Property Rich List 2009
Britain's Property Rich List 2009 out today has revealed Kensington in West London as the UK's most expensive address, topping both the postcode ranking with average property prices in W8 of over £1.3 million and as home to the country's most expensive street, Kensington Palace Gardens where the average pad will set you back a staggering £22 million.
Compiled by leading house prices website Zoopla.co.uk, which provides free value estimates for every UK home, the comprehensive guide highlights the most exclusive neighbourhoods and addresses across England, Scotland and Wales and is available in full at zoopla.co.uk/richlist.
The three Most Expensive Areas in Britain, each with average homes values of over £1 million despite the market downturn, were named as Kensington W8 (£1,328,022), Chelsea SW3 (£1,089,859) and Knightsbridge SW7 £1,086,962). No other areas of the country managed to achieve average home values over £1m and the values in these three areas are down sharply on last year with average property prices falling almost £250,000 on average in these hotspots.
Unsurprisingly London dominates the list of Britain's most expensive areas, however outside the capital Virginia Water GU25 in Surrey leads the pack with average home values of £797,477, followed by areas including Beaconsfield HP9 (£689,690), Cobham KT11 (£672,403), Esher KT10 (£631,664), Leatherhead KT24 (£618,226) and Chalfont St Giles HP8 (£616,674).
Britain's Most Expensive Street was once again named as Kensington Palace Gardens after the average house price came in at a cool £21,954,210. Known as Billionaire's Row for its list of well-heeled residents including three homes owned by the country's richest family, the Mittals, the residents of this tree-lined avenue may well not be celebrating the fact that each home on this street has lost almost £5m (18.4%) in value over the past 12 months. Only four other streets in Britain achieved average property values over the £5m mark, including white-bricked conservation area The Boltons (£8,600,165), two private roads in Hampstead opposite Kenwood - Compton Avenue (£6,338,869) and Courtenay Avenue (£6,047,407) - and Cottesmore Gardens in Kensington (£5,265,468).
And despite the significant drop in property values over the past year, London is still home to many property millionaires with over one thousand streets in the capital (1,045) where average home values remain over the £1m mark.
Alex Chesterman, CEO of Zoopla.co.uk commented:
"Despite the current economic climate much of the country's wealth remains tied up in the property market and whilst average house prices are down across the board on last year, there still remain some pretty eye-watering numbers in this year's Property Rich List. Zoopla.co.uk provides the most comprehensive guide to property values across Britain and offers free, instant value estimates on every UK home, allowing users to check out the values of their own homes or take a virtual wander down any street in Britain including those in the Rich List."
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Notes to editors
Results at a glance
Britain's Top 20 Most Expensive
Areas (source: Zoopla.co.uk)
Rank | Area | Average home value (15 April 2009) | 12 month change (£) | 12 month change (%) |
|---|---|---|---|---|
1 | £1,328,022 | -£269,573 | -16.87% | |
2 | £1,089,859 | -£225,224 | -17.13% | |
3 | £1,086,962 | -£225,682 | -17.19% | |
4 | £933,964 | -£181,705 | -16.29% | |
5 | £863,598 | -£182,721 | -17.46% | |
6 | £797,477 | -£153,465 | -16.14% | |
7 | £766,211 | -£161,507 | -17.41% | |
8 | £735,654 | -£109,320 | -12.94% | |
9 | £689,690 | -£117,786 | -14.59% | |
10 | £679,748 | -£106,651 | -13.56% | |
11 | £672,403 | -£105,909 | -13.61% | |
12 | £660,866 | -£121,069 | -15.48% | |
13 | £654,238 | -£120,571 | -15.56% | |
14 | £631,664 | -£110,604 | -14.90% | |
15 | £618,226 | -£84,604 | -12.04% | |
16 | £616,674 | -£104,632 | -14.51% | |
17 | £594,420 | -£128,586 | -17.78% | |
18 | £586,780 | -£96,121 | -14.08% | |
19 | £572,309 | -£108,946 | -15.99% | |
20 | £563,337 | -£119,471 | -17.50% |
Britain's Top 20
Most Expensive Streets (source: Zoopla.co.uk)
Rank | Street name | Average home value (15 April 2009) | 12 month change (£) | 12 month change (%) |
|---|---|---|---|---|
1 | £21,954,210 | -£4,401,384 | -16.70% | |
2 | £8,600,165 | -£1,800,325 | -17.31% | |
3 | £6,338,869 | -£990,151 | -13.51% | |
4 | £6,047,407 | -£937,355 | -13.42% | |
5 | £5,265,468 | -£1,068,549 | -16.87% | |
6 | £4,950,395 | -£855,158 | -14.73% | |
7 | £4,747,243 | -£984,758 | -17.18% | |
8 | £4,727,620 | -£744,796 | -13.61% | |
9 | £4,684,175 | -£1,141,913 | -19.60% | |
10 | £4,592,345 | -£885,166 | -16.16% | |
11 | £4,514,426 | -£753,282 | -14.30% | |
12 | £4,511,448 | -£1,091,443 | -19.48% | |
13 | £4,463,760 | -£809,436 | -15.35% | |
14 | £4,447,580 | -£1,040,549 | -18.96% | |
15 | £4,363,696 | -£1,060,413 | -19.55% | |
16 | £4,351,761 | -£822,747 | -15.90% | |
17 | £4,349,110 | -£882,587 | -16.87% | |
18 | £4,271,837 | -£674,709 | -13.64% | |
19 | £4,233,834 | -£892,494 | -17.41% | |
20 | £4,228,629 | -£565,735 | -11.80% |
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