of under £120,000.

Nick Leeming, Commercial Director, Zoopla.co.uk said: "As a nation we're obsessed with property values and our latest Property Rich List once again lifts the lid on the most exclusive places in the country to live. The past 12 months has seen house prices in the leading areas of the country rebound at a far faster rate than the average, contributing to a widening of the North-South divide."

Top 10 Most Expensive Postcodes

Rank Postcode Avg. Value May 2010 12 month change (£) 12 month change (%)
1 W8 (Kensington) £1,553,770 +£133,601 +9.41%
2 SW3 (Chelsea) £1,292,193 +£132,578 +11.43%
3 SW7 (Knightsbridge) £1,285,834 +£123,301 +10.61%
4 W11 (Notting Hill) £1,093,591 +£95,851 +9.61%
5 SW10 (West Brompton) £1,019,443 +£83,323 +8.90%
6 GU25 (Virginia Water) £920,138 +£74,457 +8.80%
7 SW13 (Barnes) £893,884 +£77,884 +9.55%
8 NW3 (Hampstead) £881,392 +£67,235 +8.26%
9 NW8 (St John's Wood) £831,362 +£55,072 +7.09%
10 SW5 (Earl's Court) £782,518 +£76,497 +10.84%

Source: Zoopla.co.uk

Top 10 Most Expensive Streets

Rank Street Average Value May 2010
1 Kensington Palace Gardens, W8 £18,236,243
2 The Boltons, London SW10 £10,738,899
3 Frognal Way, London NW3 £10,372,022
4 Compton Avenue, London N6 £7,034,621
5 Courtenay Avenue, London N6 £6,724,397
6 Cottesmore Gardens, London W8 £6,241,219
7 Victoria Road, London W8 £5,814,461
8 Park Place Villas, London W2 £5,791,165
9 Mulberry Walk, London SW3 £5,713,701
10 Carlyle Square, London SW3 £5,644,362

Source: Zoopla.co.uk

Top 10 Most Expensive Areas

Rank Area Avg. Value May 2010 12 month change (£) 12 month change (%)
1 London £400,813 +£32,465 +8.81%
2 Windsor & Maidenhead £392,825 +£17,937 +4.78%
3 South Gloucestershire £366,651 +£31,548 +9.41%
4 Surrey £347,825 +£23,015 +7.09%
5 West Berkshire £326,493 +£24,026 +7.94%
6 Hertfordshire £304,166 +£18,964 +6.65%
7 Oxfordshire £298,648 +£27,868 +10.29%
8 Buckinghamshire £282,263 +£14,359 +5.36%
9 Bath & N E Somerset £277,614 +£16,824 +6.45%
10 Berkshire £270,022 +£18,302 +7.27%

Source: Zoopla.co.uk

Top 10 Least Expensive Areas

Rank Area Avg. Value May 2010 12 month change (£) 12 month change (%)
1 North East Lincolnshire £118,373 +£5,235 +4.63%
2 Hartlepool £119,577 +£3,064 +2.63%
3 North Lincolnshire £124,505 +£5,298 +4.44%
4 Durham £130,612 +£1,976 +1.54%
5 East Riding of Yorkshire £132,917 +£4,554 +3.55%
6 Nottinghamshire £135,049 +£2,614 +1.97%
7 South Yorkshire £136,065 +£3,138 +2.36%
8 Merseyside £137,964 +£2,808 +2.08%
9 Lancashire £144,746 +£3,023 +2.13%
10 Tyne & Wear £147,729 +£8,904 +6.41%

Source: Zoopla.co.uk

The full Zoopla.co.uk Property Rich List 2010

- Ends -

For further information, please contact Tim Vooght at pr@zoopla.co.uk or on 020 3872 5615.

Notes to editors

About Zoopla.co.uk

Zoopla.co.uk is the UK's most comprehensive property website, focused on empowering consumers with the resources they need to make better-informed property decisions. We help our users make sense of the residential property market by combining property listings with market value data, local information and community tools.

Zoopla.co.uk was founded on the principles of transparency and efficiency and everything we do aims to make the market more effective for both property consumers and professionals alike. By combining free, instant value estimates for every UK home with sold prices, local market information and hundreds of thousands of properties available for sale and to rent, Zoopla.co.uk has rapidly become the ultimate destination for property consumers to search for property and do their market research. Our unique features allow users to gain an insight into the market and discover information they won't find anywhere else. And, as a result, we have become one of the most valued sources of both applicant and vendor leads for UK estate agents.

Launched in 2008, we are the fastest growing property website in the UK, now attracting over 12 million visits per month and are proud to have been awarded numerous accolades including being listed in the Top 10 UK Tech Companies (Guardian) and the Top 10 Most Innovative UK Companies (Smarta 100) as well as being voted the UK's Best Property Portal (Web User, Daily Mail Awards, Website of the Year).

Zoopla Limited is a privately held company with a highly experienced and proven management team, led by Founder and CEO, Alex Chesterman, and backed by well-respected angel investors and leading venture capital firms Atlas Venture (atlasventure.com) and Octopus Ventures (octopusventures.com).

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