London leads eight year high in European corporate real estate sales

Some €14.6 billion in European corporate real estate assets were sold in Europe in 2014, the highest number for eight years, with London leading the growth, new research shows. Over 350 deals were recorded thanks to a continued low interest rate environment and exceptional levels of equity pouring into real estate, according to a new report from JLL. Since 2012 the number of companies raising capital from real estate assets in Europe has been on the increase, coinciding with a period of rising real estate values, the report points out. Indeed, in a separate recent survey from JLL some 40% of respondents reported increasing demands from senior leadership to raise capital through the real estate portfolio. JLL expects this market momentum to continue as businesses take advantage of opportunities to create a property portfolio that better meets their needs whether it’s reusing capital to support business growth, obtaining greater flexibility to aid downsizing or removing unwanted surplus property. ‘Companies are now faced with a once in a cycle opportunity to exploit the best market conditions since 2007. Last year global real estate investment volumes stood at US$710 billion, a level only ever exceeded in the peak of 2007,’ said Michael Evans, head of Corporate Capital Markets at JLL. ‘This momentum has continued into 2015, with an abundance of equity targeting real estate. This presents opportunities for companies with owned real estate to raise capital via sale and leasebacks. Activity has been widespread across Europe involving a range of companies with appetite across a variety of sectors and asset types,’ he added. The report has identified that traditional office and industrial occupiers across pharmaceuticals, energy, manufacturing, IT and telecoms dominated European corporate sales last year, accounting for 38% of activity. Meanwhile hotel operators made up 27% of the sales market followed by retail at 16%. The most notable sales were seen in the media and telecoms sector which included the largest corporate property sale of 2014, sold for €680 million in Paris. In terms of locations, the UK, Germany and France continued to govern the volume of corporate real estate sales, representing 60% of European activity in 2014. This was driven predominantly by the UK, with an 18% year on year increase and almost double the volume achieved in 2008. Spain and the Nordics also featured strongly with 18% of total corporate sales last year. According to Karen Williamson, associate director for EMEA research, with such a compelling market now is the time for companies to rethink their own versus lease decisions. ‘There are a range of solutions available to companies considering raising capital from their owned real estate. Sales can benefit the wider business by allowing capital to be recycled back into the organisation to support growth and expansion,’ she explained. ‘It can also be used to enable financial flexibility and unlock value from assets as part of a planned exit. With the real estate market so buoyant, now is the time for occupiers of property to raise capital or sell off unwanted problems at attractive pricing,’ she added

Property sales in Spain reach three year high

Residential property sales in Spain increased in May to their highest level for three years, according to the latest official figures. But there is an ongoing collapse in new home sales, the data from the National Institute of Statistics (INE) shows. Overall there were 26,455 homes sale in May, up 5% on last year and 11% on the year before that. But a breakdown of the figures shows that the increase came from the resale market, up 34% over 12 months, whilst new home sales fell 42% to just over 6,000. According to Mark Stucklin, of Spanish Property Insight the overall picture is one of a recovery in demand for property in all areas where foreigners tend to buy, but with the market hamstring being a lack of attractive new homes for sale. However this could be about to change. Demand is growing for new homes in Marbella, for example and developers are building again. Land is in high demand and for the first time in almost a decade residential, commercial and tourism projects are under construction and market sentiment is increasingly positive, according to Pia Arrieta, partner at DM Properties Knight Frank Marbella. ‘Genuine interest in good value, good quality, well located plots of land is on the increase. Land prices in Spain climbed 5.2% during the last quarter of 2014 and sales increased significantly compared with the same period in 2013,’ said Arrieta. Arrieta explained that the strong pound is encouraging UK buyers who are considering a broader range of investments, but northern Europeans, particularly those from Scandinavia, the Benelux nations, Germany and Russia are also ranking highly among those choosing to build their dream homes on the Costa del Sol. ‘The demand for land stems from a growing appetite amongst end users’ for turnkey, contemporary products with the latest gadgets and luxuries. Competitive construction costs and the decline in land prices in recent years has spurred developers on,’ she pointed out. ‘Marbella’s accessibility along with continuing investment in the town such as its new boardwalk and the increasing number of top rated restaurants are also encouraging new development,’ she added. According to Knight Frank’s head of sales in Spain Christian de Meillac this upturn in demand has also been replicated in registration figures. ‘In the first half of 2015 Knight Frank has seen a 65% increase in new applicants registering their interest in Marbella compared with the same period last year,’ he said. ‘Buyers are seeing value again. Prices have come down, the exchange rate is favourable and buyers are seeing long term growth potential,’ he added.

Extensions and alterations add £6.5 billion to the value of UK homes

Home owners in the UK have added an estimated £6.5 billion to the value of the country’s housing stock in the 12 months to March 2015, according to new research. Some 220,000 owner occupiers in the UK extended or altered their home in past year, equivalent to one in 74 home owners, the report from international real estate adviser Savills also shows. Based on the assumption that the average extension or alteration adds 10% to the value of the average home, this would create an average uplift of £30,000 per property, the report points out. By contrast mortgaged home movers are still only at half the level they were 10 years ago pre credit crunch, at 358,400 in the year to the end of March 2015, according to data from the Council of Mortgage Lenders (CML). ‘The cost of taking the next step up the housing ladder and the difficulties in acquiring the mortgage finance to do so appear to have encouraged a significant proportion of owner occupiers to extend or alter their existing home,’ said Lucian Cook, head of Savills UK residential research. ‘Changes made by the mortgage market review and increased stamp duty for properties over £1 million are both likely catalysts to home improvements, impeding the rate and volume of transactions in the market,’ he added. The report also suggest that there is a far greater propensity to alter or extend in high value markets. Savills estimates one in 44 home owners did so in London the year to end March 2015, while £3.6 billion of the £6.5 billion was added to the value of housing stock of London and the South East. ‘High value markets have generally been the strongest performers post credit crunch. Extending has therefore been both more financially viable, with owners recouping the money spent on home improvements through house price growth and more attractive given the relative costs of upsizing,’ said Cook. The research also shows that Hammersmith and Fulham and Kensington and Chelsea top the list of local authorities with the highest propensity to extend, both creating an uplift in property values of over £100 million before fixtures and fittings are taken into account. Beyond London, areas such as St Albans, Cambridge, Winsor and Maidenhead and Guildford have all seen significant numbers of home owners extending their home.

It takes almost a year to settle into a home in the UK, survey finds

Most Britons take almost a year to fully settle into a new home with unfinished packing and decorating delaying the process, new research shows. Over half, some 51%, still have unpacking to 304 days after moving and three quarters of slow unpackers admit to being stressed about unfinished unpacking and half of those saying it has caused arguments. One in four have at least one mystery box that remained packed since their last move and non-essential kitchen equipment such as sandwich toasters and cocktail shakers are most likely remain boxed. Kettles, phone and tablet chargers and bathroom essentials are first to be unboxed, according to the research from London removals and storage firm Kiwi Movers. Waiting to decorate is the most common excuse for not unpacking fully and people aged between 30 and 35 most likely to take the task somewhat slowly. The research also found that 75% of those who hadn’t fully unpacked after 10 months of later said that they found having belongings still in boxes stressful, while half of those said the boxes had started to cause arguments. Some 18% of movers said it took them between 12 and 18 months to get things fully organised, while a small minority of seven percent said they still had things in boxes after two years of living somewhere. At the other end of the spectrum, a super organised and motivated 3% claimed to have fully unpacked within a day of moving in, while seven percent said they’d got the job done within a week. The biggest cause for failing to unpack was the need to decorate, with 44% of respondents saying they’d planned to unpack once they’d completed decorating tasks while 31% said the delay in unpacking was due to having insufficient storage, while 12% said they couldn’t agree with their significant other on where to put things. Some 13% blamed themselves, with 7% saying they were too busy to fully unpack and 6% admitting to being too lazy to finish the job and men living on their own are the most likely to have full boxes lying around, with 79% saying they still had unpacking to do by month ten in their new pad. Single women were far less likely to let their belongings gather dust, with just 21% with unpacking after 10 months. Single women were also most likely to get the job done inside week one, with 20% claiming to have successfully found a home for all of their belongings. Regan McMillan, director of Kiwi Movers believes a lot of movers are making their lives unnecessarily hard by packing items they don’t actually need. ‘If a quarter of people are saying they’ve got boxes they never unpacked since their last move, you’ve got to wonder if they really need what’s inside,’ he said. ‘We recommend having a thorough de-clutter prior to moving house so you don’t end up paying to move, then storing or living among items they don’t actually need. In most cases, if you haven’t used it in the last six months, you can most likely do without it,’ he added.

Missing items cause move out misery for UK tenants, research suggests

Tenants in the UK’s private rented sector could lose thousands of pounds due to items that have been detailed in the property inventory going missing at the end of a tenancy, it is claimed. It is a busy time of the year as student tenancies come to an official end and the Association of Independent Inventory Clerks (AIIC) is urging tenants, landlords and letting agents to take extra notice of inventories as tenancies turn over this summer. The Association points to a recent study carried out by removal firm Kiwi Movers which found that 52% of tenants had experienced trouble with their landlord when it came to the return of their deposit at the end of the tenancy. The survey also revealed the most common reasons for lost deposits with items missing from the inventory the reason a fifth of participants did not receive their full deposit back. Other reasons tenants lost all or part of their deposit included minor repairs, cleaning and unpaid bills. ‘Tenants should be issued with a copy of the inventory at the beginning of the tenancy and I urge them all to double check all the items listed at that time and to ensure that all items remain in the property, in good condition, when moving out,’ said Pat Barber, chair of the AIIC. ‘If there is something missing it can often be cheaper for the tenant to replace it rather than for the landlord or agent to do so,’ she pointed out. ‘For letting agents and landlords, it is important to go through the inventory fairly and thoroughly when undertaking the check-out process it is advised that the services of an independent inventory clerk are used to ensure impartiality,’ she explained. ‘If both sides of the rental transaction hold up their side of the bargain, the amount of deposit disputes can be kept to a minimum this summer,’ she added.

Residential property sales up in UK after election slowdown

Residential property sales in the UK increased by 4.7% between May and June 2015 and the seasonally adjusted transaction figure was 3.2% higher compared with the same month last year. he official data from HMRC also shows a total of 104,590 residential and 10,460 non-residential transactions in June. The number of non-adjusted residential transactions was 15.7% higher compared with May 2015 and the number of non-adjusted residential transactions was 5.8% higher than in May 2014. It means that the UK property market is back on track after disruption caused by a wait and see attitude in the run up to May’s general elections, according to Peter Rollings, chief executive officer of Marsh & Parsons. He said that the jump in sales in June has started to make up for any shortfall in the months preceding the general election and the market is seeing growth on an annual basis once again. ‘In London, supply of properties for sale and buyer demand are head to head, squaring up for steady price growth over the rest of the summer. Confidence is returning to the capital once again, particularly in the sector £1 million,’ he explained. ‘Buyer registrations are building as aspiring home owners seize hold of low mortgage rates and other incentive schemes currently available to them,’ he added.

Average UK home values up almost 3% in first half of 2015

The average value of homes across Britain rose by 2.75% during the first six months of 2015, with all regions seeing price growth, according to new figures. At the start of July the average price stood at £270,674, up £6,974 on January’s figure of £263,699, the data from property website Zoopla shows. A breakdown of the data show that although there is general growth the rate of growth varies from region to region. Scotland experienced the highest rate of growth, with an average increase in property values of 6.6% or £11,382, taking the average home value in Scotland to £183,230. The next best performing regions were the North East and North West registering a 3.1% and 3% increase respectively. Wales was the worst performing region for property price increases over the first half of 2015 with an average rise of only 1% or £1,584. Among the 50 largest cities in Britain Edinburgh registered the largest growth in house prices since January 2015 of 8.2%, representing a £20,465 increase in the average home value in the city. Next was Colchester in Essex which saw property prices rise by 7.6% or £19,088, during the six month period, followed by Aberdeen with a 6.4% or £15,416 rise in values. London saw prices rise by only 2.5%, below the national average, but this amounted to a rise of £14,385 because of the higher price of property in the capital city. Yorkshire had three of the 10 worst performing cities for house price growth in the first half with Rotherham seeing a fall of 2.1% or £2,752. Wolverhampton, Newcastle upon Tyne and Middlesbrough also saw a modest drop in average houses over the period. ‘While national property price growth saw a slow start to the first half of the year, it recovered strongly towards the end of the period. The strong regional figures across the board indicate an economy which is returning to health, with a series of Government incentives designed to encourage home buying helping to boost demand for property in all parts of Britain,’ said Lawrence Hall of Zoopla. He explained that the surge in property values in Scotland can, in part, be explained as a post referendum bounce, as businesses and capital flood back to Scotland, after withholding investment during the volatile September referendum period in 2014. ‘A post general election feel good factor must not be discounted as more devolution promised has given property prices a bounce as Scots anticipate more jobs and investment coming their way,’ he added.

New South Wales leads Australian new home building boom

New South Wales has become Australia’s top state for new home building with the state of Western Australia, dropping to second place and Victoria in third. The latest biannual house report from the Housing Industry Associations shows that New South Wales is seeing strong levels of multi-unit dwelling construction and detached homes. ‘The buoyant housing market has played a significant role in elevating New South Wales up the rankings,’ said HIA economist, Geordan Murray, but he warned that the rapid price growth has intensified affordability pressures. ‘Lending figures reaffirm the challenges facing first home buyers. First home buyer lending highlights this as the weak spot in the housing market, and ranked New South Wales as the third weakest jurisdiction on this indicator,’ he explained. The recovery in Queensland continued to gather momentum. The analysis shows the improvements can be attributed to a boost in multi-unit home building. The improvements lifted the state one place up the league table. ‘To maintain the positive momentum we’ll need to see the recovery broaden its base through improvements in detached house building and renovations activity,’ added Murray. He also pointed out that in the post mining boom era, the focus has been on shifting the drivers of economic growth, which would see eastern states gain prominence. The latest Housing Scorecard highlights that it has been residential building that has picked up the first baton and led the charge. Meanwhile, the HIA is warning that increasing the GST property tax on new housing to 15% will add tens of thousands of dollars to new home prices, crushing the dream of home ownership for many Australians. ‘New housing is already weighed down by the burden of tax. It is usually seen as an easy cash grab by governments Adding another 5% or more on top of the price of a new home will put housing out of reach of many people that are trying desperately to get into the market,’ said HIA chief executive for industry policy Graham Wolfe. He pointed out that a 5% increase on a typical house and land package in Sydney, for example, would increase the cost of a mortgage by around $60,000 over the life of the loan. ‘Independent research has demonstrated that the total combined taxes, levies and charges on a new home can be up to 44% of the price of a new house and land package in Sydney. GST currently applies to new housing but not Wolfe. ‘We need more housing stock to accommodate our growing and aging population. Lifting the GST on new housing will dampen new housing activity. Increasing the burden on home buyers should be a no-go area for governments if they are really concerned about housing affordability,’ he added.

Buying beats renting in Aberdeen but it pays to rent in London

Buyers in Aberdeen will be £99,000 better off compared to renters after 7 years

• Dundee, Glasgow, Cambridge and Edinburgh also compelling to buy vs. rent
• Buying in London with a 10% deposit takes 18 years to become more cost effective than renting
• Bournemouth, Huddersfield, Bedford and Swansea also make sense to rent not buy

Aberdeen is the most cost-effective town in Britain for buying property compared to renting. Over a typical seven year period, the average property owner in the Scottish town can expect to be £99,040 better off compared to the equivalent renter, according to research from property website Zoopla.co.uk.
The latest Rent vs. Buy analysis from Zoopla shows that it takes buyers in Aberdeen with a 10% just one year of ownership for buying to become more cost effective than renting. The average property price in Aberdeen is currently £206,060 with average monthly rents at £1,275.
London is currently the most renter-friendly location in Britain. After seven years, a typical London renter would be £82,412 better off than a buyer with a 10% deposit of an equivalent property. It would take 18 years for a London buyer with a 10% deposit to begin to be financially better off compared to the equivalent renter. These calculations are based on a conservative estimate of 4% annual house price growth in the capital.
Bournemouth is the second most renter-friendly town in Britain. With average asking prices of £380,206 and average rents of £1,024 it would take twenty two years for a buyer with a 10% deposit to be better off compared to a renter in an equivalent property. After a seven-year period, a typical renter in Bournemouth would be £30,719 better off than a typical buyer with a 10% deposit.
Lawrence Hall of Zoopla.co.uk comments:: “Despite taking longer to be better off financially, London remains the holy-grail in terms of property investment. It is much more buyer-friendly outside the capital but with rising average prices and low savings rates, accumulating a deposit has become increasingly difficult. It is important to remember that whilst renters may be better off in the short to medium term in some areas of the country, buyers are making a long-term investment. With most buyers opting for mortgage terms of 25 years, over the long term, buyers are likely to be better off compared to those who choose to rent.”
The Zoopla Rent vs. Buy methodology compares all of the costs associated with buying or renting as well as increases in asset or savings value over time. The analysis forecasts the amount of time it will take for buying to become more cost effective than renting across the largest towns and cities in Britain and compares how much buyers or renters are financially better off after the average tenure of a house.

Best locations for buying

Location	Av. Asking Price	Av. Monthly Rent	Amount buyers are better off after 7 years (10% deposit)
Aberdeen	£206,060	£1,275	£99,040
Dundee	£96,103	£653	£54,378
Glasgow	£139,841	£722	£40,971
Cambridge	£337,586	£1,334	£28,878
Edinburgh	£224,000	£948	£32,725
Coventry	£191,833	£849	£33,730
Newcastle	£180,516	£812	£33,726
Manchester	£178,069	£781	£29,751
Milton Keynes	£264,038	£1,066	£25,345
Birmingham	£163,594	£719	£27,171

Source: Zoopla.co.uk (February 2014)

Best location for renting

Location	Av. Asking Price	Av. Monthly Rent	Amount renters are better off after 7 Years (10% deposit)
London	£896,124	£2,619	£82,412
Bournemouth	£380,206	£1,024	£49,082
Huddersfield	£177,119	£561	£7,680
Bedford	£288,598	£959	£7,306
Swansea	£185,373	£631	£204

Source: Zoopla.co.uk (February 2014)

Stamp duty jumps cost sellers over quarter of a billion pounds

 

• £260 million lost by sellers reducing the fair value of their properties
• 37,266 properties undersold to bring prices below stamp duty thresholds
• Sellers of properties in stamp duty “dead-zones” lose £6,990 on average

Stamp duty “dead-zones” have wiped over £260 million off the value of residential properties sold in the England and Wales since April 2012 at an average cost of almost £7,000 to each seller, according to property website Zoopla.co.uk.
Since April 2012, when the last changes were made to the levels of stamp duty charged on the purchase of a residential property, over 37,000 properties have been under-priced in order to avoid costly jumps in stamp duty and make them more attractive to buyers.
In an analysis of property sales since April 2012 , Zoopla found that the number of sales in the price bands immediately before a stamp duty threshold is significantly higher than the level expected, while the number of sales in the price band immediately after a threshold – the stamp duty “dead-zone” – is significantly lower.
Sales volumes vs SDLT price thresholds: £0 - £600k (April 2012 – April 2013)

This trend is particularly prevalent at the £250,000 level. The number of sales in the £250,001 - £265,000 price band was 60% short of the expected volume because over 25,000 sold properties were under-priced to keep them below the stamp duty threshold. At this level, one penny over the £250,000 threshold will add £5,000 to the buyer’s stamp duty bill.
Sellers whose property values fall in a stamp duty “dead-zone” are reducing prices by £6,990 on average. The total amount cut from property prices to keep properties in a lower stamp duty threshold is more than £260m since April 2012.

Lawrence Hall of Zoopla, said:“The current stamp duty system distorts the market and prevents thousands of sellers from achieving the full value of their property when they come to sell. Over the last few years buyer budgets have been squeezed by low savings rates and the high cost of living and this has left buyers less willing to pay the extra stamp duty levied on properties just above stamp duty thresholds.”
“An alternative system which removes the distortions is possible without reducing the revenue received via the Stamp Duty Land Tax. While a graduated system of land tax will mean some buyers pay slightly more than they would in the current system, overall it will make for a fairer approach to taxing property and enable sellers to realise the full value of their home.”
View full analysis and alternative proposal at the Zoopla blog: blog.zoopla.co.uk/2014/03/14/the-stamp-duty-effect

Zoopla to sponsor new homebuilder awards

19th October 2014

Zoopla has today announced that it will become the headline sponsor of the inaugural Buyers’ Choice Homebuilder Awards.
The new awards, which are being run by the creators of the well-established ESTAs, will recognise the best homebuilders in the UK based on research conducted with buyers of new homes in areas including build quality, customer service and value for money.
Similar to the ESTAS, the Buyers’ Choice Homebuilder Awards are designed to reward leading homebuilders and help them to market themselves regionally and nationally.
The inaugural Buyers’ Choice Homebuilder Awards ceremony will take place on Friday 11th September 2015 at the Hilton Hotel Park Lane. The awards will be hosted by Zoopla Brand Ambassador Phil Spencer.
Chris Browne, Head of New Homes at Zoopla said, “We are delighted to be sponsoring the Buyers’ Choice Homebuilder Awards whose objectives are aligned with those of our business to help developers across the UK maximise their business opportunities. These awards will focus on providing valuable customer feedback to developers to help them sell more homes.”
Simon Brown, Founder of the Buyers’ Choice Homebuilder Awards said: "The synergy between our brands and how we work to help developers obtain the most from their business opportunities makes Zoopla the perfect partner for our awards."

Number of UK property millionaires tops half a million

• 524,306 Britons are now property millionaires, up 8.3% on last year
• 10,958 streets in Britain with now have average property values of £1m+
• Kensington & Chelsea takes top 3 most expensive streets prize again

The number of homeowners in Britain whose property is worth £1m or more – making them “property millionaires” – has exceeded half a million for the first time, according to the 2015 Zoopla Property Rich List. The number of property millionaires now stands at 524,306 – an increase of 8.3% on last year’s figure.
The growth in house prices at the top end of the market has helped fuel the increase in the number of streets with average property values of £1m+. There are now 10,958 streets in Britain with average property prices over £1m with 43% located in London. Areas outside the capital with the highest proportion of £1m+ streets are all in Surrey, with Guildford, Leatherhead and Richmond housing 158, 154 and 144 respectively.
At the very top end of the market, the data shows there are now 13 streets in Britain where the average house price is over £10 million – all of which are in London. Kensington Palace Gardens in W8 ranked as the country’s most expensive street overall, with homes there worth £42,591,972 on average, over 150 times the average national property value.
The Boltons in SW10, where a nine-bedroom detached house sold for £51m in April, takes second place, with average property values standing at £30,288,586. Grosvenor Crescent in the exclusive suburb of SW1 rounds out the top three, with an average property price of £22,752,425.
While exclusive London boroughs boast most of Britain’s priciest properties, certain areas of Surrey and Buckinghamshire have also acquired a reputation for very high property values. Virginia Water and Cobham, both in Surrey, top the towns table, with average property prices of £1,208,638 and £1,037,825 respectively. Beaconsfield in Buckinghamshire, where the average property value amounts to £982,660, comes in third.
In terms of postcodes, W8 (Kensington) remains top of the heap, boasting average property prices of £2.77m. Neighbouring SW7 (Knightsbridge), the next most expensive area in the capital, has average values of £2.43m, while property values in third-placed SW3 (Chelsea) stand at £2.24m.
Lawrence Hall of Zoopla, said: “London continues to be the epicentre of the million-pound property market in Britain but the Zoopla Property Rich List reveals a number of high value property areas outside the capital, particularly in Surrey and Buckinghamshire, that are very attractive to professionals seeking to live outside yet within easy reach of the city and enjoy low crime rates coupled with good schools.”

Britain's Top 10 Most Expensive Streets

Rank	Street	Average property value (£)	Annual change (%)
1	Kensington Palace Gardens, London W8	£42,591,972	-0.45%
2	The Boltons, London SW10	£30,288,586	-4.46%
3	Grosvenor Crescent, London SW1X	£22,752,425	-4.12%
4	Courtenay Avenue, London N6	£19,609,231	3.74%
5	Ilchester Place, London W14	£13,718,746	2.53%
6	Compton Avenue, London N6	£12,049,363	4.20%
7	Manresa Road, London SW3	£11,600,920	-5.88%
8	Grosvenor Gardens, London SW1W	£11,321,413	-4.12%
9	Cottesmore Gardens, London W8	£11,037,133	-0.45%
10	Frognal Way, London NW3	£10,702,421	5.42%

Source: Zoopla.co.uk July 2015

Britain's Top 10 Most Expensive Towns

Rank	Town	Average property value (£)	Annual change (%)
1	Virginia Water, Surrey	£1,208,638	1.88%
2	Cobham, Surrey	£1,037,825	5.94%
3	Beaconsfield, Buckinghamshire	£982,660	7.81%
4	Keston, London	£976,354	3.26%
5	Esher, Surrey	£969,337	4.90%
6	Richmond, Surrey	£939,652	0.98%
7	Chalfont St. Giles, Buckinghamshire	£920,797	7.34%
8	Radlett, Hertfordshire	£843,814	6.18%
9	Gerrards Cross, Buckinghamshire	£828,974	2.97%
10	Weybridge, Surrey	£799,828	4.34%

Source: Zoopla.co.uk July 2015

Number of £1m streets by region

Rank	Region	No. of Million Pound Streets
1	London	4735
2	South East England	3697
3	East of England	1350
4	South West England	398
5	North West England	234
6	West Midlands	146
7	Scotland	121
8	East Midlands	104
9	Yorkshire and The Humber	99
10	North East England	53
11	Wales	17
12	Northern Ireland	4
	Total	10,958

Source: Zoopla.co.uk July 2015

London's Top 10 Postcodes by Average Property Value

Rank	Postcode	Average property value (£)	Annual change (%)
1	W8 (Kensington)	£2,771,223	-0.45%
2	SW7 (Knightsbridge)	£2,428,203	-3.65%
3	SW3 (Chelsea)	£2,235,824	-5.45%
4	W11 (Notting Hill)	£1,870,687	-1.55%
5	SW10 (West Brompton)	£1,739,806	-4.46%
6	SW1 (Westminster)	£1,659,792	-4.12%
7	W1 (West End)	£1,541,632	-1.55%
8	NW3 (Hampstead)	£1,452,099	5.42%
9	SW13 (Barnes)	£1,426,357	-4.69%
10	NW8 (St John's Wood)	£1,395,999	4.84%

Source: Zoopla.co.uk July 2015

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