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The Average Home buyer pays £8 Million. Welcome to London’s priciest postcode

In England, the cost of entry to reside within the priciest postcode stands at an average of £8 million (US$10.2 million).

London’s W1K postcode, encompassing a significant portion of the esteemed Mayfair neighborhood, claims the top spot as the most expensive housing market across England and Wales, as per a report released by estate agency Benham and Reeves on Monday.

Unsurprisingly, the capital city dominates with the top 10 priciest postcodes nationwide.

Tied for the second position are SW1X—encompassing much of Belgravia and a portion of affluent Knightsbridge—and EC4V, covering a Thames-side area in the City of London. Properties in these areas have fetched an average of £2.45 million since January.

The WC2A postcode, housing landmarks like the London School of Economics and the Royal Courts of Justice, secures the third spot with an average sale price of £2.1 million.

Here are the most expensive postcodes across England and Wales:

– Postcode district W1K
– Location: London
– Average price: £8,087,500
– Postcode district: SW1X
– Location: London
– Average price: £2,450,000
– Postcode district: EC4V
– Location**: London
– Average price: £2,450,000
– Postcode district: WC2A
– Location: London
– Average price: £2,073,700
– Postcode district: W1J
– Location: London
– Average price: £2,050,000
– Postcode district: SW1W
– Location: London
– Average price: £2,000,000
– Postcode district: W1T
– Location: London
– Average price: £1,900,000
– Postcode district: W1U
-Location: London
– Average price: £1,887,500
– Postcode district: W8
– Location: London
– Average price: £1,887,500
– Postcode district: HA6
– Location: London
– Average price: £1,885,000

“While the housing market in London has faced challenges since the onset of the pandemic, it still remains the epitome of prestige in terms of the nation’s priciest postcodes, even amidst the current subdued market conditions,” stated Marc von Grundherr, director of Benham and Reeves.

He further added, “Few postcodes outside the M25 can match the allure of London. However, valuable postcodes are scattered elsewhere across the nation.”

Beyond the capital, the most expensive postcode is GU25 in Surrey, home to the upscale Wentworth Estate and the renowned Wentworth golf and country club, where properties have commanded an average of £1.3 million since the beginning of the year.