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Would you buy a house on the UK’s most expensive street?

By Vin Parmar on in Industry News

Would you buy a house on the UK’s most expensive street?

The average cost of a house on the UK’s most expensive street costs £35m. Prices are down £2,569,432 compared to this time last year, due to the uncertainty of Brexit and the increased tax on homes with a high value.

According to Zoopla, there are 14,417 streets in the UK which have an average property value of £1m or more, which is up from 2016 when it was 12,418.

Nationwide reported that for the first time in eight years London property prices had fallen. They also found that across the country prices grew at their slowest since 2013.

Any recent falls hasn’t made a dent to London being the most expensive region in the country.

It has been revealed that Kensington Palace Gardens in West London is topping the list of the UK’s most expensive street. On this exclusive road, the average cost of a property which overlooks the official royal residence of the Duke and Duchess of Cambridge, is at an extravagant price of £35,696,711.

The rise of millionaires’ rows means those who don’t have royalty as neighbours may also be living near some of the most expensive roads outside of London itself, like Roundhay Park Lane, in Leeds, Broadway in Altrincham and Lovelace Avenue, In Solihull, which are at the top spots in their regions.

The second most costly street is Grosvenor Crescent, which sits between Hyde Park Corner and Belgrave Square – it has an average cost of £21,984,033. Flats in this area are being put on the market for more than £10m.

In third, and also down from second place last year is The Boltons, in Chelsea, with a property value around £19,858,239.

According to Zoopla, 94.2 per cent of the majority of £1m plus streets are in southern England.

Out of the 14,417 of £1m streets in Britain, 5,899 are based in Greater London, 109 are in Scotland and 11 in Wales. The largest number of millionaire rows is in Guildford in Surrey – with 204 streets which have the average value of over £1m.

Lawrence Hall, spokesman for Zoopla, said: “Despite London’s property market cooling over the past year, it’s no surprise that the capital’s most exclusive boroughs continue to dominate the list.

“This is partly thanks to some incredibly luxurious properties benefiting from unbeatable locations near the heart of the city.

Top 10 most expensive streets in Britain

According to Zoopla, the ten most expensive streets in Britain with their average property values are:

1. Kensington Palace Gardens, London, W8 – £35,696,711
2. Grosvenor Crescent, London, SW10 – £21,984,033
3. The Boltons, London, SW10 – £19,858,239
4. Courtenay Avenue, London, N6 – £18,973,761
5. Ilchester Place, London, W14 – £15,311,090
6. Compton Avenue, London, N6 – £13,739,572
7. Manresa Road, London, SW3 – £12,587,961
8. Cottesmore Gardens, London, W8 – £11,969,745
9. Albemarle Street, London, W1S – £11,371,851
10. Chester Square, London, SW1V – £10,630,003