Lloyds TSB reveals Britain's most expensive streets

Thursday, 29 December 2011 11:02

New research carried out by Lloyds TSB has revealed the most expensive streets in Britain based on property prices.

The costliest road to live on was found to be Campden Hill Square - just around the corner from Kensington Palace - where the average home would set buyers back £4,863,000.

Indeed, seven out of ten of the streets listed were in either Kensington or Chelsea, showing the allure of living within the prestigious postcodes of these districts.

Last year's most expensive street, Parkside, had been pushed down into second place, as homes there now cost £4,826,000.

Outside of London, the Home Counties were found to be the most expensive for property buyers, with Leys Road in Leatherhead having the highest prices away from the capital.

Dorset was also featured in the list thanks to Brundenell Avenue in Sandbanks, where the average property has an asking price of £2,024,000.

However, one area away from the south that also made several appearances was Macclesfield, presumably as a result of many footballers purchasing houses in the area.

Homes on Withinlee Road in Prestbury cost around £1,649,000, those on Macclesfield Road in Alderley Edge are priced at £1,320,000 and properties on Torkington Road in Wilmslow have an average price tag of £1,285,000.

Lloyds TSB economist Suren Thiru said it is not surprising that most of the streets on the costliest list are in Kensington and Chelsea, as this area is not only glamorous, but also has good schools and is close to London's business districts.

"Outside London, the areas with the most expensive streets are generally located well away from central areas, where buyers are typically attracted by larger properties and more green space," he added.

Earlier in 2011, the Halifax Property Age Review found that houses built before the First World War have seen the biggest increase in prices over the past 25 years.

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