Revealed: The street where average house prices top £8m

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The UK’s most expensive street has been revealed as Victoria Road in Kensington, where average house prices are more than £8m.

Victoria Road is around the corner from Kensington Palace and in fact 12 of the 20 most expensive roads in England and Wales are in the Royal Borough, and the top 50 are all in the south, the study by Lloyds Banking Group reveals.

There are no million pound streets in Wales and a £7.2m gap between most expensive street in Wales compared to Central London and there is a £5.5m gap between the most expensive streets in the South East and the rest of the UK

The most expensive Welsh street is Druidstone Road in the capital Cardiff, and with an average house price of £793,000.

The other streets in Kensington and Chelsea that make the 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).

Beyond London, 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 to feature on this list. Here, 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).

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).

Lloyds Bank mortgages director Andrew Mason says: “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.”