The London neighbourhoods with the highest house prices have been revealed with the release of new figures.
House prices vary dramatically across different parts of the city, the figures from the Office for National Statistics (ONS) show.
Unsurprisingly, the top 20 most expensive neighbourhoods in England and Wales can all be found in London, with homes in Knightsbridge, Belgravia and Hyde Park coming out on top, selling for an average of £3.4 million.
It is almost 60 times more expensive to buy a home in this exclusive London community than in County Durham’s Horden, the cheapest part of the country, where the average sale price comes in at just £57,500.
The figures are based on new ONS analysis of HM Land Registry data on prices paid for properties in the year to September 2022.
It is not just the areas of Knightsbridge, Belgravia and Hyde Park that have staggeringly high property prices.
The ONS splits England and Wales into 7,202 small areas, of which 66 have average house prices of at least £1 million. Of these millionaire communities, 89% can be found in the capital.
Nationally, property prices are continuing to rise. Monthly figures published as part of HM Land Registry’s House Price Index show how the market has changed over the last year. Figures for September 2022 show the average property price in England was £307,710, more than £25,000 more expensive than a year before.
How do property prices compare across London? Here we reveal the 20 most expensive neighbourhoods to buy a property.