The Evening Standard had a rather interesting article today stating the obvious – a study has found the most expensive neighborhood. And surpise! It’s Mayfair!
From the Article:
Analysis of house prices shows that last year the average home in the W1J5 prefixed postcode sold for £3.98 million. Three-bedroom terrace properties went for around £6.7 million as more “ultra-high net worth individuals” moved in.
Famous residents include property tycoon Vincent Tchenguiz – who has about 80 companies registered to a fourth floor office block in Curzon Street – while art dealer Isabella Macpherson and Natasha Madhvani, the daughter of Bollywood actress Mumtaz, also lived there. The W1J area is also home to large numbers of London’s foreign embassies.
Data compiled by Investec Specialist Private Bank shows there are now 20 postcodes in London where detached property prices are more than £2 million, compared with just nine last year.
It’s actually rather sad that central London is becoming a place for Expats and Foreigners to frolic at the expense of locals. These places look quintessentially British, but behind the doors, they’re not. But that’s another article for another day.