Former home of PMs and 007s named UK’s most expensive street

uk-most-expansive-houses


Powered by Guardian.co.ukThis article titled “Former home of PMs and 007s named UK’s most expensive street” was written by Rob Davies, for The Guardian on Friday 23rd December 2016 00.01 UTC

A London square whose wealthy residents have included Margaret Thatcher and Sean Connery has been crowned the most expensive in England and Wales with an average house price of nearly £17m.

Eaton Square, in the upmarket Belgravia district of west London, topped a list dominated by addresses in the capital, according to an annual survey by Lloyds Bank.

But the lender’s research also found that every region in England and Wales now has at least one “million-pound street”.

Built by the Grosvenor family in the 19th century, Eaton Square features grand homes and apartments featuring Grade II-listed white stucco facades.

It has been home to at least three prime ministers and two James Bonds, with Connery and Roger Moore both lending it a touch of 007 glamour, contributing to an average house price of £16.9m.

The sum is more than double last year’s highest average price of £8m, on Victoria Road in Kensington & Chelsea.

The UK’s most expensive streets in London
The UK’s most expensive streets in London

The bank said this did not reflect a broader surge in house prices, but was more likely to do with the small number of transactions in any given period, which means that one astronomical sale can distort the average.

One home on Eaton Square sold for £25m earlier this year, dragging the street’s average up, despite an overall slowdown in multimillion-pound house purchases.

At nearly £17m, the average price on the street is more than three times higher than in the most costly areas outside London, Weybridge and Leatherhead.

The UK’s most expensive streets outside London
The UK’s most expensive streets outside London

The two Surrey towns account for eight of the country’s top 20 priciest streets with Camp End Road in Weybridge at the top of the pile with an average house price of £5.2m.

East Road in Weybridge
East Road in Weybridge Photograph: Savils

But addresses in the capital dominate the list of the most expensive streets, with seven of the top 10 found in just two London boroughs, Westminster and Kensington.

While London dominates the list, the Lloyds research revealed that every region in England and Wales now has at least one street where the average house price is more than £1m.

Outside London and the south-east, the wealthiest addresses are those in, or close to the millionaires’ playground of Sandbanks in Poole on the Dorset south coast.

Panorama Road is the most exclusive address on the highly sought-after peninsula, with houses priced at £4.6m on average.

Panorama Road on Sandbanks seen from Poole Harbour.
Panorama Road on Sandbanks seen from Poole Harbour. Photograph: Alamy Stock Photo

Crick Road in Oxford also scrapes into the top 20 at slightly more than £4m.

Altrincham in Greater Manchester is home to northern England’s highest house prices, at an average of £2m, followed by Leycester Road in Knutsford, Cheshire, at £1.79m.

Most of the north-east’s highest entries are in or near Newcastle, led by Runnymede Road in Ponteland, Northumberland, at £1.1m, while East Anglia’s list is topped by Storey’s Way in Cambridge at £1.9m.

The West Midlands is represented by Farquhar Road in Edgbaston (£1.4m), with the east Midlands not far behind at £1.3m for a home on Warren Hill in Newton Linford, Leicester.

The seaside resort of Llandudno takes top spot in Wales, with the average home on Llys Helyg Drive just squeezing in above the £1m mark.

Yorkshire and the Humber are dominated by the “Golden Triangle” between Harrogate, Wetherby and north Leeds, with Ling Lane in Leeds the most expensive at £1.3m.

In Devon and Cornwall, the city of Truro comes first, with homes on Restronguet Point selling for £1.8m.

Llandudno is home to some of the mosty expensive streets in Wales.
Llandudno is home to some of the mosty expensive streets in Wales. Photograph: Patrick Ward / Alamy/Alamy

Andrew Mason, mortgage director at Lloyds Bank, said: “Eaton Square, and prime central [London] locations such as Westminster, and Kensington and Chelsea, have established reputations as exclusive addresses.

“Not only do these streets possess a rich historical legacy, but properties located there are some of the most prestigious in the world and are close to superb local amenities in Knightsbridge, Sloane Street and Chelsea, as well as the capital’s business and entertainment districts.”

“Away from London, our figures show that the most expensive streets tend to be tightly clustered within pockets in the same area.

For example, the Edgbaston district in Birmingham, the Wilmslow and Altrincham areas in Cheshire, the so-called ’Golden Triangle’ in Yorkshire and the Humber and Sandbanks in Dorset on the south coast.”

The data was compiled from more than 1.7m postcodes, using Land Registry data for transactions between January 2011 and October 2016.

• This article was amended on 23 December 2016. An earlier version suggested incorrectly that Runnymede Road was in Newcastle.

guardian.co.uk © Guardian News & Media Limited 2010

Published via the Guardian News Feed plugin for WordPress.