The UK’s most expensive street is in London?
Undoubtedly, the most expensive street in London is also the most costly in the UK. In fact, the top 10 London streets fill that accolade.
Where except London, can you find property after property all in a row, all with values in the tens of millions of pounds? And why stop at just the value of some of these properties? What about the running costs for properties in the most expensive road in London? And what if you were to rent one, what would be the rent you’d have to pay?
Check out the chart below, some of the numbers are staggering in what are some of the most expensive streets in London. Not just for the average street value, but some of the recently sold property prices of the rich areas in London, plus how much monthly running costs would be and potential rents that tenants would be expected to pay.
Top of the list is Kensington Palace Gardens, one of the properties is number 10, a house which has a monthly rental value over £150,000, and with monthly running costs in the region of £138,000. And remember, these figures are quoted per month!
That’s why the top 10 most expensive properties in London are also the top 10 in the UK – London always comes number one when compared to the biggest towns in the UK.
It’s not all good news for these affluent homeowners
But if you think it’s all good news for the residents of these streets, it’s not. There is a downward trend in property prices across all these areas of London’ and while the percentage shifts may look small, in real terms they represent some pretty hefty losses.
For example, 10 Kensington Palace Gardens, which recently sold for £57,423,000, has dropped in price by over £7,000,000 million in the last 12 months.
Next, take 5 Grosvenor Crescent, which recently sold for £34,426,000, dropped in value by £600,000 in the last three months alone! But it would still attract a monthly rental income of £118,100 with monthly bills of close to £83,000 on top.
Top 10 highest value streets in London charted
|Rank||Street||Average value||3 month rise/fall||12 month rise/fall||Recently Sold||Address||Map link||Sold price||3 month rise/fall||12 month rise/fall||Monthly rent||Monthly bills||Photo|
|1||Kensington Palace Gardens, London W8||£34,649,799||-1.49%||-5.58%||Details||10 Kensington Palace Gardens, London W8 4QP||Map||£57,423,000||-£1,050,550||-£7,033,600||£150,800||£138,215||View|
|2||Grosvenor Crescent, London SW1X||£20,801,607||-0.86%||0.11%||Details||5 Grosvenor Crescent, London SW1X 7EE||Map||£34,426,000||-£598,750||£1,202,100||£118,100||£82,952||View|
|3||Courtenay Avenue, London N6||£20,220,708||-3.83%||-1.43%||Details||Beaulieu, Courtenay Avenue, London N6 4LP||Map||£30,936,000||-£383,750||-£183,700||£91,400||£74,440||View|
|4||The Boltons, London SW10||£14,981,549||-0.55%||-0.74%||Details||2 The Boltons, London SW10 9TB||Map||£14,886,000||-£124,500||-£1,616,400||£47,650||£36,159||View|
|5||Ilchester Place, London W14||£14,971,955||-1.14%||-4.45%||Details||2 Ilchester Place, London W14 8AA||Map||£14,992,000||-£120,550||-£1,077,500||£44,600||£36,396||View|
|6||Compton Avenue, London N6||£13,018,623||-1.43%||-3.83%||Details||Compton House, Compton Avenue, London N6 4LB||Map||£11,360,000||-£140,950||-£691,750||£33,550||£27,473||View|
|7||Albemarle Street, London W1S||£12,094,416||-1.00%||-3.60%||Details||Flat 1, 26a Albemarle Street, London W1S 4HY||Map||£14,557,000||-£52,950||-£859,050||£49,350||£35,152||View|
|8||Cottesmore Gardens, London W8||£11,607,347||-1.49%||-5.58%||Details||4 Cottesmore Gardens, London W8 5PR||Map||£22,349,000||-£356,900||-£2,535,300||£60,200||£53,945||View|
|9||Manresa Road, London SW3||£11,564,934||-0.55%||-0.27%||Details||1 Manresa Road, London SW3 6LR||Map||£14,544,000||-£13,300||-£99,600||£51,350||£35,337||View|
|10||Frognal Way, London NW3||£11,399,974||-1.96%||-0.90%||Details||20 Frognal Way, London NW3 6XE||Map||£5,438,000||-£134,500||-£57,650||£17,430||-£13,149||View|
How about the most expensive house in the UK, is that also in London?
The most expensive home in one of the posh areas of London has just changed hands for £160 million. And it’s not even a house, it’s an apartment. The stamp duty alone was £20 million!
The penthouse apartment in question is situated in one of London’s most exclusive developments and has become Britain’s most expensive home.
Located at One Hyde Park in Knightsbridge, the most expensive house in London is spread over the top two floors and boasts wine cellars, underground parking via a glass and steel car lift and balconies with views over Hyde Park. Harrods is metres from the front door of the building, and the five-star Mandarin Oriental Hotel next door offers room service for the building’s residents.
The interiors are extravagant, with padded silk corridors, European-oak floors, chandeliers and bulletproof windows. SAS-trained security guards, in bowler hats, patrol the property. One Hyde Park was built by London property developers, the Candy brothers back in 2007. They bought the land for the complex of 86 apartment for £150 million in 2004.