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Housing Market

Number of streets with £1 million house price average rises by 16%

Research by property portal Zoopla reveals singificant increase of six-figure-busting roads outside capital.

Nigel Lewis

house price

The UK now contains 17,289 streets where the average house price exceeds £1 million, research by Zoopla reveals.

This is an increase of 16% on last year as prices continue to rise in many of London’s commuter towns.

Although London dominates the list of most expensive streets in the UK, its sky-high central postcode prices have reduced in value, although not enough to drop off the rankings.

Lawrence Hall image“Despite London’s property market continuing to plateau, its sheer desirability means that its most exclusive boroughs continue to dominate the list,” says Zoopla spokesperson Lawrence Hall (left).

The UK’s most expensive street, Kensington Palace Gardens, has lost £1.3 million in value over the past year and now has an average value of £35.6 million.

But areas outside the capital are rivalling London for expensive streets and the South East of England has more at 6,491 compared to the capital’s 5,843.

House price wealth

The Zoopla research also mirrors the UK economy and its stark imbalance of property wealth.

London and the South East has thousands of million-pound-plus streets but in many regions further north they only run into the hundreds.

This includes the North West (757), West Midlands (364) and Yorkshire and the Humber (173). Wales has only 33.

Towns with the greatest number of million-busting streets where upmarket agents may be clinking their glasses – assuming they can find buyers for their listed properties – are all in the South East.

This includes Reading, Guildford, Sevenoaks, Leatherhead, Farnham and Maidenhead.

September 28, 2018

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