Updating Monopoly to today's London house prices
There's been plenty of movement in the last 80 years between Old Kent Road and Mayfair
Alex Johnson has been part of The Independent's online team since 2007. He has been writing about microarchitecture on his internationally-acclaimed Shedworking blog since 2006 and is the author of Shedworking: The Alternative Workplace Revolution. His latest book is Bookshelf, published by Thames & Hudson.
Wednesday 26 June 2013
Almost 80 years after the board game Monopoly came out, the
highest and lowest average house prices are still Mayfair
(£1,426,689) and Old Kent Road (£192,714).
In 1936, the average value of a London house on a Monopoly board was £208, you could get Mayfair property for £400 and a bargain on the Old Kent Road for a mere £60.
But 77 years on, Halifax estimates that the average house price in these famous London streets now stands at £788,106.
Although there has been no change in the cheapest two areas or the five most expensive, based on today's average house prices every other colour category would see at least one change on a modern Monopoly board.
Whitehall - originally the seventh cheapest area to buy a property - has taken the biggest leap up the table and is now ten places from its original board game position as the sixth most expensive area to buy. With an average house price of £1,172,778, it would bem at the top of the yellow areas, just below the ‘green' giants of Oxford Street (£1,093,960), Bond Street (£1,235,485), and Regent Street (£1,244,476).
The greatest drop from its board game position would be Vine Street. Its average house price of £399,818 indicates a fall of eight places, from eleventh to third least expensive, replacing Angel Islington at the bottom of the blues.
Fleet Street would also fall seven places, from 13 to 6, with average house prices in the area now £491,902.
Craig McKinlay, Mortgage Director, Halifax said: "Whilst drawing a comparison between the values placed on these areas in a board game and the actual average house prices provides a light-hearted look at the London property market, it does present a realistic picture of the capital's most popular postcodes.
"Many of the areas that have seen hypothetical increases from their board game positions are those which we have seen grow in popularity in recent years. Angel Islington is an example of this, surpassing its ‘blue' peers of Pentonville and Euston Road, by establishing itself as one of the capital's most cosmopolitan areas.
"The London property market remains one of the most diverse in the UK, with property prices that reflect this. Attracting buyers from both the UK and overseas and commanding premium prices seldom seen elsewhere, the most sought after streets of the capital remain those with excellent schools, upmarket shops and easy access to the City and other business centres."
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