Lloyds Bank

THE STREETS OF BELGRAVIA CROWNED MOST EXPENSIVE IN ENGLAND AND WALES

23 December 2017

  • Grosvenor Crescent in London is the nation’s most expensive street with an average price of £16.9m

  • There are six streets with an average house price of over £10m – all in Westminster and Kensington & Chelsea

  • There is now at least one ‘million pound street’ in every region across the UK

     

Grosvenor Crescent, located in the heart of Belgravia between Hyde Park Corner and Belgravia Square, is the most expensive residential street in England and Wales, according to the latest research from Lloyds Bank1. A typical property on Grosvenor Crescent will cost an average of £16,918,000.

Belgravia has long attracted wealthy buyers to the area due to its graceful white stucco residences, sweeping crescents, private garden squares and closeness to all the amenities of closeby Knightsbridge, Pimlico and Chelsea, to create the nation’s wealthiest district - three of the top five most expensive streets are in Belgravia.

The second most expensive street is Ilchester Place in Holland Park, with an average house price of £16,700,000.  Holland Park, in the district of Kensington and Chelsea also has an affluent and fashionable reputation with many large period residencies that attract the rich and famous.

Six streets have price tags over £10 million

The top six most expensive streets are in the prime residential areas of the City of Westminster and Kensington and Chelsea – all with an average price of over £10m and two over £16 million.

Eaton Square, last year’s most expensive street, is now third with an average price of £13,585,000 (down from £17m last year) followed by Chester Square (£12,534,000) - two of the three garden squares built by the Grosvenor family in Belgravia. Carlyle Square (£11,618,000) and Kensington Road (£10,185,000) make up the remaining £10 million plus streets. (See Table 1)

Southern England home to the most expensive addresses

Seven of the top 20 most expensive streets in England and Wales are based in Surrey. Weybridge is home to three – East Road (£5,053,000), West Road (£4,578,000) and Cavendish Road (£3,881,000).  Leatherhead has two – Queens Drive (£4,222,000) and Leys Road (£3,749,000), with the remaining two in Gorse Hill Road, Virginia Water (£3,727,000) and Icklingham Road, Cobham (£3,559,000).

Oxford Town’s Charlbury Road (£4,470,000) and Crick Road (£3,978,000) and Panorama Road in the Sandbanks area of Poole (£2,361,000) complete the top 20.

A million pound street in every region

There is at least one ‘million pound street’ in every region of England and Wales – 73 in total.

Outside of London and the South East, the most expensive streets are in, or close to, Sandbanks in Poole. After Panorama Road, the most expensive street is Bury Road in Canford Cliffs, with an average price of £2,266,000, followed by Sandbanks Road (£2,180,000), Western Avenue (£2,155,000) and Haig Avenue (£2,108,000). Millington Road in Cambridge is the most expensive street in East Anglia (£2,030,000) followed by Storeys Way (£1,881,000).

In northern England, Congleton Road in Alderley Edge is the most expensive street with homes selling, onfor £1,985,000 followed by Park Drive in Altrincham (£1,820,000). In the North East the majority of the most expensive streets are located in Newcastle with Runnymede Road (£1,111,000) and Montagu Avenue (£1,048,000) leading the way.

Whilst in the West Midlands, Roman Road in Sutton Coldfield (£1,481,000) and Widney Manor Road in Sollihull (£1,386,000) are the two priciest addresses. In Wales, St. Annes Close in Swansea takes the top spot with an average price of £1,029,000 followed by Twyncyn in Dinas Powys (£813,000). Fulwith Mill Lane in Harrogate has the most expensive homes in Yorkshire and the Humber (£1,545,000). Warren Hill in Newtown Linford in Leicester is the most expensive street in the East Midlands with an average price of £1,288,000.

Andrew Mason, mortgage products director at Lloyds Bank said:

"The prime London boroughs of Westminster and Kensington and Chelsea continue to reign supreme with Britain’s most expensive streets. Six addresses in the two boroughs come with a price tag of over £10 million with the top two over £16 million.

"As expected, addresses in London and the South East top the list of most expensive places to live, our research shows that all other regions have at least one £1 million street. Away from London, the survey shows that the most expensive streets are tightly clustered within Cheshire, Yorkshire and the Humber and Sandbanks in Dorset on the south coast."

 

REGIONAL Key Findings

North East

The top five most expensive streets in the North East are in Newcastle, mostly in areas such as Gosforth and Ponteland. Runnymede Road (£1,111,000) is the most expensive, followed by Montagu Avenue (£1,048,000), Elmfield Road (£1,012,000), Elmfield Park (£978,000) and Graham Park Road (£953,000).

North West

In the North West, the majority of expensive streets are located in Alderley Edge, Altrincham and Knutsford. Congleton Road in Alderley Edge is the most expensive street with homes selling, on average, for £1,985,000 followed by Park Drive in Altrincham (£1,820,000) and Legh Road in Knutsford (£1,801,000). York Drive (£1,777,000) and East Downs Road (£1,689,000) both in Altrincham, complete the top five.

Yorkshire and the Humber                       

The most expensive streets in Yorkshire and the Humber are mainly in the area that makes up the so-called "Golden Triangle" between Harrogate, Wetherby and north Leeds. The top five most expensive streets in the region are within these areas with three in Harrogate. Fulwith Mill Lane in Harrogate has the most expensive homes in Yorkshire and the Humber (1,545,000). Others include Ling Lane in Leeds (£1,394,000), Linton Lane in Wetherby (£1,350,000) followed by Rutland Drive (£1,208,000) and Queens Road (£1,150,000) – both in Harrogate.

West Midlands

In the West Midlands, Roman Road in Sutton Coldfield (£1,481,000) and Widney Manor Road in Solihull (£1,386,000) are the two priciest addresses. These are followed by Farquhar Road, in Edgbaston (£1,371,000), Luttrell Road (£1,354,000) and Ladywood Road (£1,345,000) - both in Sutton Coldfield.

East Midlands

Warren Hill in Newtown Linford in Leicester is the most expensive street in the East Midlands with an average price of £1,288,000. Three of top 5 most expensive in the region are in Nottingham: Croft Road (£1,250,000), Valley Road (£967,000) and Endsleigh Gardens (£966,000). Caldecott Road in Market Harborough (£1,038,000) completes the top five.

East Anglia

Streets of Cambridge dominate the five most expensive in East Anglia. Most of these streets are close to the main University area in the CB2 and CB3 postal districts. Millington Road in Cambridge is the most expensive street in East Anglia (£2,030,000) followed by Storeys Way (£1,881,000), Mingle Lane (£1,825,000), Barrow Road (£1,730,000) and then Newton Road (£1,710,000).

South East

The region’s most desirable addresses are located in the towns of Weybridge, Oxford and Leatherhead. East Road in Weybridge is the most expensive street outside London with an average price of £5,053,000 followed by West Road (£4,578,000). Charlbury Road (£4,470,000) and Crick Road (£3,978,000) – both Oxford and Leatherhead’s Queens Drive (£4,222,000) complete the top five.

South West

Outside London and the South East, the most expensive streets are in or close to Sandbanks in Poole. After Panorama Road (£2,361,000), the most expensive street is Bury Road in Canford Cliffs (£2,266,000), followed by Sandbanks Road (£2,180,000), Western Avenue (£2,155,000) and Haig Avenue (£2,108,000).

Wales

St. Annes Close in Swansea becomes the only £1 million street in Wales with an average price of £1,029,000). Twyncyn in Dinas Powys is next (£813,000), followed by Mumbles Road in Swansea (£796,000). Cardiff’s Rudry Road (£791,000) and Druidstone Road (£790,000) complete the list.

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