Around the corner from Kensington Palace, Campden Hill Square in the heart of fashionable Holland Park is Britain’s most expensive residential street with an average price of £4,863,000, according to latest research from Lloyds TSB.
Such is the pull of living in Kensington and Chelsea that seven streets in the Royal Borough are in the list of the ten most expensive in the country. These include Drayton Gardens (with an average price of £4,428,000), Dawson Place (£3,891,000), Duchess of Bedfords Walk (£3,862,000) and Cadogan Square (£3,678,000).
Parkside, the most expensive street in last year’s survey, is the second most expensive this year with an average price of £4,826,000. Parkside is one of two streets in Merton in South West London amongst the ten priciest; the other being Cedar Park Gardens (£3,596,000). [See Table 1]
Outside London
The most expensive streets away from the capital are mainly in the Home Counties. Properties on Leys Road in Leatherhead have an average price of £3,108,000 – the highest outside London. Other expensive streets outside Greater London include Moles Hill in Leatherhead (£2,608,000), Nuns Walk in Virginia Water (£2,574,000) and both Phillippines Shaw (£2,352,000) and Wildernesse Avenue (£2,293,000) in Sevenoaks.
Brundenell Avenue in Sandbanks in Dorset has an average house price of £2,024,000 and is the most expensive street outside London and the South East. Sandbanks is well known for commanding premium property prices, with Chaddesley Glen (£1,443,000), Crichel Mount Road (£1,415,000), Elms Avenue (£1,366,000) and Bingham Avenue (£1,310,000) all having an average price above £1 million.
Beyond the South
Outside southern England the most expensive street is Withinlee Road in Prestbury near Macclesfield – where the average house price stands at £1,649,000. Withinlee Road – favoured by footballers – is followed by Macclesfield Road in Alderley Edge (£1,320,000) and Torkington Road (£1,285,000) in Wilmslow. Graham Park Road in Newcastle (£1,228,000) and Quarry Park Road in Stourbridge (£1,070,000) are also amongst the most expensive streets in northern England.
Suren Thiru, Economist at Lloyds TSB, comments:
“The largest concentration of expensive properties is in Kensington and Chelsea. This part of London has always had a glamorous reputation, attracting buyers from the business and entertainment world, and more recently the super-rich from across the world. The area clearly has its attractions with excellent schools, upmarket shops, close proximity to the capital’s business district and impressive properties. 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 well away from central areas, where buyers are typically attracted by larger properties and more green space.”
REGIONAL Key Findings
East Anglia
The most expensive streets in East Anglia are concentrated in Cambridge. All are close to the main University area (particularly around the Botanic Gardens) in the CB2 and CB3 postal districts. The most expensive street is Sedley Taylor Road with an average house price of £ 1,111,000.
East Midlands
Valley Road in the Nottingham suburb of West Bridgford is the most expensive street in the East Midlands with an average price of £823,000. Unlike in other regions, the most expensive streets in the East Midlands are spread around the region in towns such as Northampton (Golf Lane, £795,000), Leicester (Swithland Lane, £675,000) and Belper (Hazelwood Road, £790,000).
North
Seven of the ten most expensive streets in the North are in Newcastle, with many of them in the Jesmond and Gosforth areas. Graham Park Road is the most expensive with an average price of £1,228,000, followed by Oakfield Road (£896,000) and Darras Road (£750,000).
North West
The ten most expensive streets in the North West are all in areas south of Manchester. Withinlee Road in Prestbury is followed by Macclesfield Road in Alderley Edge (£1,320,000) and Torkington Road (£1,285,000) in Wilmslow.
South East
Five of the ten most expensive streets in the South East are in Surrey. Properties on Leys Road in Leatherhead have an average price of £3,108,000 – the highest outside London. Other expensive streets in the region include Moles Hill in Leatherhead (£2,608,000), Nuns Walk in Virginia Water (£2,574,000) and both Phillippines Shaw (£2,352,000) and Wildernesse Avenue (£2,293,000) in Sevenoaks.
South West
Poole has six of the ten most expensive streets in the South West. Brundenell Avenue in Sandbanks in Dorset has an average house price of £2,024,000 and is the most expensive street outside of London and the South East. Sandbanks is well known for commanding premium property prices, with Chaddesley Glen (£1,443,000), Crichel Mount Road (£1,415,000), Elms Avenue (£1,366,000) and Bingham Avenue (£1,310,000) all having an average price above £1 million.
West Midlands
Four of the ten most expensive streets in the West Midlands are in Solihull. The most expensive streets are Quarry Park Road in Solihull (£1,070,000), Rosemary Hill Road in Sutton Coldfield (£990,000) and Alderbrook Road in Solihull (£939,000).
Yorkshire and the Humber
The most expensive streets in Yorkshire and the Humber are all located in the area that makes up the “Golden Triangle” between Harrogate, Wetherby and north Leeds. The region’s most expensive street is Bracken Park in Scarcroft in Leeds with an average price of £934,000, followed by Wigton Lane in Leeds (£840,000) and Orchard Close in York (£800,000).
Wales
The most expensive street in Wales is Druidstone Road in Cardiff with an average house price of £685,000. Eight of the ten most expensive streets in the Principality are in Cardiff and Swansea; the remaining two are Gannock Road in Conwy (£677,000) and Glasllwch Lane in Gwent (£485,000).
