VICTORIA ROAD IN KENSINGTON REIGNS SUPREME AS THE MOST EXPENSIVE RESIDENTIAL STREET IN ENGLAND AND WALES

11 December 2015

  • 12 of the 20 most expensive roads are in the Royal Borough, and the top 50 are all in the south of England
  • There is a £5.5m gap between the most expensive streets in the South East and the rest of the UK
  • There are no million pound streets in Wales and a £7.2m gap between most expensive street in Wales compared to Central London

Around the corner from Kensington Palace, Victoria Road in the heart of Kensington is England's most expensive residential street. Filled with beautiful period properties, Victoria Road ­has an average house price of £8,006,000 according to latest research from Lloyds Bank1. In contrast, the most expensive Welsh street can be found in the capital Cardiff, and with an average house price of £793,000, Druidstone Road is £7.2 million less than Victoria Road in London. [See Table 2]

Kensington and Chelsea dominate the chart

Such is the pull of living in Kensington and Chelsea that 12 streets in the Royal Borough are in the list of the 20 most expensive in the country.  These include Egerton Crescent with an average price of £7,550,000, followed by Manresa Road (£7,359,000), De Vere Gardens (£6,606,000), Drayton Gardens (£5,954,000) and Chelsea Manor Road (£5,523,000).

Other Central London locations featuring prominently in the list of most expensive streets are in Westminster, including Eaton Square (£6,727,000), Chester Street (£5,533,000) and Prince Consort Road (£5,281,000).

Away from these two prime central locations, Parkside in Merton in south west London is amongst the 20 priciest streets with an average price of £6,355,000. Parkside is followed by West Heath Road in Barnet, north London (£5,199,000), and Anhalt Road in Wandsworth (£4,686,000). [See Table 1]

Desirable addresses in southern England

Outside the capital, most of the desirable addresses are in the South East. After Leys Road, Icklingham Road in Cobham in Surrey is the most expensive with an average property price of £3,094,000. The next most expensive in the region is Moles Hill in Leatherhead (£3,085,000), Harebell Hill in Cobham (£3,041,000), Abbots Drive in Virginia Water (£2,937,000), Fishery Road in Maidenhead (£2,821,000) and Wildernesse Avenue in Sevenoaks (£2,167,000).

Poole in Dorset is the only area outside the South East, Sandbanks Road is the most expensive with an average house price of £2,493,000; followed by Western Avenue (£2,433,000) and Haig Avenue (£2,200,000) all of which are in Poole, Dorset.

All Top 50 of the most expensive residential streets in England and Wales are located in southern England – with over half in London (28) and a further 19 in the south east.

Newton Road close to the Cambridge Botanic Gardens is the most expensive street in East Anglia with an average house price of £1,853,000.

But million pound residencies in northern England are not far behind

The most expensive streets outside southern England are concentrated in the area south of Manchester. Such as, Castle Hill in Macclesfield with an average property value of £1,662,000, followed by  Macclesfield Road in Alderley Edge (£1,499,000), Torkington Road in Wilmslow (£1,330,000) and Goughs Lane in Knutsford (£1,299,000).

In the rest of the UK, the most expensive streets not in southern England are Lyndon Road in Oakham in Rutland (£1,363,000), Tiddington Road in Stratford-upon-Avon (£1,349,000), Rutland Drive in Harrogate (£1,191,000) and Graham Park Road in Newcastle (£1,029,000).

Andrew Mason, Mortgages Director at Lloyds Bank, comments:

"The largest concentration of England's most expensive streets is in Kensington and Chelsea. This part of London has always had a glamorous reputation, attracting overseas buyers as well as those from the worlds of business and entertainment. The area clearly has its attractions with excellent schools, designer shops, close proximity to the capital's business district and properties with the highest specifications. 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 away from central areas, where buyers are typically attracted by larger properties and more green space. These areas can be as diverse as Surrey, Cheshire, the ’Golden Triangle’ in Yorkshire and Poole on the south coast."

REGIONAL Key Findings

North East

Seven of the 10 most expensive streets in the North East are in Newcastle, mostly in areas such as Gosforth and Jesmond. Graham Park Road is the most expensive street with an average price of £1,029,000, followed by Osbourne Villas (£713,000), Elmfield Road (£680,000) and Darras Road (£638,000). Outside Newcastle, Potters Bank in Durham (£715,000), Castlereigh in Billingham (£688,000) and Beverley Gardens in North Shields (£635,000) are the most expensive.

North West

The most expensive streets outside southern England are well represented in a small area south of Manchester. Such as, Castle Hill in Macclesfield with an average property value of £1,662,000, followed by  Macclesfield Road in Alderley Edge (£1,499,000), Torkington Road in Wilmslow (£1,330,000), Goughs Lane in Knutsford (£1,299,000), East Downs Road in Altrincham (£1,133,000), Woodbrook Road in Alderley Edge (£1,127,000) and Collar House Drive in Macclesfield (£1,013,000).

Yorkshire and the Humber                      

Streets in the ’Golden Triangle’ between Harrogate, Wetherby and north Leeds tend to be the most expensive in Yorkshire and the Humber. The region's most expensive street is Rutland Drive in the spa town of Harrogate (£1,191,000). Other exclusive addresses include Duchy Road, also in Harrogate, with an average price of £990,000, Bracken Park (£973,000) and Ling Lane (£859,000) - both in Leeds - and Harewod Road (£801,000) in Wetherby. Away from the Golden Triangle the most expensive addresses are Curly Hill in Ilkley (£949,000) and Kemp Road in North Ferriby in Hull (£824,000).

West Midlands

The most expensive streets in the West Midlands are Tiddington Road in Stratford upon Avon (£1,349,000), Westfield Road in Edgbaston in Birmingham (£1,254,000), Church Street (£1,184,000) in Broadway and Lovelace Avenue in Solihull (£993,000).

East Midlands

The most expensive street in this region is Lyndon Road in Oakham in Rutland (£1,363,000), followed by Croft Road (£1,190,000) and Valley Road (£899,000) - both are south of the River Trent in Nottingham. Other desirable residencies include Weston Road in Oakham (£839,000), Main Street in the university town of Loughborough (£803,000) and Belfry Lane in Northampton (£783,000).

East Anglia

Nine of the 10 most expensive streets in East Anglia are in Cambridge. Most of these streets are close to the main University area in the CB2 and CB3 postal districts. The most expensive streets are Newton Road with an average house price of £1,853,000, Barrow Road (£1,702,000), Mingle Lane (£1,285,000) and Coppice Avenue (£1,144,000). Herrings Lane in Kings Lynn (£1,048,000) is the region’s most expensive street not in Cambridge.

South East

Outside of the capital, most of the desirable addresses are in the South East. After Leys Road, Icklingham Road in Cobham in Surrey is the most expensive with an average property price of £3,094,000. The next most expensive in the region is Moles Hill in Leatherhead (£3,085,000), Harebell Hill in Cobham (£3,041,000), Abbots Drive in Virginia Water (£2,937,000) and Fishery Road in Maidenhead (£2,821,000).

South West

In the South West most of the exclusive addresses are along the south coast – with seven of the 10 most expensive streets in Poole in Dorset. These include Sandbanks Road with an average property price of £2,493,000, followed by Western Avenue (£2,433,000) and Haig Avenue (£2,200,000), all of which make it into the top 50 in the UK. The region's other top addresses include Restronguet Point in Truro (£1,897,000), Mudeford in Christchurch (£1,806,000) and Main Road in Salcombe (£1,453,000).

Wales

The most expensive streets in Wales are mostly in Cardiff; they include Druidstone Road (£793,000), Rudry Road (£781,000), Lisvane Road (£548,000) and Llyswen Road (£547,000). Other streets from outside the Welsh capital are Lady Housty Avenue in (£568,000), Cwrt-Y-Vil Road in Penarth (£564,000) and Langland Court Road in Swansea (£550,000).