X marks the spot! London’s most active property market postcodes

Despite the London market trailing the rest of the UK where the pandemic house price boom is concerned, research from London lettings and estate agent, Benham and Reeves, has disclosed which of the capital’s postcodes are going against the grain of an otherwise muted London market, with the highest levels of homebuyer activity.

In short, the average house price in the capital is now £526,183 with an average of 4,813 homes being sold across London each month. To put it into perspective, that’s £2.5 billion worth of brick-and-mortar changing hands between homebuyers and sellers on a monthly basis.

Director of Benham and Reeves, Marc von Grundherr, commented: “London has been brandished as the nation’s worst performing area of the property market over the last two years, with pandemic complications leading to a muted level of market activity which has also dampened house price growth when compared to the astronomical rates seen across the rest of the UK.”

“But as is often the case with any topline look at the property market, this broad view of London’s performance doesn’t tell the whole story and there are plenty of postcodes within the capital that are currently enjoying a robust degree of demand from homebuyers.”

“It’s also important to note that while house prices haven’t increased by the same margin as the rest of the UK, they’re still up 8.2% in the last year. As a result, the capital remains head and shoulders above the rest in terms of house price pedigree, with £2.5bn worth of property changing hands on a monthly basis.”

London’s top pick postcodes

Croydon ranks top when it comes to the most popular London postcodes, where 84 homes are sold per month within the CR0 postcode.

With an average of 69 homes sold per month, Wandsworth SW18 postcode is also proving to be a top pick, while the boroughs SW11 (55) and SW17 (50 postcodes also make the top 10.

Merton’s SW19 postcode comes in third as the most popular pocket of the London property market at present, where an average of 63 homes are selling per month.

When looking at the East London area E17 in Waltham Forest is currently the most in demand with 63 property purchases per month, while Hackney’s N1 postcode isn’t too far behind with a monthly average of 55 homes sold.

E14 in Tower Hamlets (50), Bromley’s BR1 postcode (50), and SW16 in Lambeth (48) complete the top 10 most popular London postcodes in the current market.

London’s most valuable postcodes

When the total market value was analysed, Wandsworth’s SW11 postcode sits top of the table with an average property price of £916,946, and the 55 homes sold on average each month equate to a total market value of a whopping £50.4 million.

The SW6 postcode of Hammersmith and Fulham sees £45.2 million worth of property sold each month, with Wandsworth’s SW18 (£45.1 million), SW1 straddling Westminster and Kensington and Chelsea (£44.6 million), and SW19 in Merton (£44.3 million) also seeing more than £40 million worth of homes sold on a monthly basis.