As home prices fall and the real estate market in the UK stumbles, there are a few places where homeowners can still demand a lot for their properties. Forbes.com has a list of the most expensive post codes and the top five are all within London.
SW1X in the exclusive Knightsbridge section of the city leads the list as the most expensive post code of the country. Prices at One Hyde Park and Knightsbridge still command as much as £4,000 per square foot, with homes over the past year selling for an average of £1,870,354. Rounding out the top five post codes are W8, Kensington; W1K North Mayfair; SW1W, Belgravia; and SW3, Chelsea.
Outside of the capital, the most expensive homes are in smaller towns that are within commuting distance of London. GU25, which covers the village of Virginia Water in Surrey, is just a 45 minute train ride from Waterloo Station. This is the most expensive code outside London with property averaging £1.16 million over the past year.
As the economy shifts into recession and prices continue to drop, it will be interesting to see how well these neighborhoods hold their prices in the coming months and year. Many of the London post codes have been buoyed by foreigners with lots of money to spend, but that may change as oil prices continue to fall.
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