It costs £21m to live on Britain's priciest road - what's the most expensive street near YOU?

It costs £21m to live on Britain's priciest road - what's the most expensive street near YOU?
By: dailymail Posted On: December 23, 2024 View: 39

The top 10 most expensive streets in Britain are all located in London, new data reveals. 

For buyers with the deepest pockets, properties in Knightsbridge - which is the road that houses One Hyde Park - are the most expensive, with an average price tag of £21,409,000. 

Ilchester Place in London is the second most expensive street to buy a home, with prices at around £19,387,000. 

Grosvenor Square and Clarendon Road are the third and fourth priciest streets in London to purchase properties, with homes typically costing £19,061,000 and £17,030,000 respectively, Lloyds said. 

While still in the top 10, at £13,696,000, properties on The Little Boltons street in Chelsea cost £7million less than those in the heart of Knightsbridge. 

Amanda Bryden, head of mortgages at Lloyds, said: 'London’s dominance in the list of priciest streets underscores the city's continued appeal and the resulting competitiveness at the very top end of the property market. 

'However, at £21.4million to buy a home, even those with the deepest pockets might baulk at the price.'

Taking all the top 10 most expensive streets in London into account, buyers need an average of £16.5million to buy a home. 

With the average national house price standing at around £356,925, the most expensive properties in the country are almost 60 times more expensive than a typical home. 

Which are the most expensive streets near you?

Beyond London, East Road in Weybridge is the most expensive street to buy a home. The average home on this Surrey street costs just over £8million. 

Turning to the east of England, Park Avenue North, Harpenden, is the most expensive street (£3,587,000), followed by Newlands Avenue in Radlett (£3,415,000). Last year’s first place, Woodlands Road in Cambridge (£3,294,000), came third this year, according to Lloyds. 

Croft Road in Nottingham is the most expensive street once again in the East Midlands, with properties costing around £1,620,000. 

Warren Lane in Leicester retained its second place regional ranking, with homes costing around £1,563,000. 

Again in the East Midlands, Golf Lane in Northampton came in third place, with buyers on the street forking out around £1,512,000 for a home. 

Solihull has some of the most expensive houses in the West Midlands, with Bakers Lane and Rising Lane topping the list.  

In the north west of England, the top two most expensive streets were in Altrincham. On Barrow Lane, house prices stand at an average of £2,914,000, while on Broadway, they are £2,905,000. 

Completing the top three most expensive streets in the north west was Fletsand Road in Wimslow, where average property prices are £2,659,000. 

In the south west of England, Brudenell Avenue in Poole, with average property prices of around £3,062,000. 

Charlton Park Gate in Cheltenham came in second place for the area, with homes still costing a hefty £2,829,000. 

Bury Road in Poole is the third most expensive street in south west England, with a property typically costing £2,547,000. 

In the north east of England, Ramside Park in Durham is the most expensive street, with homes costing around £1,538,000. 

At £1,440,000, Runnymede Road in Newcastle upon Tyne is the second priciest street in the north east. 

Westfield Drive in Newcastle upon Tyne came in third place in the region, with properties costing around £1,340,000. 

Across Yorkshire and The Humber, the most expensive street was once again Manor House Lane in Leeds, with properties costing around £2,135,000. 

Turning to Scotland, Queens Crescent in Auchterarder is Scotland’s most expensive postcode, with properties generally costing nearly £3million. 

Wales has some of the 'lowest most expensive properties', Lloyds said. 

Average properties on Benar Headland in Pwllheli typically cost £1,345,000, making in it the most expensive street in Wales. In Cardiff, Llandennis Avenue has the priciest property price tag, at £1,135,000. 

Ms Bryden of Lloyds, said: 'The cost of securing a prestigious address does vary across the country. For instance, living on the most expensive street in Wales means paying around £1.3million, although still a significant amount.'   

Toby Leek, NAEA Propertymark president, said: 'Knightsbridge showcases the enduring appeal of prime London real estate, particularly in areas renowned for their exclusivity and proximity to world-class amenities.

'The report also illustrates stark regional disparities. While a home on East Road in Weybridge, the priciest street outside London, averages over £8million, the most expensive properties in Wales come in significantly lower, averaging around £1.3million.

'Such figures emphasise the varied dynamics of the UK property market, where location and prestige dramatically influence valuations.'

He added: 'This report is a fascinating snapshot of where the UK’s wealthiest choose to invest in real estate. As we move into 2025, these trends will likely continue to shape discussions around housing policy and urban development.' 

How to find a new mortgage

Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible.

Quick mortgage finder links with This is Money's partner L&C

> Mortgage rates calculator

> Find the right mortgage for you 

What if I need to remortgage? 

Borrowers should compare rates, speak to a mortgage broker and be prepared to act.

Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it.

Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees.

Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone. 

What if I am buying a home? 

Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be. 

Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power.

How to compare mortgage costs 

The best way to compare mortgage costs and find the right deal for you is to speak to a broker.

This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice.

Interested in seeing today’s best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs.

If you’re ready to find your next mortgage, why not use L&C’s online Mortgage Finder. It will search 1,000’s of deals from more than 90 different lenders to discover the best deal for you.

> Find your best mortgage deal with This is Money and L&C

Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you. 

Mortgage service provided by London & Country Mortgages (L&C), which is authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage 

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