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Where is the most expensive street in London to live?

Is the UK’s most expensive street 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.

Which is the most expensive street in London?

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.

Check approximate values for any property in London using our property calculator.

Top 10 highest value streets in London charted

RankStreetAverage value3 month rise/fall12 month rise/fallRecently SoldAddressMap linkSold price3 month rise/fall12 month rise/fallMonthly rentMonthly billsPhoto
1Kensington Palace Gardens, London W8£34,649,799-1.49%-5.58%Details10 Kensington Palace Gardens, London W8 4QPMap£57,423,000-£1,050,550-£7,033,600£150,800£138,215View
2Grosvenor Crescent, London SW1X£20,801,607-0.86%0.11%Details5 Grosvenor Crescent, London SW1X 7EEMap£34,426,000-£598,750£1,202,100£118,100£82,952View
3Courtenay Avenue, London N6£20,220,708-3.83%-1.43%DetailsBeaulieu, Courtenay Avenue, London N6 4LPMap£30,936,000-£383,750-£183,700£91,400£74,440View
4The Boltons, London SW10£14,981,549-0.55%-0.74%Details2 The Boltons, London SW10 9TBMap£14,886,000-£124,500-£1,616,400£47,650£36,159View
5Ilchester Place, London W14£14,971,955-1.14%-4.45%Details2 Ilchester Place, London W14 8AAMap£14,992,000-£120,550-£1,077,500£44,600£36,396View
6Compton Avenue, London N6£13,018,623-1.43%-3.83%DetailsCompton House, Compton Avenue, London N6 4LBMap£11,360,000-£140,950-£691,750£33,550£27,473View
7Albemarle Street, London W1S£12,094,416-1.00%-3.60%DetailsFlat 1, 26a Albemarle Street, London W1S 4HYMap£14,557,000-£52,950-£859,050£49,350£35,152View
8Cottesmore Gardens, London W8£11,607,347-1.49%-5.58%Details4 Cottesmore Gardens, London W8 5PRMap£22,349,000-£356,900-£2,535,300£60,200£53,945View
9Manresa Road, London SW3£11,564,934-0.55%-0.27%Details1 Manresa Road, London SW3 6LRMap£14,544,000-£13,300-£99,600£51,350£35,337View
10Frognal Way, London NW3£11,399,974-1.96%-0.90%Details20 Frognal Way, London NW3 6XEMap£5,438,000-£134,500-£57,650£17,430-£13,149View

How about the most expensive house in the UK, is that also in London?

One Hyde Park London SW1X 7LJ
One Hyde Park London SW1X 7LJ

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.

Main Image By Kbthompson at English Wikipedia, CC BY 3.0, Link

Where are the 8 best places for Brits to live abroad?

8 of the best places for Brits to live abroad

According to the BBC, approximately one in ten of us Brits live outside the UK. In 2016, just under 4000,000 people left the UK compared with under 300,000 in 2015 (University of Oxford Migration Observatory data).

Those seeking a new start overseas list the following criteria most important when selling their property, packing their cases and moving abroad:

  • Better quality of life.
  • Career progression.
  • Family Ties.
  • Economic stability.
  • Lifestyle change.
  • Politics as reasons for moving.

We have a list of the top eight places to head to, read on for some inspiration.

Canada

Canada tops the table when it comes to quality of life. According to the U.S. News & World Report 2018 Best Countries, this North American destination is the No1 choice for a higher quality of life by taking into consideration – affordability, job opportunities, economic stability, income equality, suitability for families, political security, safety, education and health.

Compiled by the University of Pennsylvania and BAV Consulting, the report researched 80 nations, scoring them each on 65 separate attributes, ranging from gender equality to levels of state corruption. Canada also ranks highly for being business-friendly, entrepreneurial, modern, family-centric, retirees, green living and equality. According to Forbes, Canada is renowned for friendliness, and has been less affected by the 2008 financial crisis than its neighbour, offers more opportunities for employment and business growth. For those who love the outdoors, Canada is an excellent option for relocating.

Scandinavia

Often applauded for their contented approach to life, Scandinavian countries boast low unemployment and crime rates, but high rates of satisfaction and happiness.

Denmark was No 2 in the Best Countries list, with Norway and Sweden coming up close behind. However, these countries are also in the top 10 most expensive places to live (Numbeo’s Cost of Living Index 2018), taking into account almost 50 factors including cost of transport, accommodation and eating.

Spain

according to Numbeo, One of the cheaper spots in western Europe to live, (by far the more affordable being the majority of eastern Europe), Spain has been a long-time favourite of British expats; according to a report by the UN over 300,000 Brits live here. With great weather, a relatively low cost of living and a more gentle way of life, hoards of Brits are popping across the channel to take advantage of the Spanish heat.

In particular, it’s popular for older Brits seeking a sunnier retirement. Spain boasts breathtaking architecture, beautiful beaches, historic cities and diverse culture, as well as being accessible from most airports in the UK. Many Spanish do speak English, but if you’re planning on relocating there on a permanent basis it might be a good suggestion to pick up a Spanish phrase book, si?

Switzerland

Famous for mountains, chocolate and cheese, Switzerland actually wins the award for the overall best country. The Balance nominated it as the 2nd best country in the world to work in, not surprising with an average annual income of circa £41,000, plus a good work-life balance and low unemployment.

Switzerland is well renowned for its unspoilt beautiful scenery, leisure activities like skiing and quaint culture, all making it a trendy winter destination. Switzerland also ranks among the top 10 best countries in the world for education, women’s rights, green living and equality. It is also listed highly as a destination to raise children, so if you are planning on moving as a family, it’s perfect.

But while Switzerland boasts an impressive lifestyle, it all comes at a cost, with it being labelled Europe’s most expensive country to live in (and 2nd most costly worldwide). However, if you have money to spare, Switzerland could be the perfect country for you.

Costa Rica

According to the Happy Planet Index, Costa Rica is the happiest country in the world, apparently, nothing to do with its beautiful wildlife, idyllic beaches and stunning scenery like the gorgeous Rio Celeste waterfall. Costa Rica is both an adventurer’s dream and a peaceful paradise.

The average life expectancy in is over 79 years, which is higher than the USA and the South American nation’s literacy rate is also high at 97.8 per cent.

Ireland

Another trendy destination for UK migrants, Ireland has become home to over 280,000 UK expats. Its proximity to the British Isles makes it perfect for those wanting to move there but may want to stay reasonably close to friends and family.

Ireland boasts beautiful countryside, often featured in the favourite TV series Game of Thrones. Ireland is a country, full of charm, music, beauty and tradition, beloved by visitors the world over.

Germany

The 2nd most populated destination in Europe, Germany has become more popular as a destination for UK expats; it has the 4th largest number of Brits, just behind Spain, Ireland and France. It also ranked 3rd for the best country.

Germany is a great place to move for individuals with a smaller budget and has proved popular with millennial Brits. On average rent in Berlin accounts for a quarter of the average German salary, compare that with rent in Copenhagen, which accounts for nearly a 3rd of monthly earnings. Germany is a popular destination for businesses and creatives and is renowned for being a welcoming and hospitable.

New Zealand

Another increasingly popular spot for Brits moving overseas is Australia’s closest neighbour. Mercer’s Quality of Living Ranking 2018, reports the capital city Auckland as the 3rd best city in the world to reside.

It is a friendly country, with 80 per cent of expats living there report it an easy place to settle in. People love the friendly culture and amazing scenery that meets them on arrival. And good news, New Zealand is relatively easy to move to; many of its industries need skilled workers to fill many roles.

In 2016, the town of Kaitangata hit the headlines by launching a recruitment drive to attract new residents – with an unusual issue of having too many affordable homes and too many jobs, but not enough takers to fill them.

If you prefer to stay in the UK, then check out our top ten cheap but charming towns in the UK!

Emigration – Top ten tips to emigrate stress and hassle free

Emigrating? Read our top 10 tips on how to best to emigrate stress-free

We hear lots about immigration, but little about emigration – people leaving the UK, emigrating to Australia, New Zealand or even further afield!. Immigration is always going to achieve headline news, but emigrating receives little or no interest in the press, which is surprising when it affects so many UK households.

In 2016, just under 340,000 Brits left the UK compared with only less than 300,000 in 2015. That’s a lot of house moving. In 2017, the figure is slightly higher at 350,000 with net migration at 273,000 in the year ending June 2018.

Here we’ve collated our top 10 hassle-free emigration tips!

  1. Sell your home

No.1 priority is to sell your existing property to fit within your relocation timeframe.

First, get your property valued.

Try some valuation alternatives:

  1. Online valuation tool – easy to do, fast results.
  2. Estate agent – slow, but they have good local knowledge.
  3. Cash valuation – fast service.

Next, decide which best suits your situation and get your property sale moving.

Owners with a 6-12 months relocation window should expect to receive full market value. Those with shorter timescales need to consider accepting less to complete the sale in time.

  1. Ask for help

If job relocation is the reason for emigrating, then ask your new employer if there is any help to cover some or all of your moving costs.

Most employers (especially large ones) do offer a relocation package, so don’t lose out.

  1. Collect packing materials

Each time you go to the supermarket ask at the customer service desk for any boxes they have left after filling their shelves. These are often quite small, but they are better to use as larger boxes can be heavy once filled and breakages can quickly occur. Wine boxes with segregated sections are also better for packing glasses and ornaments.

Collect materials like old newspapers, old sheets and blankets – these are a great way to protect your valuables and furniture.

  1. Do a packing timeline

Start early by creating a plan of attack. Get organised.

  1. Important boxes

Keep one box to the side where you can keep all of your essential items such as keys, documents, toiletries, medicines and everything else you’ll need until the minute you leave home. Keep this box safe so you can access any item when you reach your final destination.

Also, have an “Open First” box – think about what items you’ll need to access first when you get to your new destination. Things like tea/coffee, cups, toilet paper, cleaning materials, towels.

  1. Label boxes

Mark each box with a big marker noting its contents and which room it belongs in.

  1. Clean as you pack

Give each area a thorough clean immediately after clearing which makes for a more efficient move avoiding having to clean the entire property on moving day.

  1. Keep it eBay, Charity shop, ‘Trip to the tip’

While you box everything up, separate your junk and charity shop items into boxes. Moving home is a good opportunity to clear the stuff that accumulates over the years.

  1. Alternative to removals

It may be financially beneficial to do away with removals altogether and buy everything new at the other end.

Consider the cost of hiring a removal company to haul your stuff across the UK or abroad, versus what it would cost to buy new at your new destination.

  1. Don’t buy until you’ve moved in

When arriving at your new home take the time to unpack and unwind. Don’t run out immediately to buy new fixtures and furnishings.

Allocate time to sort your stuff and set up home. If you rush off the first week you’re in your new home it will likely lead to buying unwisely, especially on items that you don’t need.

The only shopping you need to do in the first few weeks is the supermarket!

Your property rights – splitting the house if you split up

How do you split the house if you split up, what are your property rights?

What property rights do you have when splitting up from partner or spouse?

Splitting up is never an easy thing. It can be even harder if you have a house together with a mortgage – but do you know your property rights?

Top 1o reasons couples split:

  1. Bad behaviour – smoking, drinking, betting, etc
  2. Cheating – was it a kiss or a full-blown affair
  3. Misdirected anger – you’ve had a bad day, now everyone must suffer
  4. Being unsupportive – work as a team, or it won’t work
  5. Toxic people – may be a control issue or a negative influence
  6. No affection and attention – listening, hand holding, cuddling, (and yes, sex)
  7. Lying – do it, and your mate will lose all trust in you
  8. Stealing – financial issues account for over 30% of divorces
  9. Giving up – it’s what happens when you don’t put the hard work in
  10. Not communicating – the more you talk, the better you will feel

Infographic – Top ten reasons why couples split up

Here’s a quick guide on your legal rights if you split up from your other half and own a property together, mainly if you want to sell it.

Property Rights – Joint Ownership

If you and your partner both have your names on the title deeds, then you jointly own your home, in which case you have equal rights over the property.

In this situation your options are as follows:

  • > Sell the property, divide the proceeds
  • > One buys the other out
  • > Transfer some or all your interest in the home to your partner
  • > Keep the home and rent it out

There are two ways you can have joint ownership:

  1. Joint Tenants – both parties have a 50/50 equal share in the property.
  2. Tenants in Common – one party has more of a share than the other. If you and your partner/spouse split up and want to end the Joint Tenancy, then you need to write to your ex to inform them. However, they don’t have to agree to go along with it.

Another route is for one party to come off the mortgage – leaving it in just one name which is only possible if the person remaining on the mortgage can afford the repayments on their own. However, it can be beneficial to the person coming off the mortgage as they will no longer be responsible for future repayments and they can apply for another mortgage on another property. If you go down this route, then you also need to ensure that your credit files are separated too, as any future debts or loans could personally affect you, and vice-versa, if you remain connected.

If you remain on the mortgage, then it is wise to contact your mortgage lender to explain that you and your partner/spouse have separated. Doing this will prevent your either party from taking cash out by increasing the mortgage on the property or even taking out other loans on the property without your knowledge or consent. They can also help you if you’re unsure you can manage the payments as you no longer have your partner/spouse contributing towards it. One way is a ‘guarantor mortgage’ – it allows a close friend or relative to pay your mortgage payments for you if you find yourself struggling.

If the Property is in One Person’s Name

If your property is in just one name, then the other person has no rights over the property or any money from the sale after the mortgage has been paid off.

However, if you have paid part of the mortgage, or towards any improvements to the property, then you are eligible for a ‘beneficial interest’ in the home. If you claim this, then you may be entitled to continue to live in the property and even get a share of the proceeds when it sells.

Note: this is a very complicated legal area, and we recommend that you first seek advice from a legal practitioner.

Should you and your partner/spouse decide that selling your home is the best option, then Flying Homes can help. Our buyers will offer you a fair cash sum and can complete in your timescales. All parties legal fees are usually included, so that’s another thing off your mind and you won’t have to worry about property chains!

If separating or divorcing then read more here.

Great communication can avoid a break in your property chain!

Is there a weak link in your property chain?

A property chain occurs when buyers and sellers are linked together because their purchase or sale is dependant on another transaction further down the chain. Often these chains can have dozens of parties connected. It’s difficult to assess the average property chain length; it can vary from three to ten or more!

If only one person forgets to do something, be refused their mortgage or pull out because they’ve changed their mind for the whole chain to be delayed or collapse.

When you’ve spent months getting to the point of completion, this can be devastating news. It can also be costly, on average the loss to a vendor, (incremental legal fees, utility bills, mortgage payments, etc.) is just under £3,000. And of course that’s not taking into account the cost to your health – you can understand why moving house cited as the number one stress in the UK.

The top 10 reasons for a collapse in a property chain:

  1. Mortgage funds refused
  2. Survey throws up a problem
  3. Buyer changes their mind
  4. The seller can’t find another property
  5. Buyer reduces their offer last minute
  6. The seller receives a better offer
  7. Seller changes their mind
  8. Buyer or seller illness or death
  9. Seller divorce or separation
  10. Conveyancing delay

What can you do to stop your property chain breaking?

There isn’t a lot you can do if there is a problem somewhere along the chain, but you can minimise any issues by making sure sellers, buyers, estate agents and solicitors dealing with the legal process, are all up to date and in touch with each other.

  1. Get a good solicitor or conveyancer who will chase your buyers or sellers solicitors to ensure nothing is outstanding at every stage of the process.
  2. Make sure your mortgage offer, if required, is ready promptly as securing mortgage finance and the offer is a critical part of the process.
  3. Ensure the Estate Agent is aware of all the participants in the property chain, to chase up.
  4. Check any survey issues quickly on any house you are buying or on your own home, if a buyer is purchasing it.
  5. Check with your mortgage Company if there are any retentions from mortgage offers, and ask buyers to do the same.

In 2018 just under 40% of property sales fell through, which equals over 300,000 transactions a year! One-third of those failed sales were attributed to the buyers failing to get their finance approved, with 69% due to the buyer pulling out.

Some more FAQ for Property Chains

What does chain free mean when buying a property?

Chain free when buying another property means that your purchase is not dependant on anyone else selling or buying a house which is the same as no chain.

How can I avoid a property chain?

The simplest way of avoiding property chains if buying, is to limit your search for as home to chain free property for sale. And if selling then restrict the sale of your home to a cash buyer or someone who does not need a mortgage or has no property to sell (often a first-time buyer).

What can I do when a property chain breaks?

If any part of the chain breaks, then make sure the estate agent remarkets the property quickly, possibly at a reduced price to find another buyer and minimise delays. If the break is your purchase or sale, then likewise, move quickly to find another property or find another buyer.

Flying Homes encounter such scenarios daily, approximately 30% of our property purchases are from broken property chains.

6 amazing tips for selling your home in the Autumn months

Flying Homes – 6 amazing tips to sell your home in Autumn

Early autumn is widely regarded as one of the best times of year to sell your house. With summer over and kids back at school and holidays a distant memory, this is a time when home buying once again becomes a priority for many people. Christmas is still several weeks away, and people are more likely to find the time and money required for buying a house.

If you’re planning on selling your home during the autumn months there are a few steps you can take to ‘stage’ your property for the market.

1. Tend to Your Garden

Tidy up Autumn leaves with a rake when selling your home

Autumn is a time of real change. The temperatures can fall rapidly as winter approaches, and the trees start to lose their leaves. To ensure your garden always looks it’s very best, ensure you are raking up dead leaves on a regular basis. Your lawn and the weeds in your garden will continue to grow until the latter stages of the autumn, so it’s important to keep on top of the situation. Take the time to ensure that any dead flowers and plants removed and that any trees and hedges trimmed – particularly if they are blocking the flow of light into your home.

2. Create ‘Kerb Appeal’

chrysanthemums

Despite the changing weather and the falling temperatures, you can still take steps to ensure that your home looks fantastic during the autumn months. Planting some chrysanthemums will add a splash of colour, and marigolds also thrive at this time of year. The autumn is usually a good time to attend to any repairs, so remember to check your roof, brickwork, windows and guttering for damage. There will probably be hundreds of similar properties for sale in your area, so spend a little time ensuring yours looks fantastic from outside.

3. Maintain a Comfortable Temperature

Closeup of family feet in wool socks at fireplace

Autumn in the UK is notoriously changeable, and temperatures can fluctuate significantly from day to day. Before the worst of the weather arrives, ensure that your heating system has received its annual servicing. Try to maintain a constant temperature of 20C in your home, and pay particular attention to this on days when you’re hosting viewings. Prospective property buyers will be acutely aware of a home that is sweltering or cold.

4. Take Some Eye-Catching Photos

Building in Copenhagen with bright colored leaves showing the change of summer into autumn.

The colours of autumn are often spectacular particularly if trees surround your house. Take some photos of your property with the oranges and browns of autumn as the backdrop. Estate agents will usually take care of this, but you may need to give them a little nudge.

5. Light Up Your Home

3D rendering of evening living room of chalet

The days get shorter very quickly during the autumn, so it’s important to make the best use of light wherever you can. When the sun lowers in the sky, wider shadows cast and they can leave the rooms in your home looking dull, and in some cases, smaller. Ensure all your curtains and blinds are opened completely to make the best use of natural light and give all your windows a thorough clean. You should also utilise all the lights in your home to create bright and vibrant living areas. If necessary, you should consider the addition of some extra lamps and spotlights to brighten up shadier areas of your property. Selling houses requires careful staging, so make sure your entire property is bright and welcoming throughout.

6. Add Some Autumnal Tones

Autumn leaves In a colour palette with complimentary colour swatches.

It’s always a good idea to add colours to your home that are appropriate to the season. Autumnal colours include deep reds, browns and oranges, so introduce them either through a little redecoration or the addition of some soft furnishings and fixtures. You could also create an autumnal centrepiece for your mantel or table with orange and red candles, pine cones and nuts.

Autumn is an excellent time of year for home sellers to market their property. However, if you need to sell your house in the autumn, staging it in a way that complements the season could deliver a quicker sale at a higher price. For tips on selling during the seasons of Spring, Summer & Winter, click here.

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