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The most expensive postcodes in East London where homes sell for up to £4.7 million

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Homes in East London are selling for millions of pounds and well above the London average, new figures show.

One Tower Hamlets home has been put up for sale online for an astonishing £4,750,000.

The six-bedroom home is located in E1W – the borough’s second-most expensive postcode, according to data from Property Solvers.

According to the property experts, E3 in Tower Hamlets was the most expensive postcode in one of London’s poorest boroughs.

Tower Hamlets is by no means the most expensive London borough for house prices, but it is notably more expensive than neighbouring Newham, Barking and Dagenham.

Figures show that the average asking price for a home in E3 in the last year was £821,624 – hundreds of thousands of pounds more than the London house price of £699,433, according to property website Zoopla.

This £1.7 million five-bed home costs more than three times the Tower Hamlets average

The most expensive home in E3 listed on Zoopla costs a whopping £4,600,000 – more than five times the postcode average.

Dozens of other properties in the area are being offered for millions of pounds.

A five-bedroom house near Bow Road is listed on Zoopla for £1.7 million – more than double the average price in E3 and over three times the average Tower Hamlets price of £558,021.

E1W, on the western side of Tower Hamlets, had an average asking price of £813,121 between October 2020 and October 2021, but an average sale price of £792,890.

House prices are notably lower elsewhere in the borough, though still often far higher than the London average.

Homes in E1 – which includes Whitechapel and Stepney Green – have an average asking price £619,330.

House prices rose across the UK during the coronavirus pandemic, pushed up by the stamp duty holiday which encouraged people to buy new homes.

Although London home prices have lowered in recent months, they remain high and far more expensive than the rest of the UK.

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https://www.mylondon.news/news/east-london-news/most-expensive-postcodes-east-london-21943281