Once, you’d have done well to find a home worth more than £1million beyond the South East and the Premier League footballers’ enclave of Cheshire.
But now, despite a slowdown in the property market, every region in Britain has a ‘Millionaires’ Row’ – a street with properties that have sold for a seven-figure sum.
In fact, almost 100 streets around the country can boast such homes, according to research by Lloyds Bank based on home sales from January 2013 to October 2018.
Ilchester Place in Holland Park, London, which has been identified as the most expensive residential street in England and Wales with an average house price of £15.6 million. Seven addresses nationally had an average price of more than £11million, all of which – perhaps unsurprisingly – were in London
After looking at roads with at least five home sales valued at £1million or more, it found England had 75, Scotland had 21 and Wales had one – a total of 97.
The most expensive is Ilchester Place in exclusive Kensington and Chelsea, west London, where high-end houses sold for an average of £15.6million.
Seven addresses nationally had an average price of more than £11million, all of which – perhaps unsurprisingly – were in London.
Panorama Road in Sandbanks, Dorset, has been identified as the most expensive residential street in the South West, with an average house price of £2,593,000. Once, you’d have done well to find a home worth more than £1million beyond the South East and the Premier League footballers’ enclave of Cheshire
Fulwith Mill Lane in Harrogate has been identified as the most expensive residential street in Yorkshire and the Humber, with an average house price of £1,631,000. Every one of the 20 priciest addresses is in London and the South East – where the dearest homes cost £5.6million
The last time Lloyds Bank published its million-pound-property analysis – covering sale values between 2012 and 2017 – London laid claim to six of the top seven priciest addresses.
The latest figures show a stark regional divide still exists when it comes to high-end house prices.
Every one of the 20 priciest addresses is in London and the South East – where the dearest homes cost £5.6million, while the most expensive homes in Northern regions go for far less, with the highest coming in at £2.3million in Alderley Edge, Cheshire.
Andrew Mason, mortgage director at Lloyds Bank, said: ‘The prime London boroughs of Westminster and Kensington and Chelsea continue to top the tables in Britain’s most expensive streets.’
The second and third most expensive streets in London were in Westminster, where homes in Eaton Square and Knightsbridge fetched £13.7million and £13.4million respectively.
Rising Lane, Solihull, where property prices average £1.9million. House price growth almost ground to a halt in November, according to Halifax, as a weakening that started in the high-end London market spread further
Golf Place, St Andrews, with house prices reaching £1,975,000. The latest figures show a stark regional divide still exists when it comes to high-end house prices
Storey’s Way, Cambridge, where property prices average £2.5million. The market in high-value homes was hit by stamp duty changes in 2015 after former chancellor George Osborne raised taxes on the most expensive properties
Edinburgh is home to more than half of Scotland’s most expensive residential roads.
But properties on Golf Place in St Andrews take the region’s top spot – with house prices reaching £1,975,000.
Ricky Higgins, director at Bank of Scotland, which is owned by Lloyds, said: ‘For the second consecutive year, no location is on a par with St Andrews when it comes to the country’s most prestigious addresses.’ Growth in the UK housing market has been slowing since early 2016.
House price growth almost ground to a halt in November, according to Halifax, as a weakening that started in the high-end London market spread further.
The market in high-value homes was hit by stamp duty changes in 2015 after former chancellor George Osborne raised taxes on the most expensive properties.
Every region in Britain has a ‘Millionaires’ Row’ – a street with properties that have sold for a seven-figure sum. In fact, almost 100 streets around the country can boast such homes, according to research by Lloyds Bank based on home sales from January 2013 to October 2018