Most expensive homes in the UK are in Grosvenor Crescent in London
Grosvenor Crescent in London is the UK’s most expensive street with an average home price of £16.9 million, new research shows.
Overall there are six streets with an average house price of over £10 million and all of them are in the London boroughs of Westminster and Kensington and Chelsea, according to the report from Lloyds Bank.
There is now at least one million pound street in every region across the UK but it is Grosvenor Crescent, located in the heart of Belgravia between Hyde Park Corner and Belgravia Square, that tops the list.
Belgravia has long attracted wealthy buyers due to its graceful white stucco residences, sweeping crescents, private garden squares and closeness to all the amenities of Knightsbridge, Pimlico and Chelsea.
The second most expensive street is Ilchester Place in Holland Park, with an average house price of £16.7 million. Holland Park, in the borough of Kensington and Chelsea also has an affluent and fashionable reputation with many large period residencies that attract the rich and famous.
Eaton Square, last year’s most expensive street, is now third with an average price of £13,585,000, down from £17 million last year, followed by Chester Square at£12,534,000, Carlyle Square at £11,618,000 and Kensington Road at £10,185,000.
Seven of the top 20 most expensive streets in England and Wales are based in Surrey. Three are in Weybridge; East Road with an average price of £5,053,000, West Road at £4,578,000 and Cavendish Road at £3,881,000. Leatherhead has two with the average price in Queens Drive of £4,222,000 and Leys Road at £3,749,000.
Outside of London and the South East, the most expensive streets are in, or close to, Sandbanks in Poole, with an average price of £2,361,000 in Panorama Road, and £2,266,000 in Bury Road in Canford Cliffs, followed by Sandbanks Road at £2,180,000, Western Avenue at £2,155,000 and Haig Avenue at £2,108,000.
Millington Road in Cambridge is the most expensive street in East Anglia with an average price tag of £2,030,000 followed by Storeys Way at £1,881,000 while in northern England, Congleton Road in Alderley Edge is the most expensive street with an average price of £1,985,000 followed by Park Drive in Altrincham at £1,820,000.
In the North East the majority of the most expensive streets are located in Newcastle with Runnymede Road having an average price of £1,111,000 and Montagu Avenue at £1,048,000, while in the West Midlands, Roman Road in Sutton Coldfield at £1,481,000 and Widney Manor Road in Sollihull at £1,386,000 are the two priciest addresses.
In Wales, St. Annes Close in Swansea takes the top spot with an average price of £1,029,000 followed by Twyncyn in Dinas Powys at £813,000. Fulwith Mill Lane in Harrogate has the most expensive homes in Yorkshire and the Humber at £1,545,000 while Warren Hill in Newtown Linford in Leicester is the most expensive street in the East Midlands with an average price of £1,288,000.
‘As expected, addresses in London and the South East top the list of most expensive places to live, our research shows that all other regions have at least one £1 million street. Away from London, the survey shows that the most expensive streets are tightly clustered within Cheshire, Yorkshire and the Humber and Sandbanks in Dorset on the south coast,’ said Andrew Mason, mortgage products director at Lloyds Bank.