The Most Expensive Street In Britian is?
The Property Rich List shows Britain’s most expensive street is once again Kensington Palace Gardens, West London, with an average price of £36million – which is 156 times the cost of an average British home.
Close to the Duke and Duchess of Cambridge’s home at Kensington Palace, the road has previously been nicknamed the Boulevard of Billionaires.
Martin Ellis, housing economist at the Halifax Bank, said: ‘In London, when you are talking about real prime areas, it’s foreign buyers who have been coming in and looking to invest.
Lawrence Hall, spokesman for Zoopla, said: ‘Only the super-wealthy can entertain the notion of living on the most expensive streets and they are paying as much for the address and the location as they are for the size and quality of the property.
'You can find magnificent mansions in other parts of the country for a similar price to even just average properties in areas like Kensington.
The Zoopla report also revealed that there are a record number of British ‘property millionaires’.
Nearly 325,000 homes are worth more than £1million – up by 80 per cent in four years and by a third in just 12 months.
Zoopla’s report conﬁrmed the gulf between property values in the north and the south of the UK housing market.
Many homeowners bought their property for a fraction of the current value decades ago and now discover to their delight that it is worth a seven-figure sum.
But many others are not so lucky. Their home may be worth more than £1million, but they have a super-size mortgage which means they have very little equity in the property.