Britain’s most expensive streets have been revealed in an extensive rich list of premium neighbourhoods, released by Zoopla.
The list included a number of prestigious neighbourhoods, in which houses were all priced in the millions of pounds, with regional variations reflecting a distribution of premium property markets across the country.
Zoopla estimated that Britain had as many as 15,484 streets where the average property was worth £1 million or more.
They added that this was down from the 17,289 homes they had recorded as being worth £1 million or more in 2018, indicating that prices for premium properties had declined in the past year.
Kensington Palace Gardens on top
Kensington Palace Gardens topped the list of most expensive streets in Britain, for the 11th year in a row, according to Zoopla. The average home in that neighbourhood was estimated to be worth £32.9 million, far exceeding the price of the average home across the UK.
However, Zoopla added that properties in this address had seen £2.8 million wiped from their value in the last 12 months alone, suggesting that coming at the top of the list came at a price for those owning homes in the area.
London was home to 5,329 streets with a valuation of £1 million or more, slightly behind the South East of England, where 5,671 streets were found to have properties over this price bracket.
This reflected the concentration of high-value properties in the immediate vicinity, as 10 of the top high-value streets were all found in London alone, Zoopla revealed. Virginia Water in Surrey was found to be the highest-value town in Britain, with average homes priced at £1.3 million.
Fewer premium streets elsewhere
Wales was found to have the fewest prestigious neighbourhoods, with just 31 streets found to have homes worth £1 million or more. The North East of England also lacked a significant number of expensive homes, with 73 streets found to have properties worth £1 million or more.
The most expensive street outside the capital was found to be in Montrose Gardens in Leatherhead. In this neighbourhood, prices were worth an average of £6.5 million. Temple Gardens in Rickmansworth was the second-priciest non-London street, with properties worth an average of £4.4 million.
Zoopla estimated that 91 per cent of British streets with property prices of more than £1 million were found in the South of England, reflecting a clear regional division of property wealth.
Laura Howard, consumer expert at Zoopla, commented on the findings: “It’s no surprise that it’s the capital that plays host to the UK’s most-expensive streets – but, even to the super-rich, the wealth that can be found among them is mind-blowing.”
Ms Howard concluded: “Outside of London, it’s the exclusive pockets of the well-heeled home counties, such as Kent, Surrey and Hertfordshire that boast the priciest streets.”