The most in-demand prime London streets bucking Brexit uncertainty

November 28, 2019

Leading London lettings and estate agent, Benham and Reeves, has revealed the capital’s prime and super-prime streets where buyer activity remains robust despite a wider market freeze due to an uncertain political landscape.

Benham and Reeves analysed property sales between £3m and £10m and £10m+ over the last 12 months to find the streets that remain hot for London’s high-end home buyers and how much they’re paying.

Prime London

In the last year, the prime market (£3m-£10m) has seen a total of 917 sales across London with an average price paid of £4.5m, and sales totaling £4.1bn.

The most sought after road in London at this level of the market is Blackfriars Road in Southwark with a huge total of 51 sales in the last 12 months totaling £227.5m – the largest total sales value.

Bishops Avenue in Barnet and Chiltern Street in Westminster rank second with 13 sales apiece, with Marylebone Lane, also in Westminster, and Campden Hill in Kensington and Chelsea, Water Lane in the City of London, Waterfront Drive in Hammersmith and Fulham and Young Street in Kensington and Chelsea also amongst the most in-demand with six sales each.

Campden Hill was also home to the highest average price per sale at almost £7.6m.

Super Prime London

At the very top end of the London market, there has been a total of 79 transactions in the last 12 months, averaging £17.2m a sale with a total of £1.4bn worth of property sold.

Ashburton Place in Westminster tops the table with six transactions, followed by Avenue Road, also in Westminster, with four transactions. Wilton Crescent in Westminster and Tregunter Road and Campden Hill, both in Kensington and Chelsea, have also seen three sales each in the last year.

Ashburton Place not only tops the table for transactions but is home to the highest average sold price at a staggering £27.5m, as well as the highest total value of property sold at £165.4m.

Managing Director of Benham and Reeves, Anita Mehra, commented:

“The continued political and economic uncertainty caused by our prolonged departure from the European Union has had an impact on buyer sentiment across London’s high-end market, and we’ve seen this caution lead to a fall in transactions and a decline in the price achieved during a sale to a certain extent.

However, to have seen as many as six sales transact over the ten million pound mark on one street alone is proof that London remains one of if not the most desirable market in the world, despite this tougher landscape.

In addition to this, it seems as though we have very much seen the bottom of the market over the last few months and there has already been a notable uplift in buyer and seller activity which is already stimulating the prime and super-prime markets.”

Prime London Streets – by number of sales between £3m-£10m in the last 12 months
Number of sales
Street
Borough
Average Price
Total value
51
BLACKFRIARS ROAD
Southwark
£4,460,554
£227,488,249
13
THE BISHOPS AVENUE
Barnet
£4,830,769
£62,800,000
13
CHILTERN STREET
City of Westminster
£4,363,969
£56,731,600
9
MARYLEBONE LANE
City of Westminster
£5,142,678
£46,284,100
6
CAMPDEN HILL
Kensington and Chelsea
£7,573,974
£45,443,843
6
WATER LANE
City of London
£5,071,917
£30,431,500
5
RATHBONE PLACE
City of Westminster
£5,879,828
£29,399,140
5
CARLTON HILL
City of Westminster
£5,380,000
£26,900,000
6
YOUNG STREET
Kensington and Chelsea
£4,160,000
£24,960,000
6
WATERFRONT DRIVE
Hammersmith and Fulham
£4,113,600
£24,681,600
4
REGENTS PARK ROAD
Camden
£6,069,875
£24,279,500
4
TITE STREET
Kensington and Chelsea
£5,744,610
£22,978,440
4
SOUTH STREET
City of Westminster
£5,568,750
£22,275,000
5
EATON PLACE
City of Westminster
£4,090,690
£20,453,450
4
ABINGDON ROAD
Kensington and Chelsea
£4,418,750
£17,675,000
917
All Sales
£4,569,742
£4,190,453,173
Super Prime London Streets – by number of sales at £10m and above in the last 12 months
Number of sales
Street
Borough
Average Price
Total value
6
ASHBURTON PLACE
City of Westminster
£27,568,085
£165,408,507
4
AVENUE ROAD
City of Westminster / Camden
£22,837,500
£91,350,000
2
ILCHESTER PLACE
Kensington and Chelsea
£21,425,000
£42,850,000
2
MOUNT STREET
City of Westminster
£21,250,000
£42,500,000
2
CHESTER SQUARE
City of Westminster
£20,294,250
£40,588,500
3
WILTON CRESCENT
City of Westminster
£17,666,667
£53,000,000
3
TREGUNTER ROAD
Kensington and Chelsea
£15,716,667
£47,150,000
2
HOLLANDGREEN PLACE
Kensington and Chelsea
£14,187,500
£28,375,000
2
MULBERRY WALK
Kensington and Chelsea
£13,750,000
£27,500,000
2
CHESTER TERRACE
Camden
£12,750,000
£25,500,000
2
LANSDOWNE ROAD
Kensington and Chelsea
£12,497,950
£24,995,900
2
EATON PLACE
City of Westminster
£12,245,000
£24,490,000
3
CAMPDEN HILL
Kensington and Chelsea
£12,105,208
£36,315,625
2
HORTENSIA ROAD
Kensington and Chelsea
£11,950,000
£23,900,000
2
HAMILTON TERRACE
City of Westminster
£11,300,000
£22,600,000
79
All Sales
£17,193,545
£1,358,290,052

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