A new prime residential investment postcode heat map has identified the most prestigious and expensive neighbourhoods in London.
Belgravia (SW1 X) ranks as the most expensive for buying property, while W1 D and W1 F, around Soho have the best prices over the long term.
Fitzrovia (W1 T and W) also ranks high, according to research by property invest fund managers London Central Portfolio (LCP).
The research focusses on around 200,000 properties that comprise London’s prime central location, covering 51 post code sectors.
Kensington and Chelsea and Westminster are the key London boroughs covering this area – where homes have an average price label of £1,552,400. Prices have risen an average 10.64% a year over the past 20 years.
The most expensive homes are in Belgravia – an average £4,405,741.
Next comes Knightsbridge, around Ennismore Gardens and Imperial College, where the average home sells for £4,064,674.
Chelsea ranks third with an average home price of £3,448,195.
The lowest price for a prestige home in Central London is £593,600 in the SW1V 3 postcode along the banks of the Thames in Victoria.
Overall, 13 postcodes have prices averaging more than £2 million for home values, 27 are between £1 million and £2 million and 11 are less than £1 million.
The firm also explained strong price growth in these London neighbourhoods reflects that they are in Central London and are best served by transport links, like the Underground, which links to Canary Wharf, the Heathrow Express from Paddington, the Eurostar from Kings Cross and the soon to be completed Cross Rail.
“Although every property needs to be scrutinised on its merits; Fitzrovia, Marylebone and Bayswater are top of our ‘buy’ list,” said CEO Naomi Heaton.
“This new property analysis allows us to further quantify the investment upsides as we seek to build a portfolio of one and two bedroomed properties in the prime postcodes surrounding Hyde Park.”