18 Aug Britain’s Top 5 Wealthiest Postcodes
From the data gathered by address management tools to the aspirations of UK residents, there has always been a lot of interest in the wealthiest postcodes in Britain. A break from the everyday lives of residents of Britain, the wealthiest postcodes provide a small insight into a completely different world, one where house prices soar way above just a couple of million on average.
The wealthiest postcodes in Britain are often on the receiving end of professional data collection. While expert database cleansing services, like those provided by Hopewiser, ensure that the data is kept up to date and relevant, companies with products for the super-rich among Britain are able to get an insight into just what the high wealth individuals are looking for. At the same time, the population of Britain can also get a closer look at the exclusivity of the streets and towns in Britain that attract the richest proportion of the population.
It is unlikely to come as a surprise to most British residents that every postcode within the Top 5 are all in and around London. As the capital city of England with a population of more than 8.75 million, London is one of the most popular cities in the world for the super-rich to buy a property in. Close to the headquarters of some of the biggest and most influential companies in the world, with a thriving business district and stock-exchange, there is little wonder as to why the postcodes in London attract such a wealthy assortment of individuals.
As of September 2016, a study by Zoopla showed that Britain’s Top 5 wealthiest postcodes are:
- SW7 – Knightsbridge
At the top of the list is Knightsbridge, with an average value for properties in the postcode coming in at £2,715,273 in 2016. With many of the local stores consisting of big name brands like Gucci, Chanel and Armani, the postcode is a luxury shopping district for the super-rich and home to Britain’s most famous department store, Harrods. Knightsbridge is also the location of one of Britain’s most expensive real estate locations, Number One Hyde Park. With a single apartment recently for sale in Number One Hyde Park for £75 million, the trend has been sent to ensure that Knightsbridge doesn’t fall far from the top any time soon.
- W8 – Kensington
From homes that feature exclusive museums to those that have swimming pools underground in the capital city, Kensington may be second on the list of wealthiest postcodes, but it is still as opulent as Knightsbridge. In fact, while the Kensington postcode may be second, the most expensive street in Britain, Kensington Palace Gardens, is in the W8 postcode. As of 2016, the average property value in Kensington was £2,706,626, with those in Kensington Palace Gardens averaging £38,266,143. Surrounding Kensington Palace are many of the most important embassies in London, as well as the homes of countless celebrities and extremely high net worth individuals, cementing W8 place as one of the most expensive postcodes in Britain.
- SW3 – Chelsea
The location of the second most expensive street in Britain, The Boltons, and with a property value of £2,530,643, Chelsea is one of the most well-known and luxurious postcodes in Britain. With many high-end boutiques and with homes belonging to celebrities like Eric Clapton and Kylie Minogue, the prices of homes in Chelsea can easily exceed £20 million with many of the most desirable properties coming with a price tag of more than £30 million. A peaceful location in London, yet still close to the busiest districts, Chelsea is historically one of the wealthiest postcodes in London.
- W11 – Notting Hill
Notting Hill has not always been amongst the wealthiest postcodes in Britain but as the average house value in 2016 hit £1,858,285, there is now no doubt as to how influential a postcode it has become. An incredibly fashionable area of London to reside, the postcode is filled with some of the best boutiques and restaurants in London, as well as the famous Portobello Road Market, attracting shoppers from all over the world.
- SW1 Westminster
Located in central London, Westminster is home to many of London’s most famous landmarks, including Buckingham Palace, the Houses of Parliament and the Westminster Cathedral, making the postcode one of the most popular tourist destinations in the city. The historic area of London has an average property cost of £1,759,788, despite Buckingham Palace itself being estimated to be worth more than £2 billion. Must of London’s political business happens in Westminster, attracting wealthy individuals from around the world to the historic neighbourhoods in the London borough.