The Hidden Cost Of London's Most Expensive Postcode

Jack Jones of Investec Specialist Private Bank says 'The London prime market continues to perform strongly. In 2009 there were nine postcodes that had average detached property sale prices of over 2 million, but this increased to twenty a year later'. Similarly, there were eight London postcodes with average semi-detached property price sales of over 3 million compared to only one in 2009.

According to Investec, the priciest postcode in London is the 5 of London W1J, where properties average out at 3.98 million. Each. Now if you happen to be living there at the moment, and planning on selling your home, be prepared to fork out a selling fee of 95,000. (To take some of the sting out of that little fact, though, that ninety-five grand does include VAT.)

Good value? Hardly. And not even if the commission account was to be served on a plate of Beluga Caviar and accompanied by a bottle of Romanee-Conti with a hand painted label by Salvador Dali. Even the most profligate of property owners, the Imelda Marcos's of vendors even, would surely look for a better value alternative than Fuxtons or Shite Frank?

Madonna, Roman Abramovich and Lakshmi Mittal take note.... Online estate agents have arrived to assist in increasing your fortune still further. So the next time you are bored with one of your London palaces and are looking to sell, resist the inevitable temptation to instruct a Julian or a Nigel at great benefit to them and their local BMW showroom/drug dealer.

Turn instead to eMoov if you'd like to save enough in 'hard earned' dollar to spend on something worthwhile instead. Like a trip to Rwanda, orphan gathering. Or on a Chelsea player's losers' bonus or similar. Much better value than a traditional, expensive High Street estate agents fee...don't you agree?

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