Chelsea and Kensington remain the priciest places to buy properties in England, reveals new research from Lloyds Bank.
Victoria Road in the heart of Kensington is England’s most expensive residential street, with an eye-watering average house price of £8,006,000. In contrast, the most expensive Welsh street is Druidstone Road in the capital Cardiff, with an average house price of £793,000 – £7.2 million less.
Chelsea and Kensington have always been associated with prime real estate and wealthy investors, with streets lined with large houses and residents from the worlds of business and showbiz. Designer shops and top schools only add to the exclusive, snobbish feel.
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).
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).
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.
Andrew Mason, Mortgages Director at Lloyds Bank, comments: “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.”
In Scotland, the capital again is a key part of the prime property market, with Edinburgh home to 13 of the country’s 20 most expensive streets. Aberdeen, on the other hand, accounts for four and Glasgow two.
A short walk from the centre of the capital lies Northumberland Street, which has been named Scotland’s most expensive street, with an average house price of a cool £1.3m. Mar Hall Avenue in Bishopton, Renfrewshire is the only street featured in the top 20 list outside of one of the main cities.