Kensington and Chelsea streets ahead with most expensive addresses in England and Wales
28 December 2013
The most expensive residential streets in England and Wales remain in the Royal Borough of Kensington and Chelsea, according to latest research from Lloyds Bank.
Located in South Kensington, surrounded by fashionable boutiques and with the Victoria and Albert Museum just across the road, Egerton Crescent is the nation's dearest address for the second year running with an average property price of £7,369,000. Many of these properties are large grade II listed Georgian homes with 4 to 5 bedrooms.
Six of the ten most expensive streets are in the Royal Borough; such as Cadogan Square with an average property value of £5,746,000, Prince Consort Road (£5,499,000), Drayton Gardens (£5,234,000) and Eaton Square (£5,042,000).
Outside central London, the capital's costliest addresses are The Bishops Avenue in Hampstead which has an average property value of £6,203,000 – the second most expensive in this survey - and Parkside in Merton (£5,212,000) – the sixth priciest street.
Exclusive addresses outside the capital….
The most expensive streets away from the capital are mainly in the Home Counties – and generally in Surrey. Properties on Spicers Field in Oxshott in Surrey have an average price of £3,500,000 – the highest outside London. Others include Leys Road also in Oxshott (£3,436,000), Icklingham Road (£3,264,000) and Harebell Hill (£3,080,000) – both are in the Surrey village of Cobham.
The nation's top 50 most expensive addresses are all in southern England. Apart from those in Surrey, others include Loom Lane in the Hertfordshire village of Radlett (£2,586,000), Philippines Shaw in Sevenoaks (£2,499,000), Western Avenue in Poole (£2,427,000) and Nuns Walk in Virginia Waters (£2,345,000).
Beyond the South
Outside southern England the most expensive street is Withinlee Road in Macclesfield with an average property price of £1,871,000 – the 48th most expensive in this survey. Withinlee Road is followed by Ridgeway in Charnwood in Leicestershire – where the average house price stands at £1,671,000. Other exclusive addresses include The Thorsway in the Wirral with an average property value of £1,584,000, East Downs Road in Altrincham (£1,361,000), Rutland Drive in Harrogate (£1,152,000), Torkington Road in Wilmslow (£1,143,000) and Graham Park Road in Newcastle (£1,126,000).
Nitesh Patel, economist at Lloyds Bank, comments:
"Unsurprisingly, many of the most expensive residential streets in England and Wales are in the Royal Borough of Kensington and Chelsea with more than half of the 20 most expensive London streets in the borough. Kensington and Chelsea has long had a global appeal and in more recent years the area has attracted many ultra-wealthy foreign buyers. Low housing supply also helps support high property values in this area.
"Across most regions, the most expensive streets are tightly clustered within the same area."