Which areas rank as the most valuable in UK?

Author: MARC DA SILVA

Original Source: https://propertyindustryeye.com/which-areas-rank-as-the-most-valuable-in-uk/

GetAgent has analysed estimated dwelling stock figures from Gov.uk and the current average house price by local authority to see which areas are the most valuable from a property point of view, and found that Kensington and Chelsea is unsurprisingly the UK’s most expensive pocket of the property market for property prices.

But Kensington and Chelsea ranks second when it comes to the most valuable area, beaten by the City of Westminster. With 125,312 estimated dwellings worth an average of £963,725, the property market in the London borough is a worth £120.766bn today, based on the research.

Kensington and Chelsea is not far behind with 87,726 dwellings worth an average of £1.368m each and a total market value of £120.037bn.

Wandsworth (£91.319bn) and Camden (£85.754bn) rank as the next most valuable pockets of the UK property market, with Barnet, Lambeth and Islington also making the top 10 for the capital.

Birmingham is the most valuable property market outside of London and the fifth most valuable across the UK as a whole. With 441,536 properties and an average house price of £189,988, the city is home to a property market worth £83.886bn.

Edinburgh ranks as the ninth most valuable in the UK and the second most valuable outside of London with the property market worth an estimated £70.594bn.

Leeds also makes the top 10 most valuable markets in the UK (£69.062bn), with Cornwall, Wiltshire, Bristol, Bournemouth Christchurch and Poole, Brighton and Hove, Glasgow, Manchester and Sheffield ranking as some of the most valuable property markets outside of London.

Colby Short, founder and CEO of GetAgent.co.uk, said: “We’re used to hearing about how expensive certain parts of the UK property market are but when you consider price in relation to the volume of housing stock, it really highlights how valuable the UK property market is as a whole.

“With prices continuing to climb as a result of a stamp duty holiday saving we should see the UK property market grow even further in value over the coming months. While some areas will always command a higher price tag, they will also continue to play second fiddle to those with a greater abundance of stock where overall value is concerned.”

Table shows the estimated level of dwellings, the average house price and the total estimated value of each market
LocationEstimated dwelling stockAverage house price (latest Aug 2020)Estimated total value of market
London3,592,322£489,159£1,757,216,780,826
South East3,943,537£332,147£1,309,833,883,888
East of England2,705,425£296,411£801,918,222,833
South West2,579,210£264,886£683,197,271,756
North West3,300,088£173,617£572,951,697,992
West Midlands Region2,512,503£204,886£514,776,847,799
East Midlands2,103,080£202,345£425,546,694,836
Yorkshire and The Humber2,440,528£170,025£414,951,928,058
Scotland2,605,000£155,191£404,272,521,135
Wales1,437,567£172,828£248,451,236,415
North East1,236,808£131,701£162,888,280,473
Northern Ireland807,812£141,131£114,006,949,514
United Kingdom29,263,879£239,196£6,999,802,355,431
Table shows the top 10 most valuable areas of the UK property market based on total estimated value
LocationEstimated dwelling stockAverage house price (latest Aug 2020)Estimated total value of market
City of Westminster125,312£963,725£120,766,328,729
Kensington and Chelsea87,726£1,368,318£120,037,023,023
Wandsworth148,075£616,711£91,319,484,287
Camden105,598£812,080£85,753,980,788
Birmingham441,536£189,988£83,886,337,843
Barnet152,946£522,846£79,966,944,029
Lambeth141,507£546,470£77,329,305,229
Islington103,740£736,991£76,455,489,122
City of Edinburgh248,000£284,654£70,594,202,738
Leeds350,524£197,026£69,062,492,419
Table shows the top 10 most valuable areas of the UK property market exc London based on total estimated value
LocationEstimated dwelling stockAverage house price (latest Aug 2020)Estimated total value of market
Birmingham441,536£189,988£83,886,337,843
City of Edinburgh248,000£284,654£70,594,202,738
Leeds350,524£197,026£69,062,492,419
Cornwall280,474£241,851£67,832,946,319
City of Bristol200,614£298,531£59,889,574,348
Bournemouth, Christchurch and Poole183,759£292,811£53,806,678,196
Brighton and Hove127,981£379,045£48,510,495,818
City of Glasgow310,000£142,690£44,233,878,145
Manchester226,995£188,922£42,884,274,686
Sheffield248,804£169,464£42,163,396,518