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Average home £6.5m on UK’s most expensive street

by: Mortgage Solutions
  • 28/02/2011
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Average home £6.5m on UK’s most expensive street
The most expensive street in England and Wales is Victoria Road in Kensington in London, where the average home costs £6.5m, new research has shown.

According to property website Mouseprice.com, this is a rise from the street’s average value of £5m last year when Victoria Road emerged in 10th position.

It said that the jump in rankings could be explained by an extremely high sale price of over £11m in 2010.

Out of the 20 most expensive streets in London, 14 are located in The Royal Borough of Kensington and Chelsea.

Barnet is the borough that holds the second highest number of streets, with 4 entries on the top 20 list, while The City of Westminster came in third.

Neither Haringey nor Camden appeared in the rankings, despite being listed last year.

The website also reported that the average price value of the top 10 streets in each region has remained the same for the third year in a row, with London in the top spot and Wales at the bottom.

Also for the third consecutive year, 7 out of 10 regions in England and Wales have averages of over £1m.

Eight regions experienced value rises from last year, while the North West and Wales saw falls in their average value from last year. London’s average increased from £5,545,900 to £5,946,580 in the past year.

A spokesperson for Mouseprice.com, said: “London has always been an expensive place to live. It is the finance centre of the UK and where all the jobs are, so this helps push prices upwards. 

“London properties often lack space. Having green space outside or close to the property helps command a premium price,” she added.

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