Monday, January 09, 2012

London Property Prices Cement Position as Highest in the Country

London property prices have cemented their position as the highest in the country, with Kensington and Chelsea holding six of the top ten most expensive streets.

Campden Hill Square, just around the corner from Kensington Palace, was named as the most expensive street in the UK, with an average price of £4,863,000, according to Lloyds TSB research.

Drayton Gardens, Dawson Place, Duchess of Bedfords Walk, Cadogan Square and Bramerton Street, all in the borough, also make the top ten.

Suren Thiru, economist at Lloyds TSB, said: "The area clearly has its attractions with excellent schools, upmarket shops, close proximity to the capital's business district and impressive properties."

Completing the top ten were Parkside, Hamilton Terrace, Cedar Park Gardens and Hampstead Lane, all within Greater London, reflecting the higher property prices seen in the capital.

"Outside London, the areas with the most expensive streets are generally located well away from central areas, where buyers are typically attracted by larger properties and more green space," Mr Thiru added.

The average house price in the UK now stands at £241,461, according to figures from the Land Registry of England and Wales and the Scottish Executive Agency.

London Property News

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