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Abu Dhabi, UAEMonday 24 September 2018

Revealed: Britain’s most expensive street has £17m homes

Grosvenor Crescent, in the heart of London’s Belgravia, was the most expensive residential street in England and Wales

Mayfair is home to some of the most expensive properties in Britain. Four Seasons Private Residences
Mayfair is home to some of the most expensive properties in Britain. Four Seasons Private Residences

Britain’s most valuable property location has been revealed in a survey published by one of the country’s top banks. The list put together by Lloyds Bank found that Grosvenor Crescent, in the heart of London’s Belgravia, was the most expensive residential street in England and Wales, with an average house price of £16,918,000.

The Grade II-listed homes on the crescent, which were built between 1837 and 1860, maintained their price from last year, but the nearby Eaton Square – which sat on top of the table last year – has seen more than £3m wiped off the value of individual properties in the last year, with the average price falling to £13.5m.

The insecurity around Brexit and changes in Stamp Duty is blamed for a slump in values across the high-end central London market.

According to the survey, there is a “million-pound street” in every region of England and Wales now, from Newcastle to Poole.

The six most expensive streets are in Westminster and the royal borough of Kensington and Chelsea, which have average price tags of more than £10m.

There are 28 houses and flats on Grosvenor Crescent. An eight-bedroom townhouse sold for £25m in 2012 and, according to property website Zoopla, could now retail at £35m.

An apartment on the street is worth over £18m; it boasts a swimming pool, gym and private courtyard.

Outside of the capital, seven of the top 20 most expensive streets Surrey, with three alone in the suburban town of Weybridge where prices are between £3.9m and £5m.

A street in Sandbanks in Poole, Dorset, was 20th, with an average price of just under £2.4m, was 20th in the table. Cheshire’s ‘Golden Triangle’ favoured by footballers and celebrities saw homes sell for an average of £1.9m.

Andrew Mason, Lloyds’ mortgage products director, said: “As expected, addresses in London and the south-east top the list of most expensive places to live. Away from London, the survey shows that the most expensive streets are tightly clustered within Cheshire, Yorkshire and the Humber, and Sandbanks in Dorset on the south coast.”

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