Most expensive roads to live in Britain 2023: London’s Grosvenor Square takes top spot
- Halifax has published its annual list of the most expensive streets in Britain
- Top of the list is Mayfair’s Grosvenor Square with average price of £20.35m
- Most expensive street outside of the capital is in Weybridge’s East Road
A square in the heart of London has been named as Britain’s most expensive place to live.
Mayfair’s Grosvenor Square leads the Halifax annual survey of the most expensive streets in Britain, with an average price tag of £20.35million.
Grosvenor Square is one of the largest squares of its kind in London, with a rich history that can be traced to the early 18th century.
In the past few weeks, the square has been lit up with more than 25,000 illuminated white roses in its ‘Ever After Garden’, where people can dedicate a rose in memory of a loved one, while making a donation to The Royal Marsden Cancer Charity.
Mayfair’s Grosvenor Square leads the Halifax annual survey of the most expensive streets in Britain, with an average price tag of £20.35million
Grosvenor Square has been lit up with white roses in its ‘Ever After Garden’ , where people can dedicate a rose in memory of a loved one, while making a donation to The Royal Marsden Cancer Charity
Heading west to the borough of Kensington and Chelsea in fashionable Notting Hill, Clarendon Road takes second spot with an average price tag just shy of the £20million mark, at £19.96million.
Making up the top three – and home to world-famous luxury shopping destination Harrods – is London’s Knightsbridge, where properties cost an average £19.95million.
If a home on one of London’ priciest streets is top of the Christmas list this year, deep pockets will be needed, with the average price tag now £14.5million.
With the average UK house price now £283,615, the costliest properties in the country are almost 72 times more expensive than a typical home.
The most expensive street outside of the capital is East Road, in Weybridge, where an average home will set buyers back more than £9million.
For a relative bargain, the priciest residences in Wales start from £1.3million.
Making up the top three – and home to world-famous luxury shopping destination Harrods – is London’s Knightsbridge, where properties cost an average £19.95m
Kim Kinnaird, of Halifax, said: ‘Buying any home is expensive and likely to be the biggest single purchase most people will ever make.
‘Purchasing a property on one of Britain’s most expensive streets comes with a colossal price tag and it’ll be no surprise that house prices in London continue to dominate, with the top ten priciest streets to buy a home all in the capital.
‘But the gap between the most expensive streets is vast, depending on the region you live in, with the average house price for the priciest properties in London topping £20million, compared to around £1.3m in the North East.
‘Even in the most expensive region outside of London, the South East, the top ten most expensive streets are, on average, £10million cheaper than their London equivalents.’
In London’s Phillimore Gardens, the average price of a property is £19.1m, according to Halifax
Guy Meacock, of buying agency Prime Purchase, said: ‘Most people would agree this has been a tough year for the property market but for the very big kit at the top end, which is highly discretionary, there has been a lot more activity than in the mainstream markets.
‘As a business, we have had a record year in London, our strongest in 21 years.
‘There have been big deals across the board in some volume and we have noticed a real surge in activity in the last quarter of the year in particular.
‘Sellers are starting to step back from unrealistic expectations with agents clearing properties off their books that have sat there for 18 months or more because they have been overpriced.
‘London has seen the return of international buyers in their droves, driven by dollar-denominated purchasers, and although these prices seem high, there has been value to be found.
‘That said, this data only tells part of the picture and it is always worth remaining fairly sceptical.
‘There is quite a lag as it can take time to get sales registered and they may not appear until some time afterwards. There are also deals done where prices can be shielded and not declared depending on how they are bought.
‘Strong markets in St John’s Wood and Notting Hill have perhaps not been fully reflected here, with the latter performing the strongest of all the central London markets certainly in 2022 and up to the middle of this year when it started to level off.
‘Addresses such as Lansdowne Road and Clarendon Road have seen some huge deals in excess of £30million.
‘The stats also don’t distinguish between new-build sales and second-hand sales. Often when things are bought off-plan they may not complete for a long time so those numbers are often not included.
‘There have been some very big transactions that clearly haven’t been picked up and reflected in this data.’
In London’s Ilchester Place, you’ll need to fork out an average of £17.6m to buy a property
Most expensive streets outside of London
The most expensive street in the North East is Ramside Park in Durham, where the average price of a property is £1,536,000. It takes the top spot in the region for the second year running.
Gubeon Wood, Morpeth – at £1,491,000 – remains in second place, followed by West Park Road in Sunderland, new in at third place at £1,297,000.
Old Hall Road in Windermere is now the most expensive street in the North West, with the average price at £4,015,000.
Withinlee Road in Macclesfield is in second place with an average price of £3,567,000, with Barrow Lane in Altrincham taking the third spot with an average price of £2,914,000.
Yorkshire and the Humber
The most expensive street in the region is once again Manor House Lane, Leeds, – at £2,320,000 -, followed by Fulwith Mill Lane, Harrogate at £1,936,000, and then Curly Hill, Ilkley, at £1,662,000.
In the West Midlands, Wellesbourne Road in Stratford upon Avon is priciest, with houses costing an average £2,044,000.
Kenilworth Close at £1,869,000 and Luttrell Road at £1,869,000 both in Sutton Coldfield are in second and third place in the region.
Croft Road in Nottingham, £1,694,000, is the most expensive street, followed by Warren Hill, Leicester at £1,615,000 and Melton Road, also in Nottingham at £1,600,000.
East of England
In the East, the top seven most expensive streets all have an average price of at least £3million.
Woodlands Road in Cambridge is at £3,832,000 and is top, followed by Astons Road in Northwood at £3,760,000, and then Newlands Avenue in Radlett at £3,606,000.
East Road in Weybridge is the most expensive street in the region with an average house price of £9,010,000, which is the highest outside of the capital.
It is followed by Westbrook Hill in Godalming at £8,960,000 and West Drive, Virgina Water in third place at £8,813,000.
Five of the top 10 most expensive streets in the South West are in Poole, Dorset with Lawrence Drive at £3,991,000 in first place and Mornish Road in second at £3,350,000.
Charlton Park Gate in Cheltenham is in third place with an average house price of £3,063,000.
Benar Headland in Pwllheli is again the most expensive street in Wales with an average price of £1,345,000, followed by Hanley Cwrt, in Usk, at £1,342,000 and Llys Helyg Drive in Llandudno at £1,153,000.
In the Welsh capital of Cardiff, the most expensive street is the brand-new development of The Rise at £1,106,000.
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