London is to become the world’s most expensive address with property prices set to hit £10,000 per square foot.

Research by property agents Beauchamp Estates has found that Knightsbridge remains London’s most expensive address, with top sales achieving values of over £7,000 per sqft. There have been 145 sales in Knightsbridge over the last 12 months with values averaging £2,212 per sqft and sales above £5m averaging £2,714 per sqft. 

At number two is Belgravia where top sales achieve values of £6,500 to £7,000 per sqft. There have been 140 sales in Belgravia over the last 12 months with values averaging £1,690 per sqft. and third in line is Mayfair where top sales achieve values of £5,000 per sqft. There have been 105 sales in Mayfair over the last 12 months with values averaging £2,123 per sqft.

The other three ultra-prime districts were Chelsea with properties sold at  £1,741 per sq ft, Kensington with £1,575 per sqft and St Johns Wood with £1,140 per sqft.

Time to buy that winning lottery ticket....