16 Dec

Belgrave Square named as most expensive property area

Belgrave Square named as most expensive property area

Belgravia and Knightsbridge in London are the most expensive areas to purchase property, according to new research.

The most desirable area is Grosvenor Crescent in Belgrave Square and has been revealed in a study conducted by Lloyds Bank.

A typical Grade II listed building on the street costs an average of £16,918,000 - making it the most expensive address in England and Wales at the moment.

Five of the top ten most expensive streets were located in in the Belgravia and Knightsbridge areas of the City of Westminster. Eaton Square had an average property value of £15,520,000, followed by Chester Square at £8,282,000 in the Belgravia district. While Knightsbridge's most expensive area was Trevor Street.

Outside of the centre of the capital, the priciest streets were Cambridge Gate in Camden, which has an average property value of £6,670,000, Coombe Park in Kingston upon Thames at £3,515,000 and Lichfield Road in Richmond upon Thames at £2,863,000.

"London dominates the list of the most expensive residential addresses in England and Wales. As an international city, London has always attracted overseas buyers and in recent years the capital has been a magnet for ultra high net worth individuals," explained Andy Hulme, mortgages director at Lloyds Bank.

He added: "This has led to soaring demand for homes in the prime residential areas of central London and as a result values have grown significantly. For the first time since this survey began, there are three streets with an average property price of over £10 million."

The only address located away from the south of England and in the top 50 most expensive streets was Park Lane in Altrincham with an average property price of £2,494,000, followed by South Road, also in Altrincham at £2,025,000.

Top streets in Wales were mostly in Cardiff, with Rudry Road boasting an average price of £858,000, followed by Llandennis Avenue at £849,000, Hollybush Road at £739,000, Lisvane Road at £718,000 and Druidstone Road at £679,000.ADNFCR-1222-ID-801766291-ADNFCR

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