Brits would need £10million to buy a house on the UK's most expensive street

15 April 2024 , 23:01

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The UK's most expensive street to to live on is situated in London (Image: PA Archive/PA Images)

Living on the UK's most expensive street will set you back almost £10 million, new research has found.

Property firm Rightmove's data showed Buckingham Gate in Westminster, central London, is the priciest in the country with an average asking price of £9,633,333. The street is located a stone's throw away from notable London landmarks including Westminster Abbey, Buckingham Palace and St James's Park. The top three most expensive places to buy a home were all in the capital, Rightmove said.

In second place was Vicarage Gate in Holland Park, with an average price tag of £6,332,000, while third most expensive is Park Road in celeb haunt St John’s Wood, with an average of £5,814,286. Sales searches for prestigious London boroughs are also up, with sales searches for areas such as Mayfair up 35% year-on-year, while St John’s Wood and Holland Park also saw an increase in popularity when it came to searches.

Meanwhile Old Avenue in Weybridge, Surrey, is currently the most expensive street to buy outside of London, with an average asking price of £2,633,333 Next most expensive outside London is The Ridgeway in Cuffley, Potters Bar, Hertfordshire, with an average asking price of £2,289,286, and in third Manor Road in Chigwell, Essex, where properties are currently on average listing at £2,219,444.

They were followed by Swithland Lane in Rothley, Leicester, £2,024,000 and Norsey Road, Billericay, Essex where homes go for an average of £1,800,000.

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Tim Bannister, of Rightmove, said: “London's status as the hub of luxury property in the UK remains unchallenged, with Buckingham Gate in Westminster commanding the highest average asking price. Although the possibility of buying one of these homes is limited to a very lucky few, there’s clearly a fascination with these prestigious homes as we find they’re often among our most viewed properties on Rightmove.”

According to the Office for National Statistics, the average UK house price was £285,000 in December 2023, which was £4,000 lower than 12 months previous.

Natasha Wynarczyk