Santa’s North Pole Property Worth a Cool £1m+
The latest market research by Yopa has valued Santa’s North Pole home at a cool £1,014,970, ranking it at the very top of the UK property market. What is even more impressive is the rate of appreciation that Father Christmas has enjoyed, with annual house price growth far outperforming every region of the UK.
Yopa analysed the estimated value of Santa’s world famous North Pole residence, comparing its annual performance and current market value to the rest of the UK market, to see how it stacks up against one of the strongest property markets in the world.
The research shows that Santa’s North Pole home has increased by 7.5% in value over the last year alone, far above the 2.6% seen across the UK as a whole, with Northern Ireland the only area of the UK coming close to replicating this growth in property values with a 7.1% annual rate of growth.
At its current estimated value of just over £1 million, Santa’s home sits above the average price in almost every area of the UK property market, including the vast majority of prime London boroughs.
In fact, only Kensington and Chelsea (£1,249,415) surpasses the North Pole, while other prestigious postcodes including Westminster (£900,091), Camden (£826,634), Richmond upon Thames (£797,683), Elmbridge (£760,479) and Hammersmith and Fulham (£754,989) all fall short of Santa’s snowy sanctuary where the average price of a home is concerned.
It’s easy to see why Santa’s home commands such a robust price tag even in current, slower market conditions.
Complete with generous outdoor space for reindeer grazing, state of the art workshop facilities, and unrivalled transport connections via sleigh, the property boasts an impressive array of amenities and features that hold strong appeal with the modern-day homebuyer.
The consistent capital growth suggests that, despite challenging climates and tricky access routes, the North Pole remains one of the world’s most resilient and high performing “micro markets”, albeit property availability remains extremely limited.
Verona Frankish, CEO of Yopa, commented:
“Whilst it is fair to say that UK homeowners have enjoyed steady, albeit modest, growth in the value of their own properties this year, Santa has had a far more rewarding time of it.
His North Pole home has posted a rate of appreciation that is quite frankly a Christmas miracle given the wider context of the current market, rising at a pace that leaves even the strongest performing UK regions trailing far behind.
Of course, Santa’s property does come with some rather unique features. A dedicated toy workshop, industrial-scale storage, stables fit for a world-famous reindeer team, and complete privacy at the top of the world would certainly help justify a premium on the open market.
While his North Pole address may not be the most conventional postcode, the value it has amassed puts even the most prestigious prime London postcodes to shame – no wonder he’s so jolly.”
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