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Revealed - Postcode property price gap has up to £37.7m difference

Property platform Boomin revealed which postcodes in England are the most and least affordable. Postcodes home to a gap of up to £37.7 million, when it comes to the most and least expensive properties purchased last year, were also revealed. 

By analysing sold price residential property transactions across England and Wales throughout 2021, Boomin was able to accumulate these results.

Overall, the results highlight how varied house prices within the same postcode and different areas can be. 


Most and least affordable postcodes in England 

According to the research, Mayfair’s W1K postcode had the highest average sold price in 2021 as around 21 transactions were averaging at £4.2 million per sale. 

Across the capital, many postcodes ranked highly as some of the most expensive postcodes for properties sold last year.

These postcodes include London’s W1B which averaged 4.2 million, WC2A at £2.7 million, SW1A at £2.6 million, and SW1X at £2.1million. 

In contrast, the north of Middlesbrough had some of the most affordable average house prices in the last year. With an average of £32,000, the area came in almost £4.2 million below the average price of a property in London’s W1K postcode.  

Below is a table of postcodes with the highest median sold price in 2021.

Outcode Area Transactions Median Sold Price
W1K Mayfair / Grosvenor Square 26 4,227,944
W1B Portland Place / Regent Street 7 4,195,000
WC2A Lincoln's Inn Fields / Royal Courts of Justice / Chancery Lane 5 2,745,000
SW1A Whitehall 4 2,575,000
SW1X Belgravia / Knightsbridge / Chelsea 63 2,139,000
W8 Kensignton / Holland Park 210 1,950,000
W1S Mayfair / Hanover Square / Savile Row 2 1,922,500
SW1W Belgravia / Chelsea / Sloane Square 53 1,700,000
SW7 South Kensington / Knightsbridge 169 1,625,000
W1G Harley Street 27 1,510,000

Largest market gaps within a single postcode

Postcodes home to the largest house price gap between the most and least affordable homes sold in 2021 were also analysed.

Kensington’s W8 postcode comprised of £2 million of homes sold in 2021, as well as a £37.7 million gap between the most expensive home sold (£38 million) and the least (£335,000). making it the postcode with the largest market gap.

The OX7 postcode of Chipping Norton has the biggest gap between the top and bottom of the market. Some of the most affordable properties sold for £95,200 while on average they sold for £395,000 in 2021. In total, this is around £18m less than the most expensive property transaction to have taken place in the postcode at £18,037,700. 

The table below shows postcodes with the largest gap between the highest and lowest sold price of a property in 2021

Outcode Area Transactions Median sold price Highest sold price Lowest sold price House price gap
W8  Kensington / Holland Park 210 1,950,000 38,000,000 335,000 37,665,000
SW19 Wimbledon / Colliers Wood / Merton Park / Merton Abbey / Southfields / Morden 909 685,000 34,800,000 123,000 34,677,000
NW8 St John's Wood / Primrose Hill / Marylebone 221 950,000 31,602,320 200,000 31,402,320
NW3 Hampstead / Belsize Park / Frognal 546 1,005,325 25,900,000 178,750 25,721,250
W14 West Kensington / Olympia / Holland Park 311 675,000 25,000,000 200,000 24,800,000
W2 Paddington / Bayswater / Hyde Park 398 830,000 23,500,000 127,500 23,372,500
SW3 Chelsea / Brompton / Knightsbridge 231 1,500,000 23,000,000 168,000 22,832,000
W1K Mayfair / Grosvenor Square 26 4,227,944 22,000,000 368,000 21,632,000
SW10 West Brompton / Chelsea 168 1,012,500 20,000,000 272,000 19,728,000
W11 Notting Hill / Holland Park 227 1,200,000 18,300,000 274,000 18,026,000

Michael Bruce, chief executive officer and founder of Boomin concludes: “The property market has been performing very well of late but it’s important to remember that when you come to sell your house, the market can be extremely diverse even within the same postcode, let alone from one postcode to the next.”

“Therefore, market research around average property values can only take you so far and while they will give you a ballpark figure of what homes are worth in your area, they won’t take your property’s unique features, size or location into account.”

“Luckily there are tools available to help you do this albeit they don’t replace the accuracy of a local estate agent.”

“Our SmartVal platform takes the best of both to deliver the most accurate valuation for your home with the support of great local agents and this will not only mean you achieve the most accurate price, but it will also see you benefit from a faster sale as unrealistically valued properties often stagnate on the market for months on end.”


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