The most expensive street in the UK has been named and — unsurprisingly — it is in London.
Buckingham Gate in Westminster, where homes have an average asking price of £9.63 million, is the priciest address in Britain reports Rightmove.
Homes on the SW1 street adjacent to Buckingham Palace can go for much higher sums. A nine-bedroom Grade II listed mansion is currently on the market for £45 million.
A home in one of the stucco-fronted buildings became one of London’s most expensive rentals when it was listed at £47,000 a week.
Vicarage Gate in Holland Park was named the second most expensive street, with an average asking price of £6.33 million. The street also has royal connections, sitting just behind Kensington Palace.
Holland Park is a super rich celebrity hotspot. David and Victoria Beckham own a townhouse worth a reported £31 million in the area, while Robbie Williams is currently in a row with his neighbour, Led Zeppelin guitarist Jimmy Page, over the singer’s plans to build an underground spa complex.
Simon Cowell recently sold his Holland House park for a reported £15 million.
Park Road in St John’s Wood was in the top three most expensive streets, with an average asking price of £5.8 million. Rihanna lived in a £27.5 million home in the area between 2018 and 2020.
However third place may come as a blow to the NW8 postcode. Avenue Road in St John’s Wood was named Britain’s most expensive street in 2020, with an average house price of £30 million.
St John’s Wood Road, which is actually in Maida Vale, ranked in fourth place with an average asking price of £5.39 million. Cadogan Square in Knightsbridge, with a £4.83 million price tag on average, was the fifth most expensive street in Britain.
“London's status as the hub of luxury property in the UK remains unchallenged,” said Rightmove’s property expert Tim Bannister.
“Although the possibility of buying one of these homes is limited to a very lucky few, there’s clearly a fascination with these prestigious homes as we find they’re often among our most viewed properties on Rightmove.”
Outside of London, the most expensive street was Old Avenue in Weybridge, Surrey, where the average asking price is a relatively measly by comparison £2.63 million.
London has thus managed to maintain its gold-plated pricey property crown, despite a challenging few years for the most expensive end of the market.
Many mega mansion owners have slashed millions off their asking prices after the prime central market was buffeted by Brexit, inflation and political uncertainty.
Experts hope that the market has bottomed out, with Savills predicting prime property prices will begin to rise again by the end of 2024.
