Surreal Real Estate Prices: Zoopla.co.uk's 2011 Property Rich List

LONDON, June 6, 2011 -

Zoopla.co.uk has Released its Property Rich List 2011 Which Shows That
Kensington is the Most Expensive Place to Live, While Surrey is Home to the
Highest Number of Property Millionaires Outside the Capital

Britain's Property Rich List 2011, released today by leading
property website Zoopla.co.uk (www.zoopla.co.uk/), reveals Kensington,
London W8, to be by far the most expensive neighbourhood in the country to
live, with average house prices there standing at almost GBP1.75 million.

Britain is now home to 220,131 Property Millionaires, down
from 223,119 this time last year, and has 5,922 Million Pound Streets, where
average house prices are over GBP1 million. London tops the list of places
with the most Million Pound Streets by far with 2,290, followed by commuter
hotspot Guildford with 89 and footballer's paradise, Cobham, in third place
with 78.

The average home for sale (www.zoopla.co.uk/) in
Kensington now costs GBP1,737,862 according to the study by Zoopla.co.uk,
which provides free online value estimates for every home in the UK. And
whilst this is GBP400,000 more than its nearest rival Chelsea, SW3 where the
average pad will set you back GBP1.32m, all of the top five neighbourhoods on
the list boast average property prices of over GBP1m and includes
Knightsbridge, SW7 (GBP1.31m), Notting Hill, W11 (GBP1.17m) and West
Brompton, SW10 (GBP1.05m).

The top 10 most expensive neighbourhoods in the country are
almost entirely in the capital, with the only exception being seventh placed
Virginia Water, Surrey GU25, home to exclusive Wentworth Golf Club, where
average house prices are GBP936,653. And nine out of the top 10 on the list
have seen average house prices fall over the past 12 months, with the only
exception being Hampstead, London NW3.

Topping the list of the most expensive streets in Britain once
again is Kensington Palace Gardens, W8 - also known as Billionaires Row -
where the average property price is a staggering GBP19.2 million. This
exclusive gated street is home to Saudi and Brunei royalty, Russian oligarchs
and Britain's richest man, Lakshmi Mittal, who owns not one but three
properties on the street.

But the eye-watering house prices in Britain's most expensive
neighbourhoods reflect a premium for their location, not necessarily the
space they offer. With the average cost per square foot in Kensington now at
GBP1,193 and the average UK house price (
www.zoopla.co.uk/house-prices/uk/) at GBP205,985, a move to W8 might
provide a fancy address but would only get the average homeowner 173 square
feet, barely enough room to swing a cat.

The most expensive area to live in Britain is Windsor &
Maidenhead where average house prices stand at GBP389,120, just ahead of the
average in London (GBP387,119). Rounding out the top 5 most expensive areas
are Surrey (GBP371,984), Hertfordshire (GBP300,914) and Oxfordshire
(GBP284,402). Whilst more than half of the Property Millionaires in Britain
reside in London, outside the capital the county with the highest number of
Property Millionaires by far is Surrey with over 15,000 currently.

Nick Leeming, Business Development Director, Zoopla.co.uk
said: "Despite the recent property market uncertainty, Brits remain obsessed
with the value of their home as well as those of their neighbours, friends
and family. This year's Property Rich List shows an ever-widening North-South
divide and whilst house prices in some of the most expensive areas of the
country have fallen a little over the past 12 months, they have held up far
better than in many of the less expensive areas."

What GBP1m+ can get you in some of Britain's most expensive
neighbourhoods:

- Kensington (W8) - 3 bed house, Callcott Street, London W8 -
GBP1,800,000 (www.zoopla.co.uk/for-sale/details/14704781)

- Chelsea (SW3) - 3 bed flat, Cadogan Gardens, Chelsea, London
SW3 - GBP1,450,000 (www.zoopla.co.uk/for-sale/details/14438027)

- Knightsbridge (SW7) - 3 bed flat, Stanhope Gardens, London
SW7 - GBP1,300,000 (www.zoopla.co.uk/for-sale/details/14415079)

- Virginia Water, GU25 - 4-bed house, Virginia Water, GU25 -
GBP1,150,000 (www.zoopla.co.uk/for-sale/details/1672454)

            For the full Zoopla.co.uk Property Rich List 2011, please
                                   visit:

                        www.zoopla.co.uk/richlist

About Zoopla.co.uk

Zoopla.co.uk is the UK's most comprehensive property website,
focused on empowering consumers with the resources they need to make
better-informed property decisions. We help our users make sense of the
residential property market by combining property listings with market value
data, local information and community tools.

www.zoopla.co.uk was founded on the principles of
transparency and efficiency and everything we do aims to make the market more
effective for both property consumers and professionals alike. Our mission is
to provide the most useful online property experience by:

- displaying property listings along with value and price
trend information

- providing rich property data and local market information in
one place

- enabling users to search for property in a variety of
customised ways

- allowing users to engage with professionals via our tools
like AskMe!

- building relationships between home owners and local estate
agents

By combining free, instant value estimates for every UK home
with sold prices, local market information and hundreds of thousands of
properties available for sale and to rent, Zoopla.co.uk has become the
ultimate destination for property consumers to search for property and do
their market research. We are the UK's fastest growing property website and
are proud to have been named 'Best Property Portal 2009' (Daily Mail UK
Property Awards).

Our unique features, like AskMe!(TM) and TemptMe!(TM) allow
users to gain an insight into the market and discover information they won't
find anywhere else. And our AskAnAgent feature has rapidly become one of the
most valued sources of vendor leads for UK estate agents. We calculate our
value estimates using a proprietary algorithm (secret formula) that
continuously analyses millions of data points relating to property sales and
home characteristics throughout the UK. Our estimates are constantly refined,
using the most recent data available and a variety of methodologies, in order
to provide the most current information on any home.

Zoopla Ltd is a privately held company with a highly
experienced and proven management team, backed by well-respected angel
investors and leading venture capital firms Atlas Venture (
www.atlasventure.com/) and Octopus Ventures (
www.octopusventures.com/).

For further information, please contact: Lawrence Hall at lawrence.hall at zoopla.co.uk or on
+44(0)20-7620-4618