Halifax has revealed the UK’s most expensive streets, with Grosvenor Square in the London borough of Westminster now topping the list.
Average house prices in the area, which sits at the heart of Mayfair, will set buyers back a jaw dropping £20.35 million. Grosvenor Square is one of the largest squares of its kind in London, with a rich history which can be traced to the early 18th century.
Heading west to the borough of Kensington and Chelsea in cosmopolitan Notting Hill, Clarendon Road takes second spot with an average price tag just shy of the £20 million mark, at £19.96 million. Making up the top three – and home to world-famous luxury shopping destination Harrods – is London’s Knightsbridge, where properties now cost an average £19.95 million.
If a home on one of London’s priciest streets is top of the Christmas list this year, deep pockets will be needed, with the average price tag now £14.5 million.
With the average UK house price now £283,615, the costliest properties in the country are almost 72 times more expensive than a typical home.
The most expensive street outside of the capital is East Road, in Weybridge, where an average home will set buyers back over £9 million. For a relative bargain, the priciest residences in Wales start from £1.3 million.
Kim Kinnaird, Mortgages Director, Halifax said: “Buying any home is expensive and likely to be the biggest single purchase most people will ever make.
“Purchasing a property on one of Britain’s most expensive streets comes with a colossal price tag and it’ll be no surprise that house prices in London continue to dominate, with the top 10 priciest streets to buy a home all in the capital. But the gap between the most expensive streets is vast, depending on the region you live in, with the average house price for the priciest properties in London topping £20 million, compared to around £1.3 million in the North East.
“Even in the most expensive region outside of London, the South East, the top 10 most expensive streets are, on average, £10 million cheaper than their London equivalents.”
Regional key findings
North East
Ramside Park in Durham (£1,536,000) takes the top spot in the region for the second year running. Gubeon Wood, Morpeth (£1,491,000) remains in second place, followed by West Park Road in Sunderland, new in at third place (£1,297.000).
North West
Old Hall Road in Windermere (£4,015,000) is now the most expensive street in the North West and Withinlee Road in Macclesfield in second place (£3,567,000) with Barrow Lane in Altrincham taking the third spot (£2,914,000).
Yorkshire and the Humber
The most expensive street in the region is once again Manor House Lane, Leeds (£2,320,000), followed by Fulwith Mill Lane, Harrogate (£1,936,000), then Curly Hill, Ilkley (£1,662,000).
West Midlands
In the West Midlands, Wellesbourne Road in Stratford upon Avon is priciest, with houses costing an average £2,044,000. Kenilworth Close (£1,869,000) and Luttrell Road (£1,869,000) both in Sutton Coldfield are in second and third place in the region.
East Midlands
Croft Road in Nottingham (£1,694,000) is the most expensive street, followed by Warren Hill, Leicester (£1,615,000) and Melton Road, also in Nottingham (£1,600,000).
East of England
In the East, the top seven most expensive streets are all over £3 million. Woodlands Road in Cambridge (£3,832,000) is top, followed by Astons Road in Northwood (£3,760,000), then Newlands Avenue in Radlett (£3,606,000).
South East
East Road in Weybridge is the most expensive street in the region with an average house price of £9,010,000 – the highest outside of the capital. This is followed by Westbrook Hill in Godalming (£8,960,000) and West Drive, Virgina Water in third place (£8,813,000).
South West
Five of the top 10 most expensive streets in the South West are in Poole, Dorset with Lawrence Drive (£3,991,000) in first place and Mornish Road in second (£3,350,000). Charlton Park Gate in Cheltenham is in third place with an average house price of £3,063,000.
Wales
Benar Headland in Pwllheli is again the most expensive street in Wales with an average price of £1,345,000, followed by Hanley Cwrt in Usk (£1,342,000) and Llys Helyg Drive in Llandudno (£1,153,000). In the Welsh capital of Cardiff, the most expensive street is the brand-new development of The Rise (£1,106,000).
