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Kensington in west London has come top of a property rich list, where an iPad-sized floor space costs more than £550.
House prices in Kensington typically stand at £1.87 million, an increase of 5% or more than £90,000 on a year ago, according to property search website Zoopla.
Kensington is also home to Britain's most expensive street, Kensington Palace Gardens, where the average home is worth the princely sum of £22.17 million, the study found.
London, which has seen a relatively healthy property market despite the recession with overseas buyers regarding it as a "safe haven" amid the eurozone crisis, dominated the most expensive neighbourhoods list.
Knightsbridge, Chelsea, Notting Hill and West Brompton all made the top five.
Researchers found property values in the most well-heeled areas of London are almost 10 times higher than in other parts of the country.
Here are Britain's most expensive postcode areas, with their average house price:
1. W8, Kensington, £1,873,866.
2. SW7, Knightsbridge, £1,430,863.
3. SW3, Chelsea, £1,425,385.
4. W11, Notting Hill, £1,302,763.
5. SW10, West Brompton, £1,140,593.
6. NW3, Hampstead, £1,022,748.
7. SW1, Westminster, £1,010,228.
8. W1, West End, £987,191.
9. GU25, Virginia Water,£968,009.
10. SW13, Barnes, £958,871.