Most expensive house purchases by area revealed

Most expensive house sales by area revealed

Last week it was reported that a Regent’s Park mansion is set to be the most expensive house ever sold in London, with offers expected to hit £250m. But until it sells, the latest research by lettings and estate agent, Benham and Reeves, has revealed which property sales ranked top as the most expensive over the last year and how the value of these top of the table transactions differ by region.

Benham and Reeves analysed sold price records from the Land Registry, looking at residential property purchases to have completed in 2022, revealing which ranked top as the most expensive across each area of England and Wales.

London predictably sits top of the table as the region to have seen the most expensive home sold in 2022. A terraced home, No.1 Hyde Park Place in Westminster, sold for a staggering £38.5m in January of last year.

The South East ranks second, with the most expensive sale seen in 2022 being Parkhill, a detached home on East Road in the prestigious gated community of St Georges Hill in Elmbridge. The home sold in May of last year for £16m, quite a sum, but some way off the record set in London.

Cherington Hill House in Stratford-upon-Avon was the most expensive home sold in the West Midlands last year, going for £9.3m, while in the South West, Moonshadow, a detached home in Cornwall, sold for £8.125m.

In the East of England, No.31 Newlands Avenue in Hertsmere topped the table with a sold price of £6.5m.

No.15 South Downs Drive in Hale, Trafford, and No.13 Adderstone Crescent in Newcastle were the most expensive homes sold in the North West and North East, commanding £6m and £5.3m respectively.

In the East Midlands, Normanton Manor in Rushcliffe went for £4.55m, while Douthwaite Hall in Ryedale was the most expensive home sold in Yorkshire and the Humber at £4.125m.
Finally, Shirecombe in the Southgate area of Swansea sold for £2.5m making it the most expensive transaction seen across Wales in 2022.

Director of Benham and Reeves, Marc von Grundherr, commented:

“Despite the rate of house price growth across London trailing the rest of the nation throughout the pandemic property market boom, the region remains home to the highest property values in the land.

The capital is also unrivalled when it comes to the highest sum of money changing hands during a singular property transaction, with even the South East failing to come close in this respect.

It’s also important to note that when it comes to the most expensive homes sold, the Land Registry doesn’t record properties sold by offshore companies, where shares are sold and the sale is therefore not recorded. We had one such sale last year to the tune of £20m on Berkeley Square and so the likelihood is that London’s most expensive house sale even eclipses that of No.1 Hyde Park Place.

Still, it’s fascinating to see how the value paid for the most expensive home in each region differs and doing so really highlights the fragmented nature of the market, with a gap of £36m between London and Wales.

That’s not to say that the homes being purchased are any less impressive and it really does highlight the premium a property will carry, simply because it’s located within London.”