When it comes to the most expensive postcodes in Britain, statistics seem to overlook at least one. Estimates by the internet property experts ‘Zoopla’ place the average property price in SW1A 1AA at around the £935 million mark. Perhaps it’s because the postcode only contains one property and that dwelling isn’t owner occupied but is, in fact, a state owned residential development.
Despite the fact that the property is occupied by an elderly couple, who could be expected to feel the need to downsize, it is unlikely to be available in the near future. Like many other council tenancies there are arrangements in place for the tenancy to stay in the family, at least for the foreseeable future. If you’re still wondering, it’s called Buckingham Palace. So if you’re looking to move to one of Britain’s top postcodes, you’ll probably have to look further down the road but, thankfully, not that far.
W8-a-minute. How much?
After Buckingham Palace, the next most prestigious postcode in the capital is W8. Consistently the highest priced street, in London and the UK, is Kensington Palace Gardens, with it’s sought after postcode of W8 4QP. Properties in Kensington Palace Gardens regularly come with a price tag topping an average of £18 million; making this illustrious strip of road a haven for high net worth home insurance brokers. Like SW1A 1AA there’s a fair sized state-owned housing scheme in the proximity, this one being called Kensington Palace, and the residents are known to have close links with the family down the road.
This doesn’t seem to bother the multi-billionaires who live in Kensington Palace Gardens, who include a host of ambassadors alongside Lakshmi Mittal, , an Indian industrialist, who is believed to be the richest man in the UK – and India – and Asia. He bought 18-19 Kensington Palace Gardens from Bernie Ecclestone recently, which presumably means that residents are no longer troubled by the revving of Formula One engines late on a Friday night.
With it’s plethora of embassies, Palace Gardens probably boasts the best armed Neighbourhood Watch scheme in the country. But for those of us who are easily bored by the sight of liveried flunkies chatting to the milkman and prefer a more artistic community, Holland Park is just along the road. The area was largely rural during the 19th century until the rapid expansion of London. The architecture in Holland Park includes The Royal Crescent, a stylish copy of the original in Bath.
The design was partly dictated by the latest innovative technology of the day (sewers) and the development was soon followed by many more. The area was hugely popular with famous artists of the day which established its reputation as an artistic, Bohemian neighbourhood. Today with Holland Park Square properties topping £10 million the discerning millionaire can experience the cultured life without any running the risk of meeting with any young, controversial or poor types.
Escapes to the country, darling?
While it’s a must to be in Town during the week it’s only natural to spend ones downtime in the Country. Consistently in the Top Ten most expensive postcode regions is Virginia Water (GU25), in Surrey. The fact this Surrey village has boundaries with Old Windsor, Sunninghill and Ascot, gives you a distinct clue as to the sort of friendly yokels you might bump into down the corner shop. The Duchess of York had a home in the area, Cliff Richard, Bruce Forsythe and a number of international sports stars have “whiled away the hours conversing with the flowers” in this neck of the woods.
Properties in Virginia Water regularly fetch in excess of £1 million, although compared to city homes their current average price of £1.7 million seems eminently affordable. The lake itself is mostly in Windsor Great Park, which forms part of one of those housing schemes for that family. Again, it doesn’t seem to bother local residents!