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Home Press releasesProperty marketLondon’s prime property hotspots revealed, with an average sold price of £6.225m

London’s prime property hotspots revealed, with an average sold price of £6.225m

London’s prime property hotspots revealed, with an average sold price of £6.225mThe latest research by London lettings and estate agent, Benham and Reeves, has revealed which prime London postcodes are currently seeing the highest levels of market activity, as well as the postcodes commanding the highest price amongst the capital’s high-end homebuyers, with one Westminster postcode topping the table with an average sold price of £6.m over the last year.

Benham and Reeves analysed sold price records from the Land Registry, looking at properties to have sold at £2m or more across the prime London market in 2024.*

The research shows that across the prime London market as a whole, some 1,591 homes sold for £2m or more in 2024, with an average sold price of £2.75m – 438% more than the wider London average.

Most in-demand postcode
When it comes to the sheer level of market activity seen over the last year, the SW6 postcode has proved to be the hottest pocket of the prime London property market. The Fulham postcode saw some 102 homes sold over the course of 2024 at £2m or more, with the Chelsea postcode of SW3 ranking second with 78 transactions, followed by Barnet’s NW3 postcode with 68 homes sold.

Highest average sold price
The highest average sold price across all prime London postcodes over the last year is found within the W1B postcode – which runs from Regents Park to Oxford Circus and Piccadilly Circus. Last year, property sales in the postcode averaged £6.225m.

The WC2H postcode, which straddles Camden and Westminster, was home to the second highest average sold price for homes priced at £2m or more, coming in at £5.19m in 2024.

The SW1W postcode of Westminster ranks third with an average sold price of £4.545m.

Highest prime postcode premium
However, when it comes to the highest prime London postcode price premium, the E1 postcode of Tower Hamlets tops the table – which includes the city fringe and areas such as Aldgate. Whilst the average sold price for transactions at £2m or more over the last year sits at just £3.38m, this is some 648% higher than the average price across the wider borough of Tower Hamlets.

Director of Benham and Reeves, Marc von Grundherr, commented

“Much has been made of the decline in demand for prime London properties but with over 1,500 transactions taking place for £2m or more over the last year, it’s clear that high-end homebuyers still view the capital as a worthwhile investment.

It’s also interesting to see that whilst the traditional prime heartlands remain the go to for many buyers, there are prime transactions taking place the length and breadth of the capital, with homes selling for £2m or more across the likes of Bromley, Croydon, Havering and Ealing.
This demonstrates that, whilst the pandemic is thankfully firmly behind us, prime London buyers are continuing to look to the peripherals of the capital in search of larger homes and a greater abundance of outdoor and green space.”

Prime London postcode transaction levels and sold prices for properties sold at £2m or more in 2024
Outcode Outcode – Ave (median) price £2m plus Outcode – count £2m plus Primary Wider Borough Primary Wider Borough Average House Price Prime Postcode Premium versus Primary Wider Borough
LONDON £2,750,000 1,591 – £511,279 438%
W1B £6,225,000 4 City of Westminster £865,858 619%
WC2H £5,910,000 1 Camden £815,772 624%
SW1W £4,544,936 20 City of Westminster £865,858 425%
W1J £4,500,000 15 City of Westminster £865,858 420%
W1W £4,465,000 5 City of Westminster £865,858 416%
SW1H £4,400,000 7 City of Westminster £865,858 408%
EC1R £4,300,000 1 Islington £642,751 569%
NW1 £4,200,000 22 Camden £815,772 415%
SW10 £4,050,000 21 Hammersmith and Fulham £711,657 469%
W1F £4,000,000 2 City of Westminster £865,858 362%
W1K £3,950,000 11 City of Westminster £865,858 356%
W8 £3,950,000 67 Kensington and Chelsea £1,070,283 269%
SW1X £3,850,000 37 City of Westminster £865,858 345%
NW8 £3,800,000 52 Camden £815,772 366%
W11 £3,572,500 40 City of Westminster £865,858 313%
E1 £3,537,500 2 Tower Hamlets £472,406 649%
EC1M £3,525,000 2 Islington £642,751 448%
SW3 £3,460,000 78 Kensington and Chelsea £1,070,283 223%
SW1E £3,400,000 7 City of Westminster £865,858 293%
WC1N £3,350,000 3 Camden £815,772 311%
TW10 £3,300,000 21 Richmond upon Thames £744,732 343%
BR6 £3,217,500 4 Bromley £508,954 532%
N6 £3,200,000 15 Camden £815,772 292%
W1G £3,200,000 10 City of Westminster £865,858 270%
W2 £3,162,688 40 City of Westminster £865,858 265%
SW18 £3,087,500 20 Wandsworth £598,912 416%
BR7 £3,062,500 6 Bromley £508,954 502%
NW3 £3,000,000 68 Barnet £592,678 406%
N2 £3,000,000 27 Barnet £592,678 406%
EN4 £2,977,500 8 Barnet £592,678 402%
TW2 £2,975,000 1 Richmond upon Thames £744,732 299%
W14 £2,974,975 20 Hammersmith and Fulham £711,657 318%
SW19 £2,960,000 42 Merton £570,583 419%
SW13 £2,950,000 37 Richmond upon Thames £744,732 296%
SW7 £2,935,500 52 City of Westminster £865,858 239%
N21 £2,915,000 2 Enfield £452,341 544%
E8 £2,892,500 6 Hackney £588,315 392%
TW9 £2,875,000 8 Richmond upon Thames £744,732 286%
W6 £2,850,000 21 Hammersmith and Fulham £711,657 300%
W10 £2,850,000 7 Kensington and Chelsea £1,070,283 166%
SE21 £2,804,250 12 Lambeth £528,392 431%
SW20 £2,800,000 10 Merton £570,583 391%
SW1Y £2,800,000 1 City of Westminster £865,858 223%
TW11 £2,750,000 7 Richmond upon Thames £744,732 269%
SE1 £2,725,000 10 Lambeth £528,392 416%
SW15 £2,725,000 20 Wandsworth £598,912 355%
E14 £2,700,000 1 Tower Hamlets £472,406 472%
W5 £2,700,000 21 Ealing £541,772 398%
NW11 £2,700,000 23 Barnet £592,678 356%
W1H £2,700,000 20 City of Westminster £865,858 212%
SE23 £2,697,000 3 Lewisham £463,038 482%
BR2 £2,650,000 7 Bromley £508,954 421%
NW10 £2,650,000 8 Brent £545,671 386%
N1C £2,650,000 1 Camden £815,772 225%
SE19 £2,632,500 2 Bromley £508,954 417%
W9 £2,632,500 16 City of Westminster £865,858 204%
W1U £2,625,000 19 City of Westminster £865,858 203%
SE10 £2,600,000 1 Greenwich £458,257 467%
BR1 £2,600,000 5 Bromley £508,954 411%
SW9 £2,600,000 1 Lambeth £528,392 392%
SW4 £2,593,750 20 Lambeth £528,392 391%
NW6 £2,587,500 44 Brent £545,671 374%
SW6 £2,585,000 102 Hammersmith and Fulham £711,657 263%
SW1V £2,572,500 14 City of Westminster £865,858 197%
SE4 £2,570,000 1 Lewisham £463,038 455%
N20 2,562,500 8 Barnet 592,678 332%
BR3 2,550,000 2 Bromley 508,954 401%
NW2 2,550,000 7 Barnet 592,678 330%
N12 2,525,000 2 Barnet 592,678 326%
TW1 2,512,626 18 Richmond upon Thames 744,732 237%
BR5 2,500,000 1 Bromley 508,954 391%
W4 2,500,000 33 Ealing 541,772 361%
KT2 2,500,000 9 Kingston upon Thames 546,261 358%
N1 2,500,000 45 Hackney 588,315 325%
N5 2,500,000 9 Islington 642,751 289%
W12 2,500,000 7 Hammersmith and Fulham 711,657 251%
SW5 2,500,000 13 Kensington and Chelsea 1,070,283 134%
N19 2,480,000 5 Islington 642,751 286%
SW1A 2,480,000 1 City of Westminster 865,858 186%
SE22 2,475,000 10 Southwark 501,652 393%
W13 2,475,000 4 Ealing 541,772 357%
HA7 2,462,500 2 Harrow 526,155 368%
EC2A 2,450,000 1 Hackney 588,315 316%
SW17 2,450,000 12 Wandsworth 598,912 309%
EC1Y 2,450,000 1 Islington 642,751 281%
E18 2,425,000 1 Redbridge 498,762 386%
IG8 2,400,000 1 Redbridge 498,762 381%
SW11 2,375,000 43 Wandsworth 598,912 297%
SW16 2,362,500 4 Lambeth 528,392 347%
CR8 2,350,000 1 Croydon 403,054 483%
SE3 2,350,000 11 Greenwich 458,257 413%
SW8 £2,350,000 5 Lambeth £528,392 345%
SW12 £2,350,000 13 Wandsworth £598,912 292%
HA5 £2,345,000 1 Harrow £526,155 346%
EC1V £2,325,000 5 Hackney £588,315 295%
WC2N £2,320,000 2 City of Westminster £865,858 168%
W1T £2,312,500 6 Camden £815,772 183%
HA6 £2,310,000 6 Hillingdon £465,231 397%
WC2E £2,310,000 1 City of Westminster £865,858 167%
EN5 £2,307,500 2 Barnet £592,678 289%
SW2 £2,300,000 4 Lambeth £528,392 335%
KT3 £2,300,000 3 Kingston upon Thames £546,261 321%
N10 £2,300,000 13 Haringey £573,982 301%
EC2Y £2,300,000 3 City of London £670,906 243%
EC1A £2,300,000 1 City of London £670,906 243%
KT6 £2,287,500 2 Kingston upon Thames £546,261 319%
NW7 £2,287,500 8 Barnet £592,678 286%
SE24 £2,260,000 7 Lambeth £528,392 328%
N16 £2,237,500 8 Hackney £588,315 280%
SW14 £2,225,000 10 Richmond upon Thames £744,732 199%
WC2B £2,225,000 3 Camden £815,772 173%
E9 £2,200,000 5 Hackney £588,315 274%
N3 £2,200,000 3 Barnet £592,678 271%
EC2M £2,200,000 1 City of London £670,906 228%
TW12 £2,200,000 3 Richmond upon Thames £744,732 195%
NW5 £2,200,000 11 Camden £815,772 170%
WC1B £2,200,000 1 Camden £815,772 170%
W3 £2,191,250 2 Ealing £541,772 304%
N8 £2,187,500 6 Haringey £573,982 281%
WC2R £2,175,000 2 City of Westminster £865,858 151%
N22 £2,172,500 2 Haringey £573,982 278%
SW1P £2,165,000 3 City of Westminster £865,858 150%
RM14 £2,125,000 2 Havering £423,269 402%
N7 £2,125,000 4 Islington £642,751 231%
RM2 £2,120,000 1 Havering £423,269 401%
E11 £2,110,000 3 Redbridge £498,762 323%
SM2 £2,105,000 2 Sutton £445,386 373%
E5 £2,025,000 1 Hackney £588,315 244%
SE5 £2,012,500 2 Lambeth £528,392 281%
RM11 £2,000,000 1 Havering £423,269 373%
N4 £2,000,000 1 Haringey £573,982 248%
Data sourced from the Land Registry Price Paid data set, looking at primary property transactions (PPD Category A) to
have completed across London between January and December 2024, excluding those listed by property type as ‘other’.
Postcode premiums versus wider borough property values based on price paid postcode data versus the wider borough
average house price sourced from the Gov UK House Price Index.
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About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents. With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 21 prominently located branches and 14 international offices.

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