02 Jul Living in… Virginia Water: The first and only £1 million town in the UK
Heady news for the residents of Virginia Water who, according to the latest Zoopla Property Rich List, now live in the first and only town in the UK where average house prices top £1 million.
The property website’s 2013 Rich List also revealed that there are now 323,684 homes across the UK worth £1 million and above, a 32% rise from 2012, suggesting that the top end of the market remains unaffected by austerity measures and on-going economic malaise.
Virginia Water itself has seen a 6% rise in property prices over the pay year according to Zoopla with homes on Portnall Rise, located on the exclusive Wentworth Estate, changing hands for a staggering average of £4.3 million.
Lawrence Hall, of Zoopla said:
“Property values in these super prime areas are astronomically high and have risen substantially in the past year. Only the super wealthy can entertain the notion of living on the most expensive streets and they are paying as much for the address and location as they are for the size and quality of the property.”
James Wyatt, Resident of Virginia Water and Partner of Barton Wyatt, the town’s leading estate agency, commented,
“Having lived in and around Virginia Water all my life, running my business and raising my three children here, I can personally vouch that Virginia Water is and always will be an exceptional place.
“Blessed with good schools, leafy areas for families to enjoy and great links into Central London as well as international airports, this town has everything you need and more with the Wentworth Estate complete with PGA Championship golf courses on your doorstep and true a community feeling.
“But of course, with Virginia Water being such a desirable place to live, this has impacted the local property market, driving prices higher and higher over the years and I’m not surprised to see that it now ranks the first and only town in the UK with the average home costing £1 million or more. Having said that, there are properties in the area which remain affordable, it’s just about knowing where to look.”