£4.9m for homes on priciest street
Published 29/12/2011 | 00:17
Nestled close to Kensington Palace, Campden Hill Square in the heart of London's Holland Park has been named as the most expensive residential street in England and Wales, with an average house price of £4.9 million, according to Lloyds TSB.
Such is the pull of Kensington and Chelsea that seven streets there have made the top 10 priciest list, including Drayton Gardens with an average price of £4.4 million, Dawson Place averaging £3.9 million, Duchess of Bedfords Walk with prices typically at £3.9 million and Cadogan Square with typical price tags of £3.7 million.
Parkside, in Merton, south-west London, was the most expensive street in a similar study last year, and came in second place this year with an average house price of £4.8 million.
Lloyds TSB economist Suren Thiru said: "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."
Unsurprisingly, the priciest streets away from the English capital tend to be in the Home Counties, the study found. Properties in Leys Road in Leatherhead, Surrey, have an average price of £3.1 million - the highest outside London.
Brundenell Avenue in the glamorous celebrity hangout of Sandbanks in Dorset has an average house price of £2 million and is the most expensive street outside London and the South East.
Outside southern England, the most expensive street is Withinlee Road in Prestbury, near Macclesfield, Cheshire - where the average house price stands at £1,649,000. Withinlee Road, highlighted by the study for being favoured by footballers, is followed by Macclesfield Road in Alderley Edge, where houses typically cost £1.3 million.
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).
The most expensive street in Wales is Druidstone Road on the outskirts of Cardiff with an average house price tag of £685,000.