Dec 29, 2011
Around the corner from Kensington Palace, Campden Hill Square in the heart of fashionable Holland Park is Britain’s most expensive residential street with an average price of £4,863,000, according to latest research from Lloyds TSB.
Kensington and Chelsea proves to be a draw for many given that seven streets in the Royal Borough are in the list of the ten most expensive in the country. These include Drayton Gardens (with an average price of £4,428,000), Dawson Place (£3,891,000), Duchess of Bedfords Walk (£3,862,000) and Cadogan Square (£3,678,000).
Parkside, the most expensive street in last year’s survey, is the second most expensive this year with an average price of £4,826,000. Parkside is one of two streets in Merton in South West London amongst the ten priciest; the other being Cedar Park Gardens (£3,596,000).
The most expensive streets away from the capital are mainly in the Home Counties. Properties on Leys Road in Leatherhead have an average price of £3,108,000 – the highest outside London. Other expensive streets outside Greater London include Moles Hill in Leatherhead (£2,608,000), Nuns Walk in Virginia Water (£2,574,000) and both Phillippines Shaw (£2,352,000) and Wildernesse Avenue (£2,293,000) in Sevenoaks.
Brundenell Avenue in Sandbanks in Dorset has an average house price of £2,024,000 and is the most expensive street outside London and the South East. Sandbanks is well known for commanding premium property prices, with Chaddesley Glen (£1,443,000), Crichel Mount Road (£1,415,000), Elms Avenue (£1,366,000) and Bingham Avenue (£1,310,000) all having an average price above £1 million.
Outside southern England the most expensive street is Withinlee Road in Prestbury near Macclesfield – where the average house price stands at £1,649,000. Withinlee Road – favoured by footballers – is followed by Macclesfield Road in Alderley Edge (£1,320,000) and Torkington Road (£1,285,000) in Wilmslow. Graham Park Road in Newcastle (£1,228,000) and Quarry Park Road in Stourbridge (£1,070,000) are also amongst the most expensive streets in northern England.
Suren Thiru, Economist at Lloyds TSB, comments: “The largest concentration of expensive properties is in Kensington and Chelsea. This part of London has always had a glamorous reputation, attracting buyers from the business and entertainment world, and more recently the super-rich from across the world. The area clearly has its attractions with excellent schools, upmarket shops, close proximity to the capital’s business district and impressive properties. Other areas in the capital have similar qualities but property prices in Kensington and Chelsea tend to outperform the rest of London.
Outside London, the areas with the most expensive streets are generally located well away from central areas, where buyers are typically attracted by larger properties and more green space.”
- Pinter’s square is Britain’s most expensive address (independent.co.uk)
- Millionaires’ Row: The 185 British streets where the average home is £1m-plus (dailymail.co.uk)