Prime London stock the oldest in England and Wales

Kensington and Chelsea has the highest proportion of old stock – meaning those homes are likely to cost more to insure, home insurance research has found.

In prime area 63.8% of homes were built before 1900, a higher proportion than every other region of England and Wales. In fact, buildings in Kensington and Chelsea date back to the 16th century, such as the Chelsea Old Church.

Hammersmith and Fulham has the second-highest proportion of 19th-century or older properties. lmost half (49.1%) of all buildings in the region, amounting to over 45,000, were built by 1900. You can date most homes in Hammersmith and Fulham back to the 1850s. This was when the authority developed as a residential district. Many of these homes are now valued in the millions.

Outside of London Gwynedd, a sparsely populated county in Wales, has the highest percentage of pre-1900 homes outside of London, at 44.2% of the total housing stock.

Matthew Harwood, home insurance expert, said: “Older properties often have higher insurance premiums than newer properties. This is because, in general, data shows that older properties are more at risk of issues such as damp and hazards.

“They’re often more expensive to rebuild or repair due to their unique materials too. Buildings insurance covers rebuilding or repairing your home if it’s damaged, so if this is more expensive to do, you can expect to pay a higher premium.

“It’s wise to ensure proper coverage on your home or property. When taking out a home insurance policy, you should declare any issues related to the age of your home and provide accurate rebuild estimates.

“Providing inaccurate or misleading information can invalidate your insurance and mean you’re unable to afford to rebuild your home if it is seriously damaged. It’s a good idea to shop around and find the best deal for you and your home so you have the right coverage at an affordable level.”