Valuations analysis reveals cheapest and most expensive regions

Analysis of over 120,000 sales valuations has revealed some of the UK's most expensive and cheapest property regions.

Central London's 'W' postcode is the UK's most expensive with an average valuation price of £1,155,015, followed by Kingston's 'KT' postcode with an average of over £550,000.

The analysis was carried out by instant online valuations provider the ValPal Network - which is owned by Angels Media, the publisher of Estate Agent Today.

The network, which works with Thomas Morris and Kings Group and claims to provide valuations to over 18% of the agency market, calculates that the average price in Greater London is £580,280 and that properties in the Home Counties are typically valued at £417,404.

The analysis of hundreds of thousands of national sales valuations requested between March and May places southern Scotland as the UK’s cheapest region with an average property price of £167,244. Motherwell’s ‘ML’ postcode is the cheapest in the UK with an average price of £106,985.

Between March and May, ValPal calculates that the average national property sales value was £282,862 and the average national rental yield was 5.13%.

"The ValPal Network is a unique barometer of the property market, and one that will give the first indications of the property market climate following the election," says ValPal director Craig Vile.

Meanwhile estate agents Your Move and Reeds Rains have released their latest house price index.

The firms report that average house price growth nudged up by 0.3% during May.

According to the index, the average house price in England and Wales was £303,200 last month – representing an increase of £13,934 (4.8%) over the last 12 months.

“The market remains resilient and there’s encouraging activity in the North, but we need to urgently address the serious blockages in house building holding back labour mobility and economic competitiveness in too many areas of the country,” says Oliver Blake, managing director of Your Move and Reeds Rains.