London tops list of postcodes with property prices of more than £1m

Credit: Jonathan Brady/PA Wire

Homes in 21 areas of Britain changed hands for more than £1m and in 172 districts, average property prices passed £500,000, according to new research commissioned by The Sunday Times.

Almost all the areas where the average house price is more than £1m are in London, apart from Guildford and Surrey. Both areas joined the £1m club for the first time, alongside East Sheen in southwest London and Chiswick in west London.

The number of regions where prices now average more than half a million pounds increased by 20 per cent from last year, with 34 new districts making the grade - most of the new entries are also in London.

Property website Zoopla carried out the research, comparing the average property price in the country's 2,760 postcodes.

The average property price across the whole of the UK is £180,000, but the average in London is £458,000.

The area with the highest average house price is Kensington W8 - £2.65m. The postcode with the lowest average price is Port Clarence in Teesside - £53,882.

For a list of the ten areas that experienced the biggest percentage rise in value between March 2014 and March 2015, see below:

  • Keston, Shortlands, BR2 - 13 per cent

  • Highgate, Hampstead Heath, N6 - 12.89 per cent

  • Beckenham, Elmers End, BR3 - 12.85 per cent

  • Bromley, Bickley, BR1 - 12.78 per cent

  • Buckhurst Hill, Essex, IG9 - 12.42 per cent

  • Wood Green, Bowes Park, N22 - 12.39 per cent

  • Morden, SM4 - 12.32 per cent

  • Orpington, Farnborough - 12.29 per cent

  • Wallington, Beddington - 11.89 per cent

  • Gants Hill, Newbury Park (Essex), IG2 - 11.79 per cent