It’s probably not a job we’d want to take on in the current climate, but there are at least some perks of being Prime Minister. In exchange for dealing with rowdy backbenchers and negotiating Brexit (ok, let’s not go there), you do get to live at a rather famous address – number 10 Downing Street.
But how much is this London landmark actually worth? Well, it’s possible to work it out, based on its rumoured 3,800 square feet of floor space and the average current value of a square foot of property in the SW1 postcode. Totting up the numbers, the bricks and mortar value of No.10 Downing Street is an estimated £5.3m.
However, as we can’t be sure that those floor space rumours are true, and the property being not only famous but off limits for anyone but the PM, the true value is unknown but likely to be much higher.
The housing experts have guesstimated the value by looking at current market data, as well as the average sold price for homes with a Westminster postcode. However, it’s not the only No.10 they have been investigating. Looking at the number across the nation, they reveal where is home to the most expensive ‘Number 10’ home across England and Wales.
Where’s home to the most expensive No.10?
The most expensive No.10 property sold of late was also in London, in Kensington and Chelsea’s Ilchester Place, selling for a staggering £12.8m.
Looking across the nation, the highest average No.10 homes are located in Bedfordshire. With the average sold price for properties in the address with the number, selling for £881,445.
Cheshire ranks second with the average No.10 property fetching £564,250, closely followed by Greater London prices at £515,000 and Surrey averaging at £425,000.
Next on the list is Hertfordshire, where a number 10 property sells for an average of £408,998. Then it’s Buckinghamshire at £374,000, Oxfordshire at £366,500 and West Sussex at £329,975.
The lowest average price paid for a number 10 home is in Barking and Dagenham, at £327,050.
At the other end of the scale, No.10 addresses average an impressive £2.3m in Westminster, £1.9m in Kensington and £1.3m in Camden.
County Durham is home to the most affordable average No.10. Here and in South Yorkshire, a number 10 property will cost you less than £150,000.
‘Who would have thought the average cost of a number ten property could vary by as much as £700,000, across the nation?’ says Michael Stone, Founder and CEO of Stone Real Estate.
‘And sell for as much as £12.8m at the top end of the market? While these are unlikely to be die-hard politics fans, numbers and names can have a big influence on homebuyer decisions. We’ve highlighted before how the number 13 previously suffered with a lower sold price due to buyer superstitions.’
‘You’d be forgiven for thinking recent political events may have had the same impact on the number 10,’ remarks Michael. ‘Although it seems to be more in demand, in some areas than it is in others.’