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Egerton Crescent, London, Revealed As Most Expensive Street In England And Wales (PICTURES)

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EGERTON CRESCENT
Egerton Crescent is the most expensive street in England and Wales | GOOGLE MAPS

Egerton Crescent in south-west London is the most expensive street in England and Wales, with homes there typically costing a cool £8.1 million, a study revealed on Friday.

Nestled just a stone's throw from the Victoria and Albert Museum (V&A) and Harrods, the street is one of six located in the London borough of Kensington and Chelsea which are all in the top 10 list compiled by Lloyds TSB.

House prices in central London have continued to shoot upwards over the past year amid strong interest from wealthy overseas buyers looking for a safe haven amid the uncertainty of the eurozone.

However, some analysts have suggested that a 7% stamp duty rate which was placed on homes worth over £2 million in the spring could cause the market to cool off slightly next year.

Merton in south-west London also claimed two places in the top 10 list. Parkside, skirting Wimbledon Common, came in second place with an average property price of £5.2 million.

Campden Hill Square in the heart of London's Holland Park, which was last year's most expensive street, was pushed into third place this year, with an average price of £4.9 million.

campden hill

Campden Hill Square was knocked from the top spot

Commenting on the dominance of Kensington and Chelsea, Nitesh Patel, an economist at Lloyds TSB, said: "In recent years, its prime location in central London and classical architecture has attracted affluent celebrities and ultra wealthy foreign businessmen, helping to drive up property prices.

"Across most regions, the most expensive streets are typically tightly clustered."

Away from the English capital, the most expensive streets include Woodlands Road West in Virginia Water, Surrey, where homes are worth £3.2 million on average and Leys Road in Leatherhead, also in Surrey, where homes have a £3 million price tag.

Outside southern England, the most expensive street is just south of Manchester, in Park Lane, Altrincham, with an average house price of £2.1 million.

The most well-heeled streets in Yorkshire and the Humber are located in the "golden triangle" between Harrogate, Wetherby and north Leeds.

The region's most expensive streets are Rutland Drive in the spa town of Harrogate, with average prices of £1.1 million and Wigton Lane in north Leeds at £1 million typically.

The most expensive street in Wales is Druidstone Road in Cardiff with an average house price of £682,000, followed by Gannock Park in the village of Deganwy in Conwy, where homes typically cost £636,000.

The study used Land Registry records of sales which took place between January 2007 and September this year.

Click the gallery below to see the 10 most expensive streets in England and Wales, with their postcode and average house price according to Lloyds TSB.

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