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PrimeResi Quarterly Journal

The handbook of the luxury property industry

Click on the cover to find out more

PRQ8

Current issue: Winter 2016/7

Millionaires’ Rows 2014: Britain’s most expensive streets, towns and areas

12 streets - all in London - claim an average house prices over £10m

The value of Britain’s most expensive streets is rising at nearly twice the national average, meaning that the number of “property millionaires” – with homes worth more than £1m – is nearly 50% higher than it was last year.

This is old news! Read the 2015 rankings here.

Property prices on the the UK’s ten most expensive streets have increased by 12.9% over the last 12 months, while Zoopla’s stats show a national average price rise of 6.6% over the same period.

The portal’s annual Property Richlist shows that there are now 484,081 £1m+ homeowners in Britain – up 49% on last year – and that there are 10,613 streets in Britain with an average property value of £1m+, up 29% on 2013. 3,744 of those “Millionaires’ Rows” – just shy of a third of the total and all the top 20 – are in London.

Here’s what the first new-build for over a century on Britain’s most expensive street, Kensington Palace Gardens, will look like. Click the pic to read all about it.

12 streets – all in London – claim an average house prices over £10m. Kensington Palace Gardens again tops the table, with an average price of £42,730,760 (62 times the £263,705 value of the average British home, says Zoopla). The Boltons in SW10 takes second place with average house prices standing at £26,570,341, and Grosvenor Crescent in SW1 rounds out the top three with average property prices of £22,293,470.

Outside of the capital, the most expensive street in Britain is Sunninghill Road in Surrey, where the average home is currently worth £5,605,067. The two most expensive towns outside London are both in Surrey, with average house prices in Virginia Water at £1,186,262 and Cobham at £1,003,400.

W8 (Kensington) remains London’s most pricey postcode, with average property prices in the area of £2.78m. Neighbouring SW7 (Knightsbridge), the next most expensive area in the capital, has average values of £2.48m, while property values in third-placed SW3 (Chelsea) stand at £2.37m. The rest of the top 10 is dominated by areas in South West, West and North West London.

Britain’s Top 20 Most Expensive Streets

Rank

Street

Average property

value (£)

Annual increase

(%)

1

Kensington Palace Gardens, London W8

£42,730,706

12.11%

2

The Boltons, London SW10

£26,570,341

13.64%

3

Grosvenor Crescent, London SW1X

£22,293,470

12.43%

4

Courtenay Avenue, London N6

£16,877,746

13.67%

5

Ilchester Place, London W14

£11,853,515

16.02%

6

Frognal Way, London NW3

£10,974,043

8.38%

7

Carlyle Square, London SW3

£10,846,481

14.14%

8

Montrose Place, London SW1X

£10,683,611

12.43%

9

Cottesmore Gardens, London W8

£10,631,829

12.11%

10

Manresa Road, London SW3

£10,362,420

14.14%

11

Compton Avenue, London N6

£10,311,219

12

Chester Square, London SW1W

£10,205,196

13

Chelsea Square, London SW3

£9,845,528

14

Mulberry Walk, London SW3

£9,799,712

15

St. Albans Grove, London W8

£9,685,622

16

Albert Place, London W8

£9,651,779

17

Victoria Road, London W8

£9,624,985

18

Farm Street, London W1J

£9,603,507

19

The Vale, London SW3

£9,250,024

20

The Bishops Avenue, London N2

£9,138,727

 

Britain’s Top 10 Most Expensive Towns

Rank

Town

Average property

Value (£)

Annual increase

(%)

1

Virginia Water, Surrey

£1,186,262

5.91%

2

Cobham, Surrey

£1,003,400

6.94%

3

Keston, London

£947,955

10.81%

4

Esher, Surrey

£931,669

10.08%

5

Richmond, Surrey

£906,770

12.47%

6

Beaconsfield, Buckinghamshire

£897,872

4.79%

7

Chalfont St. Giles, Buckinghamshire

£836,434

0.47%

8

Gerrards Cross, Buckinghamshire

£815,222

9.38%

9

Radlett, Hertfordshire

£794,569

14.21%

10

Weybridge, Surrey

£785,400

6.96%

 

Highest Number of £1m Streets by Area

Rank

Area

Number of Million Pound Streets

1

London

3,744

2

Richmond

226

3

Ascot

160

4

Guildford

151

5

Leatherhead

128

6

Mitcham

123

7

Woking

113

8

Esher

111

9

Sevenoaks

108

10

Farnham

104

London’s Top 10 Postcodes by Average Property Value

Rank

Postcode

Average property

value

Annual increase

(%)

1

W8 (Kensington)

£2,780,992

9.32%

2

SW7 (Knightsbridge, South Kensington)

£2,482,353

9.90%

3

SW3 (Chelsea, Brompton)

£2,369,520

11.33%

4

W11 (Notting Hill, Holland Park)

£1,898,527

13.66%

5

SW10 (West Brompton, World’s End)

£1,712,411

10.87%

6

SW13 (Barnes, Castelnau)

£1,436,369

10.82%

7

SW5 (Earl’s Court)

£1,371,566

12.78%

8

NW3 (Hampstead, Belsize Park, Swiss Cottage)

£1,356,136

7.88%

9

NW8 (St John’s Wood)

£1,346,406

11.15%

10

N6 (Highgate)

£1,270,784

13.90%

Lawrence Hall of Zoopla: “London boasts all of Britain’s twenty priciest addresses. Prime properties in the capital have long been a magnet for the super-wealthy looking for a safe investment asset. For the lucky few who can afford these stratospheric pricetags, the fabulous mansions on streets like Kensington Palace Gardens and the Boltons are offering very strong returns.

“However you don’t need to be a billionaire to get a chance to own the crème de la crème of property on offer. In Wales and the North East, you can still snap up a prime property in the region’s most desirable streets for little over £1 million.”

zoopla.co.uk/richlist

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