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Mapped: the £1 million streets across England and Wales

Find out which streets have the highest average house price

Every region in England and Wales now boasts a street with an average property price above £1m – while six London streets top £10m. So, where can you find the millionaire’s row in your local area?

New data from Lloyds Bank shows the streets in the England and Wales with the highest average house price, as well as the priciest in each region.

Which? maps out where the most expensive streets can be found, as well as explaining how you can spot a street likely to grow in value.

 


Top 10 priciest streets in every region

It’s no secret that house prices vary dramatically across England and Wales – but now every region has at least one street with an average house price above £1m, Lloyds’ data found.

The research identified the top 10 most expensive streets in each area.

Within most regions, all top 10 have an average price above £1m – namely in East Anglia, Greater London, North West, South East, South West & West Midlands – while eight out of the top 10 in Yorkshire are £1m plus.

In Newcastle Upon Tyne, by contrast, just three of the most expensive streets break the million-pound mark – Runnymede Road, Montagu Avenue and Elmfield Road. Prices in the East Midlands are at a similar level, with just Warren Hill, Croft Road and Caldecott Road breaching £1m.

Wales had the fewest high-price streets, with just Swansea’s St Anne’s Close boasting an average price of £1,029,000.

You can see the top 10 for each region on our map.

Or, search for your local region on our interactive table.

Six London streets break £10m average

The six most expensive streets in the UK were all in London boroughs Westminster and Kensington & Chelsea – and property prices in the capital’s most-exclusive addresses are truly eye-watering.

Grosvenor Crescent, the country’s most expensive location, is nestled between Hyde Park and Green Park, a short stroll to Buckingham Palace. But royal neighbours come at a steep price tag – the street has an average price of £16,918,000.

Five other streets in London have average prices over £10m, including Ilchester Place, Eaton Square, Chester Square, Carlyle Square and Kensington Road.

Rounding out the top 10 were two streets in Weybridge in the South East, another in London’s Richmond and a street in Oxford.

Search the table below to find the top 20 most expensive streets in the UK.

How much does it cost to buy a £1m home?

Finding a cool million to splash on a property is one task, but the costs don’t stop there. Taxes and legal fees could add more than £45,000 to the cost of buying a £1m home.

Using figures gathered from the Which? Conveyancing service, these are the fees you’d face buying a £1m home. This doesn’t include the actual cost of using a property solicitor, which could be between £1,000 and £3,000.

Mortgage lender’s legal fee
£140
Stamp Duty Land Tax Return Preparation Fee
£95
Bank transfer fee
£38
VAT £54
Land Registry fee
£455
 Searches before exchange
£289
 Land charges bankruptcy search
£8
 Searches before completion
£3
Stamp Duty Land Tax
£43,750
Total £44,832

 

What makes a street grow in value

When you’re house-hunting, finding the best location is key – even if you don’t have millions to splash on a new home.

Buying on an up-and-coming street may pay off for you in the long-term as rising prices boost your equity. This may mean settling for a less-exclusive address in an area that seems to be on the up.

Then again, expensive areas tend to be desirable for a reason, and may hold their value longer in a property downturn.

You may want to avoid buying in the most expensive street in town, as prices may have hit a ceiling and have little room to move. If you like the look of a exclusive address, consider searching for homes one block over – often the prestige of being the ‘best street in town’ inflates prices.

Streets that are growing in value tend to be those that suit the local demographic best, as demand from buyers will drive up values.

In an area popular with young couples, or single professionals, properties with great transport links, close to nightlife and shops, might be growing fastest. By contrast, if the area primarily attracts families with children, streets close to well-rated schools with safe play areas and low traffic are likely to be more popular.

A few other factors to consider when evaluating whether a street is likely to grow in value:

  • Skips and scaffolding: do other residents seem to be undertaking renovations? This may give your area a facelift
  • Planning permissions: is there anything in the works that might boost the value of your street – or detract from it? A new shopping centre at the end of your road, for example, may nudge up prices – but only if traffic isn’t likely to dramatically increase
  • Thriving nearby areas: are prices in a nearby area rising rapidly – and does yours look similar? Your property price may benefit from spillover, as buyers are priced out of the hotspot and look further afield.

To find out more, read our guide on finding the best area to live.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Which? Limited is an Introducer Appointed Representative of Which? Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 527029). Which? Mortgage Advisers and Which? Money Compare are trading names of Which? Financial Services Limited.

Categories: Money, Mortgages & property

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