London borough tops home price poll

The London borough of Kensington and Chelsea is home to six out of the 10 most expensive streets in England and Wales, a report has found.
 
  • Kensington and Chelsea boasts six of the 10 most expensive streets in England and Wales
    Last updated: 28 December 2013, 00:10 GMT

    The London borough of Kensington and Chelsea is home to six out of the 10 most expensive streets in England and Wales, a report has found.

    For the second year running, Egerton Crescent in South Kensington was named by Lloyds Bank's report as the country's dearest place to live, with homes there having a typical price tag of just under £7.4 million.

    Located near to the Victoria and Albert Museum (V&A) and Harrods, many properties in Egerton Crescent are Grade II-listed Georgian homes boasting around four or five bedrooms.

    Cadogan Square, Prince Consort Road, Drayton Gardens, Eaton Square and Blenheim Crescent were the other Kensington and Chelsea addresses making up the top 10 list, with homes in all these areas costing around £5 million.

    House price rises in central London have raced ahead of those in the rest of the country as the housing market revival has taken hold in 2013, amid strong interest from wealthy overseas buyers looking for a safe haven to place their cash.

    Recent Office for National Statistics (ONS) figures showed that house prices in London rose by 12% year-on-year in October, pushing the typical house value across the English capital to £437,000.

    The Bishops Avenue in the leafy London area of Hampstead was named as the country's second most expensive street. Dubbed "billionaires' row", the average house price in The Bishops Avenue is a cool £6.2 million.

    Withinlee Road in Macclesfield, Cheshire, was the only street outside southern England to make the top 50 list, with homes there going for almost £1.9 million, putting it at number 48.

    Meanwhile, London made up 19 of the top 20 most expensive streets. Spicers Field in Oxshott, Surrey has the highest average house price outside London, with homes there typically costing £3.5 million. Spicers Field was in 19th place on the list.

    The most expensive street in Wales was named as Gannock Park in Conwy, with an average house price of £655,000, followed by the Cardiff streets of Druidstone Road and Lake Road West. Homes in both these streets in Wales's capital city have values of around £636,000. These are followed by East Cliff in Swansea and Llantrithyd Road in Cowbridge, where homes are typically worth £608,000 and £555,000 respectively.

    Nitesh Patel, an economist at Lloyds Bank, said: "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."

    Lloyds used Land Registry house sales figures between 2008 and 2013 to compile its report. It found that seven out of 10 of the most expensive streets in Yorkshire and the Humber were found to be located in the "golden triangle" between Harrogate, Wetherby and north Leeds.

    The region's most expensive street is Rutland Drive in the spa town of Harrogate, where homes are worth just under £1.2 million on average.

    Six of the 10 most expensive streets in the North East were in Newcastle, particularly in the areas of Gosforth and Ponteland. Graham Park Road in Newcastle was found to be the most expensive street in the region, with homes there worth around £1.1 million.

    Meanwhile, eight of the 10 most expensive streets in East Anglia were in Cambridge. Barrow Road was named as the region's most expensive street, with the average house price sitting just below £1.5 million.

    In the South West, most of the dearest addresses were found along the south coast - with five of the 10 most expensive streets in Poole in Dorset. These include Western Avenue with an average property price of £2.4 million, Brudenell Avenue with a price of around £1.8 million and Chaddesley Glen, where prices are just under £1.5 million.

    The region's other top addresses include Restronguet Point in Truro, with average house prices of £1.7 million, Mudeford in Christchurch where prices are at £1.6 million, North Road in Bristol where they are around £1.2 million and Ilsham Marine Drive in Torquay where prices sit at just under £1.2 million.

    Here are the most expensive streets in England and Wales according to Lloyds Bank, with the street followed by the area it is situated in, the postcode and the average house price:

    1. Egerton Crescent, Kensington and Chelsea, Greater London, SW3, £7,369,000

    2. The Bishops Avenue, Hampstead, Greater London, N2, £6,203,000

    3. Cadogan Square, Kensington and Chelsea, Greater London, SW1X, £5,746,000

    4. Prince Consort Road, Kensington and Chelsea, Greater London, SW7, £5,499,000

    5. Drayton Gardens, Kensington and Chelsea, Greater London, SW10, £5,234,000

    6. Parkside, Merton, Greater London, SW19, £5,212,000

    7. St James's Place, Westminster, Greater London, SW1A, £5,076,000

    8. Eaton Square, Kensington and Chelsea, Greater London, SW1W, £5,042,000

    9. Lancaster Gate, Bayswater, Greater London, W2, £4,873,000

    10. Blenheim Crescent, Kensington and Chelsea, Greater London, W11, £4,800,000

    11. Elgin Crescent, Kensington and Chelsea, Greater London, W11, £4,739,000

    12. Duchess Of Bedfords Walk, Kensington and Chelsea, Greater London, W8, £4,636,000

    13. Lansdowne Road, Kensington and Chelsea, Greater London, W11, £4,350,000

    14. Clabon Mews, Kensington and Chelsea, Greater London, SW1X, £4,220,000

    15. Markham Square, Kensington and Chelsea, Greater London, SW3, £4,187,000

    16. Hyde Park Gardens, Westminster, Greater London, W22, £3,676,000

    17. Paultons Square, Kensington and Chelsea, Greater London, SW3, £3,576,000

    18. Pembroke Gardens, Kensington and Chelsea, Greater London, W86, £3,550,000

    19. Spicers Field, Oxshott, South East, KT22, £3,500,000

    20. Lyall Mews, Kensington and Chelsea, Greater London, SW1X, £3,457,000

    21. Leys Road, Oxshott, South East, KT22, £3,436,000

    22. Icklingham Road, Cobham, South East, KT11, £3,264,000

    23. Harebell Hill, Cobham, South East, KT11, £3,080,000

    24. Blackhills, Esher, South East, KT10, £3,005,000

    25. Moles Hill, Oxshott, South East, KT22, £2,971,000

    26. Eaton Park, Cobham, South East, KT11, £2,732,000

    27. Coombe Hill Road, Kingston Upon Thames, Greater London, KT2, £2,665,000

    28. Martineau Drive, Twickenham, Greater London, TW1, £2,599,000

    29. Loom Lane, Radlett (Hertfordshire), South East, WD7, £2,586,000

    30. Fishery Road, Maidenhead, South East, SL6, £2,562,000

    31. Phillippines Shaw, Sevenoaks, South East, TN14, £2,499,000

    32. Fireball Hill, Ascot, South East, SL5, £2,469,000

    33. Western Avenue, Poole, South West, BH13, £2,427,000

    34. Nuns Walk, Virginia Water, South East, GU25, £2,345,000

    35. Fishers Wood, Ascot, South East, SL5, £2,342,000

    36. Wildernesse Avenue, Sevenoaks, South East, TN15, £2,269,000

    37. Denbigh Gardens, Richmond, Greater London, TW10, £2,244,000

    38. Chargate Close, Walton On Thames, South East, KT12, £2,149,000

    39. Goldrings Road, Leatherhead, South East, KT22, £2,132,000

    40. Brock Way, Virginia Water, South East, GU25, £2,011,000

    41. Burgess Wood Road, Beaconsfield, South East, HP9, £2,007,000

    42. Long Grove, Beaconsfield, South East, HP9, £1,995,000

    43. Linksway, Northwood, Greater London, HA6, £1,963,000

    44. St Peters Road, Twickenham, Greater London, TW1, £1,953,000

    45. Ashley Park Avenue, Walton On Thames, South East, KT12, £1,938,000

    46. Park Avenue North, Harpenden, South East, AL5, £1,936,000

    47. Burstead Close, Cobham, South East, KT11, £1,886,000

    48. Withinlee Road, Macclesfield, North West, SK10, £1,871,000

    49. Water Lane, Cobham, South East, KT11, £1,871,000

    50. Eriswell Crescent, Walton On Thames, South East, KT12, £1,864,000.

    Last updated: 28 December 2013, 00:10 GMT

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