New research has identified the UK postcodes with the highest proportion of property transactions exceeding £1 million, with Surrey locations dominating the top rankings.
Cobham in Surrey secured the top position, with nearly half of all property sales completing at prices above £1 million. The analysis, which examined average sold prices in England and Wales, found the typical property in Cobham changes hands for approximately £1.3 million.
Methodology and metrics
The study scored each postcode out of 100 based on multiple factors including average property prices, the proportion of sales exceeding seven figures, household incomes, the number of private schools within a 10-mile radius, and proximity to Michelin-listed restaurants.
Residents in Cobham typically earn annual salaries exceeding £100,000, with 84 private schools located within 10 miles of the area.
Top five locations
Following Cobham, Esher and Virginia Water, both also in Surrey, ranked second and third respectively. Properties in Esher typically sell for just over £1 million, whilst Virginia Water recorded average sales of £1.53 million. Esher features a Michelin-starred restaurant within its vicinity.
Thames Ditton in Surrey and Beaconsfield in Buckinghamshire completed the top five. The median property price in Thames Ditton stands at £867,000, though the area benefits from access to nearly 170 private schools. In Beaconsfield, approximately half of all property transactions exceed £1 million.
The concentration of high-value postcodes in Surrey reflects broader regional property market patterns, with commuter towns within 30 to 40 minutes of central London continuing to attract buyers.
A spokesperson from Trade Door Handles, which conducted the research, noted that £1.5 million typically purchases a two-bedroom flat in central London postcodes, whilst the same budget secures a five- or six-bedroom house with garden and driveway in areas such as Cobham or Virginia Water.
The findings highlight the ongoing appeal of Home Counties locations for buyers seeking larger properties within commuting distance of the capital, whilst affordability pressures in London continue to influence purchasing decisions.