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£1.1m price tag for cheapest road on the Monopoly board

With its brown hue and bargain rents Old Kent Road was the undisputed runt of the Monopoly board. Alongside Whitechapel Road, it was the cheapest land available to players at a cost of £60 when the game launched in Britain in the 1930s.

But fast forward to 2021 and buyers would need more than £1 million to purchase in the area.

The average asking price for the Old Kent Road postcode – a thoroughfare between Elephant and Castle and New Cross in south-east London – sits at £1,181,577, according to property website Zoopla, and real-life renters pay an average of £2,574 per month. A far cry from the £10 coughed up by Monopoly players to rent a house on the road. 

Average house prices in London are the most expensive in the country and sat at £492,000 in April, according to official figures from the Office for National Statistics. 

Property prices on Whitechapel Road, which shares the cheapest spot with Old Kent Road on the Monopoly board, are almost 50pc more expensive than the capital’s average.

Average asking price for this postcode in east London currently sit at £730,284 and tenants pay an average of £1,955 per month, according to Zoopla. 

Since lockdown restrictions began to ease, London has recorded the biggest uptick in sales activity of any region in the UK.

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