The most costly neighbourhoods in Britain after 12 months of hovering home costs

House costs within the UK soared to file highs in 2022 – reaching £293,000 on average in September – and have only just begun cooling off.

Coupled with the crippling results of the cost-of-living disaster, many needed to shelve their homeowning desires final 12 months, with gross sales falling 32 p.c in England.

New information from the Office for National Statistics (ONS) has now revealed simply how wide the property value gulf between neighbourhoods has stretched.

Statisticians have divided Britain into 7,201 community-sized chunks referred to as Middle-layer Super Output Areas, sometimes house to round 8,000 folks.

In the most cost effective of those – within the North Sea coastal village of Horden, County Durham – the median value paid for a house was simply £60,000. In one nook of central London, this determine is nearly 70 instances greater.

Bricks and mortar are costlier within the capital than anyplace else within the UK, at £533,687 on average over the year to April 2023.

In some neighbourhoods, nevertheless, potential patrons should fork out a far larger sum. In Knightsbridge, Belgravia & Hyde Park, this got here to £4,095,500 final 12 months – the heftiest invoice within the nation.

Encompassing components of the prosperous London boroughs of Kensington and Chelsea and Westminster, the world is lined with terraced stucco townhouses, worldwide embassies and five-star inns, to not point out luxurious retailers similar to Harrods.

Belgravia alone was previously house to Margaret Thatcher, Lord Halifax, Sir Michael Caine, Nigella Lawson, Jose Mourinho and Sean Connery to call only a few.

All of the highest ten most costly neighbourhoods within the UK had been, in reality, in London. In second place got here Kensington Abingdon – simply south of Holland Park – the place homes went for £2,250,000 on common final 12 months.

This was adopted by Marylebone & Park Lane in Westminster (£2,050,000), Queen’s Gate on the north facet of Hyde Park (£2,030,000) and Hans Town to its south (£1,937,500).

The first non-London space is in twenty seventh place – Gerrards Cross in south Buckinghamshire – the place the median property value was nonetheless a hefty £1,300,000. In whole, 63 MSOAs recorded a determine of £1million or above.