Kensington Palace Gardens (W8) has won the title for being ‘the priciest road in Britain’ for the 12th consecutive year.
With an average property price of a cool £35,991,500, Kensington Palace Gardens is often cited as one of the ‘most exclusive addresses’ in London. The tree-lined avenue houses embassies, diplomatic residences and homes of the ultra-rich, including steel tycoon Lakshmi Mittal and Chelsea F.C. owner Roman Abramovich.
Perhaps unsurprisingly, London is home to the top ten most expensive streets in Britain according to the curators of the nation’s Most Expensive Street List for 2020, property portal Zoopla.
In second place for the second year running is Courtenay Avenue (N6) in Highgate, which boasts an average property value of £18,639,000. For those with pockets deep enough to satisfy the eye-watering prices for property on this street, there is currently a number to choose from according to Zoopla, including an eight-bedroom detached house, complete with its own swimming pool, leisure centre and 24hr gated security that’s on the market for £16,999,999.
Three new entrants in the list include eighth place street Mulberry Walk in Chelsea (SW3) with an average asking price of £9.6m; Egerton Crescent (SW3) in tenth place with an average price of £9,336,000 and St Albans Grove in Kensington (W8) in ninth place, with an average property value of £9.537m. One property currently for sale in St Albans Grove is this five-bedroom flat located a short walk from Kensington Gardens, which is currently on the market for £9.25m.
Surrey Takes the Crown Outside of the Capital
Montrose Gardens in Leatherhead, Surrey, is home to the heftiest price tags outside of London, with an average property value of £6,037,000. Set within the exclusive Crown Estate, and ideally located between the lush countryside of the Surrey Downs and the outskirts of London, it’s easy to see why property in Montrose Gardens commands such high prices.
The second most expensive street outside of London is Titlarks HIll in Ascot, Berkshire, with an average property value of £5,995,000, while in third place is Portnall Rise in Virginia Water, Surrey with an average price of £5.8m.
Post Towns with an Average Property Value of £1m+
Outside of the capital, Sevenoaks in Kent is the postal town with the most number of expensive streets (188); this is followed closely by Guildford in Surrey with 183 and Reading in Berkshire with 179. Furthermore, regional analysis of the data shows that of the 12,545 streets in the UK with an average property price of £1 million and above, 4,707 are found in the South East and 4,523 are concentrated in Greater London. By contrast, only 27 are found in Wales, 57 in the North East of England, and 114 in Scotland.
Gráinne Gilmore, Head of Research at Zoopla comments: “London dominates the country’s prime property market, but it is being challenged by the South East in terms of the number of million-pound streets, reflecting the rise in demand and pricing seen in this market, as well as its housing stock mix and its geographical size.”