Almost 80 years after being made famous by a board game, the highest and lowest average house prices of London’s most iconic postcodes remain occupied by Mayfair (£1,426,689) and Old Kent Road (£192,714). However, there has been plenty of movement in the areas in-between.
In 1936, the average value of a London house on a Monopoly board stood at £208, with players of the game purchasing Mayfair properties at £400 and those on Old Kent Road priced at just £60.
77 years on, with the property market in the capital remaining seemingly resistant to the shifts in house prices experienced in the rest of the UK, the average house price in these famous London streets now stands at £788,106.
Whilst there has been no change in the cheapest two areas, or the five most expensive, based on today’s average house prices every other colour category would see at least one change on a modern Monopoly board.
Political Price Rises
Whitehall, which was originally the seventh cheapest area to buy a property, has taken the biggest leap up the table and now, based on average house prices, stands ten places from its original board game position as the sixth most expensive area to buy.
With an average house price of £1,172,778, the heart of British Government would have moved to the top of the yellow areas, just below the ‘green’ giants of Oxford Street (£1,093,960), Bond Street (£1,235,485), and Regent Street (£1,244,476).
Falling From Favour
The greatest drop from its board game position would be experienced by Vine Street which, with an average house price of £399,818, would fall eight places, from 11th to 3rd least expensive, replacing Angel Islington at the bottom of the blues.
Fleet Street would also fall seven places, from 13th to 6th least expensive, with average house prices in the area now standing at £491,902.
Craig McKinlay, Mortgage Director, Halifax told TheMoveChannel.com: “Whilst drawing a comparison between the values placed on these areas in a board game and the actual average house prices provides a light-hearted look at the London property market, it does present a realistic picture of the capital’s most popular postcodes.
“Many of the areas that have seen hypothetical increases from their board game positions are those which we have seen grow in popularity in recent years. Angel Islington is an example of this, surpassing its ‘blue’ peers of Pentonville and Euston Road, by establishing itself as one of the capital’s most cosmopolitan areas.
“The London property market remains one of the most diverse in the UK, with property prices that reflect this. Attracting buyers from both the UK and overseas and commanding premium prices seldom seen elsewhere, the most sought after streets of the capital remain those with excellent schools, upmarket shops and easy access to the City and other business centres.”