The 10 priciest streets for 2021 are all located in London, says Halifax
Halifax named Tite Street in Kensington and Chelsea the priciest address in 2021, adding that the top 10 most expensive streets were all located in London.
In fact, most of the streets can be found in Westminster or the borough of Kensington and Chelsea. A blue plaque marking the home where Wilde once lived was erected in 1954, more than 50 years after his death.
However, despite the average property on Tite Street being priced at just under £30m, this is five per cent lower than the £30.5m recorded for the most expensive street last year, which was Avenue Road in St John’s Wood, London.
According to the mortgage lender, the second most expensive street this year is Phillimore Gardens, near Kensington and Holland Park, with the average property price of more than £25m. Mayfair’s South Audley Street takes third place with houses costing more than £22m on average.
Halifax added that the South East of England also boasts some of the most expensive roads, such as South Ridge and East Road in Weybridge, with average house prices of over £7m and £6.8m respectively.
Outside the capital, the most desirable streets have seen prices rise at a faster rate than London as the pandemic pushed more people out of big cities in favour of bigger homes in more rural areas.
The average price of property on one of the 10 most expensive streets in the north of England and the West Midlands rose by 11 per cent in a year, said Halifax.
Prices in the North West typically increased by five per cent, followed by the East Midlands with a rise of four per cent. In comparison, London only saw a one per cent rise.
At the other end of the scale, prices of homes on streets in the South West fell by 15 per cent, while in East Anglia the average price dropped by five per cent.
Esther Dijkstra, mortgage director at Lloyds Bank, said: “London’s dominance of the top ten most expensive streets in the UK continues, with property prices on some of the most famous roads in the capital averaging £19m.
“Homes in the South East’s most expensive streets will set you back around £5.5m, and you’ll benefit from more rural locations all within commuting distance of the capital.
“However, much like house prices overall, homes in London have not experienced the same meteoric rise as other regions this year. Buyers with deeper pockets may be starting to look beyond the capital for their next grand home.”