28 December 2013
Last updated at 00:04 GMT
Egerton Crescent is close to department store Harrods
The London borough of Kensington and Chelsea has six out 10 of the most expensive streets in England and Wales, according to a new report.
Egerton Crescent, in South Kensington, was named the country’s most expensive place to live for the second year running by Lloyds Bank.
Many properties on the street are Grade II-listed Georgian homes which sell for an average of almost £7.4m.
The capital is home to 19 of the top 20 dearest streets.
‘Billionaires’ row’
Nitesh Patel, from Lloyds Bank, said: “Kensington and Chelsea has long had a global appeal and in more recent years the area has attracted many ultra-wealthy foreign buyers.
“Low housing supply also helps support high property values in this area.”
A property in the South Kensington street costs more than £7m
In October, Office for National Statistics (ONS) figures showed house prices in London rose by 12% year-on-year compared to 5.5% for the whole of the UK.
The typical house price across the city was £437,000, according to the ONS report.
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Top ten most expensive streets in England and Wales
- Egerton Crescent, Kensington and Chelsea, £7.37m
- The Bishops Avenue, Hampstead, £6.2m
- Cadogan Square, Kensington and Chelsea, £5.75m
- Prince Consort Road, Kensington and Chelsea, £5.5m
- Drayton Gardens, Kensington and Chelsea, £5.23
- Parkside, Merton, Greater London, £5.21m
- St James’s Place, Westminster, £5.07m
- Eaton Square, Kensington and Chelsea, £5.04
- Lancaster Gate, Bayswater, £4.87m
- Blenheim Crescent, Kensington and Chelsea, £4.8m
Cadogan Square, Prince Consort Road, Drayton Gardens, Eaton Square and Blenheim Crescent were the other Kensington and Chelsea addresses in the top 10 list, with homes in these areas costing around £5m.
The Bishops Avenue in Hampstead, north London, which is also known as “billionaires’ row”, was named as the country’s second most expensive street with average homes costing £6.2m.
Spicers Field in Oxshott was the only street outside of London to make the top 20. The Surrey road was the 19th most expensive with homes costing £3.5m.
The only street outside southern England to make the top 50 was Withinlee Road in Macclesfield, Cheshire, which entered the list at number 48 as homes in the area cost almost £1.9m.
Lloyds Bank used Land Registry house sales figures between 2008 and 2013 to compile the report.