While the average property price in the UK is £298,602, according to Halifax’s house price index, there are some areas of the country where a home will cost you up to 20 times more than this.
Many of these places are in London, where the average property price is £545,183. The capital is home to nine out of ten of the most expensive postcodes in the UK.
Despite London’s dominance, there are still plenty of places in the country where buying a house will cost you a pretty penny. We look at where they are and how much the average property price is in the priciest postcodes.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Though the rate of house price growth in London has trailed the rest of the UK over the last year, the capital remains the most expensive area of the property market by a mile.
The most expensive postcode in the UK is W1B and sits in the heart of London, where the average property price is £4.375 million, according to analysis by London property brokerage, Jefferies James.
The postcode runs from Piccadilly Circus to Regents Park. It is home to embassies and innumerable blue plaques, and is close to some of central London’s premier attractions..
A stone's throw away from W1B lies the second most expensive postcode in the UK – W1K, which includes the east side of Hyde Park, Grosvenor Square, and parts of Westminster.
The average price of a house in this postcode sits at £3.65 million – a huge sum but one that is more than £700,000 cheaper than W1B’s average.
The third most expensive postcode in London and the UK is in Kensington, a famously wealthy area of London, with properties in the SW1X postcode selling for an average of £2.8 million.
A list of the top 10 most expensive postcodes can be found below:
Swipe to scroll horizontally
#
Postcode
Median property price
Location
1
W1B
£4,375,000
City of Westminster (London)
2
W1K
£3,650,000
City of Westminster
3
SW1X
£2,800,000
Kensington and Chelsea (London)
4
W1J
£2,675,100
City of Westminster
5
SW1H
£2,550,000
City of Westminster
6
SW1E
£2,325,000
City of Westminster
7
EC3A
£2,200,000
City of London (London)
8
EC2M
£2,200,000
City of London
9
WC2R
£2,000,000
City of Westminster
10
EN5
£1,875,000
Hertsmere
Source: Jefferies James, data published 12/03/2025
Damien Jefferies, founder of Jefferies James, said: “London has always led the way when it comes to prime market property values and the city is not only home to the most desirable and expensive properties in the nation, but it’s one of the most attractive for the wealthiest buyers on the global stage.
“Of course, whilst an average sold price north of £4m may be eye-watering to the average buyer, the reality is that the most expensive transactions happening across the prime London market tend to take place behind closed doors.
Such is the influence of the London market, that even when looking at the most expensive postcodes outside of the city, you needn’t look far, with the rest of the nation’s most prestigious postcodes all found within arm’s reach of the capital.”
The most expensive postcodes in the UK outside London
While most people largely associate London with high house prices, many areas outside the capital boast postcodes with average property prices close to or above £1 million.
There is not much geographical diversity in the top ten most expensive postcodes outside London though, as all of them lie in the South of England and are within commuting distance to the capital.
Jefferies argues this is a result of the huge influence of the London property market, saying: “The nation’s most prestigious postcodes can all be found within arm’s reach of the capital.”
The tenth most expensive postcode in the UK, and the most expensive outside London, is EN5 in Hertsmere. This postcode lies just outside the capital (though some of the London borough of Barnet is included), and is enclosed by the M25.
The average property price in the area is £1.875 million.
The second most expensive postcode outside London is HA6, a district in South-West Hertfordshire that lies just to the west of Watford. The most populous town in the area is Rickmansworth.
The average property price in the postcode is £1.22 million, a large sum, though the price trails behind more than twenty of the most expensive postcodes in London.
A list of the ten most expensive postcodes outside London can be found below:
Swipe to scroll horizontally
#
Postcode
Ave (median) price
Location
1
EN5
£1,875,000
Hertsmere (Hertfordshire)
2
HA6
£1,220,000
Three Rivers (Hertfordshire)
3
BR6
£1,155,000
Sevenoaks (Kent)
4
HP9
£950,000
Buckinghamshire
5
SM2
£915,050
Epsom and Ewell (Surrey)
6
GU25
£912,500
Runnymede (Surrey)
7
HA7
£885,000
Hertsmere
8
KT24
£870,000
Guildford (Surrey)
9
KT10
£850,000
Elmbridge (Surrey)
10
KT11
£845,000
Elmbridge
Source: Jefferies James, data published 12/03/2025
The most expensive postcodes in London
As mentioned previously, nine of the ten most expensive postcodes in the UK lie in London, but when extending the list to the top 20, the UK capital continues to dominate.
The Cities of Westminster and London, as well as the borough of Kensington and Chelsea are most prominent in the rankings.
All of the postcodes, with the exception of SM7 in Sutton, are either in central London or just a stone’s throw away.
Here’s a list of the top 20 most expensive postcodes in London:
Swipe to scroll horizontally
#
Postcode
Ave (median) price
Location
1
W1B
£4,375,000
City of Westminster
2
W1K
£3,650,000
City of Westminster
3
SW1X
£2,800,000
Kensington and Chelsea
4
W1J
£2,675,100
City of Westminster
5
SW1H
£2,550,000
City of Westminster
6
SW1E
£2,325,000
City of Westminster
7
EC3A
£2,200,000
City of London
8
EC2M
£2,200,000
City of London
9
WC2R
£2,000,000
City of Westminster
10
W1D
£1,750,000
City of Westminster
11
W1G
£1,630,000
City of Westminster
12
W8
£1,580,000
Kensington and Chelsea
13
SW1Y
£1,560,000
City of Westminster
14
SW7
£1,500,000
Kensington and Chelsea
15
SM7
£1,450,000
Sutton
16
SW1W
£1,450,000
City of Westminster
17
EC2R
£1,440,000
City of London
18
SW3
£1,425,000
Kensington and Chelsea
19
W1U
£1,415,000
City of Westminster
20
SW1A
£1,400,000
City of Westminster
Source: Jefferies James, data published 12/03/2025
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.
Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.
Inheritance tax bills exceed £500,000 for almost 10% of estates
Can gold protect you against inflation?
