London’s most expensive roads revealed
Research by London’s prime and super-prime property portal, Vyomm, has looked at which are the most expensive roads for property across prime central London.
Vyomm looked at Land Registry sale records over the last year to find London’s most prestigious roads based on house sold prices. Excluding anything with less than five transactions, Vyomm looked at the average sold prices across these roads to highlight which are the pinnacle of London homeownership when it comes to price tag.
Top of the pile and arguably one of prime central London’s most iconic streets is Knightsbridge. Located in the City of Westminster and right by Knightsbridge tube station, running parallel to Hyde Park, the road saw 15 transactions over the last year with an average sold price of just under £16m.
The second most expensive is Ashburton Place. The small roadway between Clarges Street and Bolton Street has seen 21 apartments sold in the development with an average sold price of £12.6m.
Campden Hill is the first street outside of the City of Westminster, located in Kensington and Chelsea. The road has pedestrian access straight into Holland Park and in the last year, there have been 27 transactions with an average sold price of £8.5m.
A stone’s throw down the road is Bedford Gardens with an average sold price of £7.4m while the prestigious Eaton Square in Belgravia ranks as the fifth most expensive at £7m.
Burnsall Street off the King’s Road is home to an average sold price of £6.9m, while property along Lansdowne Road in Holland Park goes for an average of £6.5m.
Marylebone High Street is the next most expensive (£5.7m) and Millbank on the bank of the Thames follows at £5.5m, with Elgin Crescent completing the top 10 with an average sold price of £4.9m.
Founder of Vyomm.com, Utsav Goenka, commented:
“Despite a fall in transactions and slower market conditions across the lower echelons of the market, London’s most prestigious locations continue to command a premium price tag.
As the pinnacle of high-end homeownership within the capital these roads are not only the most expensive in London but they remain some of the most sought after amongst buyers, with a consistent number of sales completing despite strong Brexit headwinds.
Regardless of what’s thrown at it, prime central London’s traditional property hunting grounds will always hold an appeal that far outweighs any temporary market upsets and as a result, property will continue to sell and for more than a pretty penny.”
|
Road Name
|
Average of Sold Price
|
Transactions
|
Borough
|
|
KNIGHTSBRIDGE
|
£15,593,900
|
15
|
City of Westminster
|
|
ASHBURTON PLACE
|
£12,619,048
|
21
|
City of Westminster
|
|
CAMPDEN HILL
|
£8,562,078
|
27
|
Kensington and Chelsea
|
|
BEDFORD GARDENS
|
£7,405,000
|
5
|
Kensington and Chelsea
|
|
EATON SQUARE
|
£7,092,143
|
7
|
City of Westminster
|
|
BURNSALL STREET
|
£6,904,600
|
5
|
Kensington and Chelsea
|
|
LANSDOWNE ROAD
|
£6,502,000
|
5
|
Kensington and Chelsea
|
|
MARYLEBONE HIGH STREET
|
£5,763,636
|
11
|
City of Westminster
|
|
MILLBANK
|
£5,570,000
|
6
|
City of Westminster
|
|
ELGIN CRESCENT
|
£4,973,591
|
11
|
Kensington and Chelsea
|
|
Source: Land Registry Price Paid Data (Jan-Dec 2018)
|
|||
You May Also Enjoy
Building Safety Approval Process Urgently Needs Fixing
Kickstarting Private Housebuilding is Key to Sector-Wide Recovery
Building the Wrong Homes Won’t Fix Homeownership
Compliance uncertainty leaves lift fire safety exposed in property sector
London rent affordability improves
