London’s most expensive streets — where house prices are 72 times UK average

It now prices £20.35 million to purchase a house on the nation’s costliest avenue, virtually 72 occasions the £283,615 common value of a house in remainder of the UK.

However the eye-watering common costs seen on Grosvenor Sq. in Mayfair are nonetheless decrease than costs achieved on earlier 12 months’s priciest streets, in an indication of the decline of tremendous prime property this 12 months.

The extremely unique Mayfair deal with knocked Phillimore Gardens in Kensington off the highest spot in 2023 however it couldn’t beat final 12 months’s table-topping common of £23.8 million, Halifax information confirmed.

The costliest avenue in 2021, Tite Avenue in Chelsea, claimed an much more staggering common value of £28.9 million. This was greater than 105 occasions the nationwide common, indicating the troubles the highest of the market has confronted this 12 months.

Nonetheless, regardless of some hefty value cuts on mega mansions and prime penthouses, London streets nonetheless far outpriced the remainder of the nation with the capital’s elite streets nonetheless attaining costs £10 million or extra larger than their closest regional opponents.

Solely three streets outdoors central west London made the highest 20. These have been Avenue Street and Eyre Street in St John’s Wooden, and Winnington Street in East Finchley.

Kim Kinnaird, Mortgages Director, Halifax stated: “Buying a property on one in all Britain’s costliest streets comes with a colossal price ticket and it’ll be no shock that home costs in London proceed to dominate, with the highest ten priciest streets to purchase a house all within the capital.

“However the hole between the costliest streets is huge, relying on the area you reside in, with the typical home value for the priciest properties in London topping £20million, in comparison with round £1.3m within the North East.”

Due to the comparatively low variety of gross sales on every of those extremely unique streets, Halifax seemed on the five-year common to calculate the costliest. Solely streets the place there have been not less than three transactions have been included.

The second largest sq. in London (after Lincoln’s Inn Fields) was additionally the capital’s second costliest avenue final 12 months. Its common sale value has dropped from £23.5 million in 2022, however the 2.5 hectare inexperienced house in Westminster’s Mayfair rose up the rankings regardless, to assert the highest spot.

The sq. has been residence to British aristocracy because the 1700s earlier than changing into higher recognized within the twentieth century because the US Embassy’s London location.

A younger JFK lived on the sq. when his father was US ambassador to London, whereas Princess Diana’s stepmother, Raine Spencer, lived in a flat at quantity 47 together with her first husband, Gerald Legge, the longer term ninth Earl of Dartmouth.

Final 12 months this beautiful Notting Hill avenue – one of many longest within the postcode – was the fifth costliest with a mean value simply shy of £15 million. A hefty value enhance despatched it taking pictures as much as second place in 2023.

Constructed within the mid-Victorian period, the road went into decline within the early twentieth century earlier than its present transformation into one of the fascinating roads in one of the fascinating postcodes in London.

However Knightsbridge’s gross sales market can be the third priciest in London with the Sweet Brothers’ infamous One Hyde Park growth one in all many tremendous prime property choices on the thoroughfare.

The costliest avenue of 2022 was demoted to fourth place this 12 months after its common value dropped by about £4 million.

Leafy Phillimore Gardens in Kensington is lined with white stucco-fronted interval properties and runs parallel to Holland Park.

Celebrities to have snapped up properties round Holland Park lately embody the Beckhams, Simon Cowell and Robbie Williams.

One other fixture within the prime ten is that this Holland Park avenue of enormous Victorian villas. It’s not a complete idyll, nevertheless. A number of properties are embroiled in ongoing planning battles between neighbours and several other mega mansions sit shrouded in scaffolding.

A gradual circulate of workmen’s vehicles is additional indication of the in depth renovations being undertaken by the extremely rich residents of this west London millionaires’ row.

Weybridge in Surrey was residence to the costliest avenue outdoors the capital – East Street, the place the typical residence prices simply over £9 million.

Within the South West, 5 of the area’s 10 costliest streets have been in Poole in Dorset with Lawrence Drive (£3.99 million) taking prime spot.

Benar Headland in Pwllheli, the costliest avenue in Wales, had a mean value of £1.345 million.