The counties rivalling London’s prestigious housing market
England’s biggest postcode house price premiums
New research from Yopa, the full-service estate agents, reveals that Northumberland, the West Midlands, and County Durham are home to some of England’s biggest postcode house price premiums, beating out competition from a number of the nation’s most luxurious markets including those found in Surrey and Buckinghamshire.
Yopa has analysed the latest sold price data* to identify which postcodes command the biggest house price premiums in relation to their respective wider county’s average house price.
Due to an average house price of more than £2m, it’s no surprise to see that London’s W1 postcode, taking in the likes of Soho and Fitzrovia in the beating heart of the city, is home to the country’s largest house price premium of 260% compared to Greater London’s overall price of £555,625.
But following W1 is the NE20 postcode area located just north of Newcastle-upon-Tyne.
A largely rural postcode area on the fringe of Northumberland National Park, NE20 is home to a number of desirable towns and villages and commands an average sold price of £613,536. This is a postcode premium of 202% compared to the wider Northumberland average of £203,230.
Just to the south of Birmingham, the B94 postcode area is a largely green and picturesque spot featuring sprawling countryside, gorgeous lakes, manor houses and high-end hotels. The average sold price here stands at £662,586 – a postcode premium of 187% compared to the wider West Midlands average of £231,094.
The TS22 postcode area, located just north of Middlesbrough, boasts an average sold price of £381,136, marking a premium of 180% versus the wider County Durham average (£136,182).
Other large postcode premiums are found in CH60 (178% vs wider Merseyside ave), SO42 (171% vs wider Hampshire ave), S17 (164% vs wider S.Yorkshire ave), WA15 (161% vs wider G.Manchester ave), GU25 (155% vs wider Surrey ave), and WA16 (155% vs wider Cheshire ave).
Yopa’s National Franchise Director, Steve Anderson, commented:
“Each and every county has its own pockets and corners where house prices are considerably higher than the norm, but, with the exception of London, the very biggest premiums tend to be found just beyond the suburbs of major cities. Here you find sprawling areas of countryside that offer large properties that are surrounded by quietude and tranquility while still maintaining convenient access to major hubs for work, leisure, and transport connections.
These are real housing market sweet spots that people will pay a hefty premium to be part of, made more expensive still by the common presence of top quality schools. More often than not, the demographic of these high-end postcodes is made up of second-steppers and young families who have made the move away from urban living but aren’t yet ready to live in a truly rural area. Demand is always high in these areas, so when homes come to market, hopeful buyers often face stiff competition which only acts to push the prices up even further.”
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The counties rivalling London’s prestigious housing market
