Kensington in west London has come top of a property rich list, where an iPad-sized floor space costs more than £550, a study found today.
House prices in Kensington typically stand at £1.87 million, an increase of 5% or more than £90,000 on a year ago, according to property search website Zoopla.
Kensington is also home to Britain’s most expensive street, Kensington Palace Gardens, where the average home is worth the princely sum of £22.17 million, the study found.
London, which has seen a relatively healthy property market despite the recession with overseas buyers regarding it as a “safe haven” amid the eurozone crisis, dominated the most expensive neighbourhoods list. Knightsbridge, Chelsea, Notting Hill and West Brompton all made the top five.
Researchers found property values in the most well-heeled areas of London are almost 10 times higher than in other parts of the country.
They calculated that an iPad-sized area of floor space measuring 69.45 square inches in Kensington would cost over £550, while the same space in Middlesbrough is worth around £60.
Nicholas Leeming, business development director at Zoopla.co.uk, said: “While the majority of the country’s homeowners reflect on a year of stagnant and falling average house prices, those at the top of the market have had a good run over the past year.
“International demand for prime properties in the nation’s premium postcodes has boosted prices in London and the South East.
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