Guest Post: The Other Postcode Lottery-Britain’s most expensive postcodes
Posted on August 16, 2012
Despite the sluggish property market in the rest of the UK, the property market in London remains very healthy indeed. It’s probably no great surprise that the capital is home to not only royalty and government but some of the most expensive postcodes in the UK. SW1AA 1AA is not normally listed in this category – however, Buckingham Palace at an estimated value of£1 Billion, should probably provide the crowning glory to any listing of the UK’s most expensive and exclusive properties. However, the last time a property (well, the only property) in this postcode was sold was in 1761. George III bought “Buckingham House” as a little spot for the missus and the kids, renaming it the “Queen’s House”. Currently it still is the Queen’s house, and considering her great-great-great-great-grandfather allegedly only paid £21,000 for it, at the modern valuation of “offers in the region of” £1 billion (Zoopla, 2008) it seems that George III wasn’t as mad as he’s normally portrayed.
Handy for the Shops However, for the discerning multi-millionaire, the palace is not the only desirable postcode in London. Just down the road in Knightsbridge the average price of property is around £1.91 million – and that’s only the average! Knightsbridge’s top postcode is SW1X; in the past this postcode covered little more than a village green and occasional cattle market. Today it’s home to some livestock of a more exclusive kind, with a rumours circulating that an apartment in one of the better developments recently achieved £100 million. The facilities in the area are top notch, of course, with Harrods within a few hundred yards; Harrods sells just about everything you could ever need with the exception of cattle.
Everybody loves well-armed Neighbours London’s other must-have postcode for the fantastically wealthy is W8. This particular postcode has long been one of the most sought after, with Kensington Palace Gardens being one of the priciest streets going. Also known as Billionaire’s Row the street has excellent access to the park itself, and is also home to a rather large number of embassies. The embassies themselves are believed to belong to the crown estate – although held on very long leases. If it’s security you’re looking for, then the armed secret services of several powerful nations should reassure you that neighbourhood watch really packs a punch in the street. Homes don’t come under the hammer that often here, but when they do you’ll be looking to dig deep; around £1,891,000 is the average sale price.
Virgin Territory If it’s an escape to the country that you are looking for, without running the risk of encountering truly rural neighbours, then Virginia Water in Surrey should be for you. Properties in the GU25 postcode average £695, 919. The neighbours have included the Duchess of York, Elton John and a whole gaggle of Hollywood stars. Believed to have been named for the “Virgin Queen” Elizabeth I, property prices have remained high throughout the ages. The average price may seem relatively low, but it disguises a number of multi- million pound pads.
That Sinking FeelingIf you do like to be beside the seaside and have a bit of spare cash, then Poole in Dorset is the rural/coastal retreat for you. Poole lies in the county of Dorset a little to the west of Portsmouth. The harbour at Poole has a long history, and it’s one of the biggest natural harbours in the world. The Average property price in BH13 is £682, 855 but this is boosted by the exclusive hamlet of Sandbanks. Properties here are valued in the millions and it’s a playground for the super-rich and nautically minded. Despite the name the hamlet is not subject to the shifting sands of fashion and remains perennially “the” place to be seen for the young, trendy and super-rich. I’ll say nothing about more money than sense, but Sandbanks, you know, sand, sea, global warming? The people who live and play here, however, can afford not to care!
Buckingham Palace-located in one of London’s most sought after postcodes
High net worth home insurance is a must is many of Britain’s most expensive postcodes – although the security arrangements in W8 may help you to negotiate a reasonable discount!
Author Bio Jason actively blogs about Small Business, Finance and Insurance, covering everything from tips for small businesses to high value insurance. On his free time he likes exploring new unfound places. Enjoying and indulging in his travel destinations.
Julie is a librarian by day, die-hard travel fanatic and writer by night. When she’s not traveling, she’s either testing out a new recipe or being a foodie in Pittsburgh. If you’re interested in seeing where she travels to or what she makes next, follow along via the links below!