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Average house price up from 15.6m to 17.1m


12-15-2019

  • The 1920s properties rarely come on market and some could sell for double this
  • A nine-bed house in April sold for 30million, according to the Land Registry
  • Kensington and Chelsea in west London continues to dominate the top ten list
  • House prices on Britain's most expensive street have skyrocketed by 1.5million in just a year.

    Ilchester Place near Holland Park, west London, has seen the average cost of its properties swell from 15.6million to 17.1million, Lloyds Bank research revealed.

    The tidy 1920s terraces, which are popular with American buyers, rarely come on the market and some could sell for more than double the average price.

    Ilchester Place near Holland Park (pictured), west London, has seen the average cost of its properties swell from 15.6million to 17.1million, Lloyds Bank research revealed

    Ilchester Place near Holland Park (pictured), west London, has seen the average cost of its properties swell from 15.6million to 17.1million, Lloyds Bank research revealed

    The tidy 1920s terraces (pictured, an interior shot), which are popular with American buyers, rarely come on the market and some could sell for more than double the average price

    The tidy 1920s terraces (pictured, an interior shot), which are popular with American buyers, rarely come on the market and some could sell for more than double the average price

    Since 2014 just eight have come up for grabs, with a nine-bedroom mansion in April selling for 30million, according to the Land Registry. Pictured: Inside a house on the street

    Since 2014 just eight have come up for grabs, with a nine-bedroom mansion in April selling for 30million, according to the Land Registry. Pictured: Inside a house on the street

    One house, expected on sale next year, could fetch as much as 37million. The eye-watering prices dwarf last year's two sales which pulled in a mere 12.85million and 12.25million

    Since 2014 just eight have come up for grabs, with a nine-bedroom mansion in April selling for 30million, according to the Land Registry.

    But another, expected on sale next year, could fetch as much as 37million.

    The eye-watering prices dwarf the two sales last year which pulled in a mere 12.85million and 12.25million.

    And they could be set for a further hike as yesterday's general election win for Boris Johnson was described as a 'massive adrenaline shot' for the housing market.

    Boris boom? House price rises have tailed off in recent years, with London and the South East dragging back the rest of the property market. But they could be set to hike as yesterday's general election win for Boris Johnson was described as a 'massive adrenaline shot' for the housing market

    Boris boom? House price rises have tailed off in recent years, with London and the South East dragging back the rest of the property market. But they could be set to hike as yesterday's general election win for Boris Johnson was described as a 'massive adrenaline shot' for the housing market

    The property market has been stagnating in recent months, with estate agents reporting declining interest from potential buyers and a dwindling number of homes being put up for sale.

    Buyers and sellers who have avoided moving home due to political uncertainty may now choose to act, with forecasts this could pull forward the traditional spring flurry of activity in the market.

    Top 20 most expensive streets in Britain:

    1. Ilchester Place, Kensington And Chelsea, London, 17m
    2. Princes Gate, Westminster, 17m
    3. Phillimore Gardens, Kensington And Chelsea, London, 16m
    4. Tregunter Road, Kensington And Chelsea, London, 16m
    5. Chesham Place, Kensington And Chelsea, London, 15m
    6. Eaton Square, Westminster, 13.9m
    7. Kensington Road, Kensington And Chelsea, London, 12.9m
    8. Knightsbridge, Westminster, London, 12.8m
    9. Carlyle Square, Kensington And Chelsea, London, 11.9m
    10. Camden Street, Camden, London, 11.3m
    11. Charlbury Road, Oxford, 5.2m
    12. Camp End Road, Weybridge, South East, 5.2m
    13. East Road, Weybridge, 4.8m
    14. Eaton Park, Cobham, South East, 4.4m
    15. Stokesheath Road, Leatherhead, South East, 4.3m
    16. Birdshill Road, Leatherhead, South East, 4.2m
    17. Queens Drive, Leatherhead, South East, 4.1m
    18. Gorse Hill Road, Virginia Water, South East, 3.8m
    19. Eriswell Road, Walton-On-Thames, South East, 3.6m
    20. Heath Rise, Virginia Water, South East, 3.6m

    The Royal Borough of Kensington and Chelsea in west London continues to dominate the top ten list of most expensive streets, taking up six places and boasting and average price of 14million.

    And the top twenty barely strays from the southeast, with the exclusive neighbourhoods of St George's Hill in Weybridge, Wentworth in Virginia Water and Leatherhead in Surrey all featuring.

    Charlbury Road in Oxford is the most expensive street outside London where houses cost on average 5.258million.

    Andrew Mason, Mortgage Director, Lloyds Bank, said: 'The country's most expensive streets are getting even pricier, with the top 20 rising by an eye-watering 1.7million on average over the past year. 

    'While the prime London boroughs of Westminster and Kensington and Chelsea continue to top the tables, the South East's Charlbury Road in Oxford becomes the most expensive street outside London.

    'The average house prices in the top 10 priciest streets in the South East have risen by around 300,000 in the past year, with the 10 prestigious addresses in the area commanding an average house price in excess of 4.4 million.

    'More than 80 of the most expensive regions across England now all have at least one million-pound street, while the most expensive address in Wales has an average house price just short of the mark at 900,000.'

    One of the drawbacks about Ilchester Place is its travel links.

    Residents have to walk around 20 minutes to the nearest Tube stop at Holland Park and there is also few spaces to park cars off the road.

    Ilchester Place drops to fourth when looking at Zoopla's list of rich roads, with an average price of 15.06million, due to the website focusing on house value as opposed to sale price.

    One of the drawbacks about Ilchester Place (pictured, inside one of the houses) is its travel links

    One of the drawbacks about Ilchester Place (pictured, inside one of the houses) is its travel links

    Residents on the road(pictured) have to walk around 20 minutes to the nearest Tube stop at Holland Park and there is also few spaces to park cars off the road

    Ilchester Place (pictured) drops to fourth when looking at Zoopla's list of rich roads, with an average price of 15.06million, due to the website focusing on house value as opposed to sale price

    Ilchester Place (pictured) drops to fourth when looking at Zoopla's list of rich roads, with an average price of 15.06million, due to the website focusing on house value as opposed to sale price

    The exclusive neighbourhood (pictured, an interior picture) is a stones throw away from properties owned by Robbie Williams and Jimmy Page on Melbury Road

    The exclusive neighbourhood (pictured, an interior picture) is a stones throw away from properties owned by Robbie Williams and Jimmy Page on Melbury Road

    'Billionaires Boulevard', or Kensington Palace Gardens, which houses Chelsea FC owner Roman Abramovich, was the most expensive on its list with homes averaging 36.47million.

    But the most pricey house to be sold in 2019 was in Mayfair, where a penthouse at Clarges racked up 56million.

    Another on Belgravia also bagged 48million.

    Away from the capital, three out of the top five most expensive streets in the North were in Newcastle, with Montague Avenue averaging 1.065million followed by Graham Park Road at 1.04million and Runnymede Road - 1.025million.

    In the North West, the majority of rich roads are in Altrincham, Macclesfield, Knutsford and Alderley Edge.

    Charlbury Road in Oxford (pictured) is the most expensive street outside London where houses cost on average 5.258million

    Charlbury Road in Oxford (pictured) is the most expensive street outside London where houses cost on average 5.258million

    Chesham Place in Altrincham is the most expensive as homes on average sell for 2,486,000.

    In Yorkshire, the 'Golden Triangle between Harrogate Wetherby and North Leeds dominated with the most wealthy road being Fulwith Mill Lane in Harrogate pricing at 1.631million.

    Solihull got pole position in the West Midlands, with its Rising Lane costing 1.9million on average for a house. 

    In the neighbouring East Midlands, Leicester Road in Ashby-De-La-Zouch topped the list at 1.56million.

    Cambridge won in East Anglia, with the exclusive Storeys Way near the historic university having an average cost of 2.32million.

    And in the South West, Panorama Road in Poole was the most expensive street, which an average price of 2.8million.

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