More London homeowners join golden postcode club

The number of UK postcode areas where property prices average more than £500,000 increased 20% last year to reach 172.

And 21 postcode areas have an average property price of more than £1m, according to new research, which indicates Britain’s most expensive areas are London and Surrey.

New entries to the £1m club include East Sheen in south-west London and Chiswick in west London.

The research by property portal Zoopla examined the average property price in the country's 2,760 postcodes. It concluded average property price across the whole of the UK is £180,000, but that figure rises to £458,000 in London.

The area with the highest average house price is Kensington W8 at £2.65m, while Port Clarence in Teesside is the postcode with the lowest average price of £53,882.

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ITV.com