Property portal Rightmove’s September figures show a 4.9% annual increase in house prices in Greater London.
London is a leading world-class city, and living here comes at a price. The top 10 most expensive streets to buy property in the UK are all in exclusive areas of London. The property rich list has an enduring fascination with different reports popping up each month. The ranking of the most expensive addresses may differ from report to report; however, the same names crop up again and again.
According to the Zoopla’s report in October 2020, Kensington Palace Gardens (W8) is the most expensive street and has held this accolade for the last 12 years. Homes on this street are worth £36 million on average. The road is home to steel tycoon Lakshmi Mittal and Chelsea football club owner Roman Abramovich and is adjacent to Kensington Palace, home of the Duke and Duchess of Cambridge.
Courtenay Avenue in Highgate, north London takes second place with homes worth £18.6m on average price. Grosvenor Crescent in Belgravia takes third place with an average house price tag of £17.6 million.
Where are the most expensive places to live in London?
The three most expensive boroughs in London are Westminster, Kensington and Chelsea and Camden. These premium districts with beautiful architecture, grand properties and celebrity residents rarely move from the top slots.
Exclusive Westminster, home to London’s foremost landmarks, has an average sale price of just over £3 million. Second on the list is Kensington and Chelsea, this area is always popular with affluent home buyers and property investors. Seven out of the ten priciest streets in London are located in this borough.
Camden, at the heart of London, is slightly more affordable than Westminster and Kensington and Chelsea but with sky-high property prices, remains out of reach for the majority of home buyers.
Hammersmith and Fulham with its stunning Thames side properties is fourth on the list. Here average property prices are £964,000. Followed by Hackney, where fashionable Shoreditch brings average prices to £933,000.
The 10 most expensive London boroughs
1) Westminster – £3,099,172
2) Kensington and Chelsea – £2,080,134
3) Camden – £1,858,738
4) Hammersmith and Fulham – £964,013
5) Hackney – £933,006
6) Richmond upon Thames – £838,527
7) Lambeth – £834,518
8) Wandsworth – £803,319
9) Islington – £796,275
10) Barnet – £695,152
Are you wondering how much your property is worth?
If you own a property in the premium London real estate areas of Belgravia, Knightsbridge, Chelsea, Mayfair, Westminster, South Kensington and Victoria, contact Best Gapp today. We will arrange for one of our highly experienced property consultants to provide an accurate valuation and explain how best to market your apartment or house to achieve the best possible sale price.