The cost of buying a house on the most expensive street in the UK – and being neighbours with the Duke and Duchess of Cambridge – is north of £8m.
Seven of the 10 priciest residential streets in England and Wales are in Kensington and Chelsea, with Victoria Road, which runs parallel to Queen's Gate up to Kensington Gardens, taking the top spot.
This 5-bedroom house on Victoria Road sold for £8.75m in January 2013 Photo: Zoopla
Egerton Road and Manresa Road round out the top three, where the average price of a property sold in the last five years is £7.55m and £7.36m respectively.
Lloyds Banking Group compiled its annual list of the 50 most expensive residential streets in England and Wales based on Land Registry records of transactions made between January 2010 and October 2015.
Only streets with a minimum of seven sales during that period were included.
The 10 most expensive streets in England
- Victoria Road, Kensington and Chelsea, W8 – £8.01m
- Egerton Crescent, Kensington and Chelsea, SW3 – £7.55m
- Manresa Road, Kensington and Chelsea, SW3 – £7.36m
- Eaton Square, Westminster, SW1W – £6.73m
- De Vere Gardens, Kensington and Chelsea, W8 – £6.61m
- Parkside, Merton, SW19 – £6.36m
- Drayton Gardens, Kensington and Chelsea, SW10 – £5.95m
- Chester Street, Westminster, SW1X – £5.53m
- Chelsea Manor Street, Kensington and Chelsea, SW3 – £5.52m
- Pembridge Place, Kensington and Chelsea, W2 – £5.49m
"The largest concentration of England's most expensive streets is in Kensington and Chelsea. This part of London has always had a glamorous reputation, attracting overseas buyers as well as those from the worlds of business and entertainment," said Andrew Mason, mortgages director at Lloyds Bank.
"The area clearly has its attractions with excellent schools, designer shops, close proximity to the capital's business district and properties with the highest specifications."
This Leys Road 7-bedroom mansion sold for £6.3m in April 2014 Photo: Zoopla
The priciest street outside of London, which is 20th on the overall list, is Leys Road in Leatherhead, where the average price of a property sold in the last five years is £3.68m.
"Outside London, the areas with the most expensive streets are generally located away from central areas, where buyers are typically attracted by larger properties and more green space," Mr Mason said.
"These areas can be as diverse as Surrey, Cheshire, the ’Golden Triangle’ in Yorkshire and Poole on the south coast."
This 5-bedroom house on the most expensive street in Wales sold for £1.25m in November 2014 Photo: Zoopla
Including London, the South East accounts for the 31 most expensive streets in England and Wales. The South West enters in 32nd place with Sandbanks Road in Poole, where a house costs £2.49m.
No other region has a residential street expensive enough to make the top 50.
A house on the most valuable street in Wales is Druidstone Road in Cardiff, where the average transaction price since 2010 is £793,000.
The most expensive street in each region
- London: Victoria Road, Kensington and Chelsea – £8.01m
- South East: Leys Road, Leatherhead – £3.68m
- South West: Sandbanks Road, Poole – £2.49m
- East Anglia: Cambridge, Newton Road – £1.85m
- North West: Castle Hill, Macclesfield – £1.66m
- East Midlands: Lyndon Road, Rutland – £1.36m
- West Midlands: Tiddington Road, Stratford upon Avon – £1.35m
- Yorkshire and the Humber: Rutland Drive, Harrogate – £1.12m
- North East: Graham Park Road, Newcastle – £1.03m
- Wales: Druidstone Road, Cardiff – £793,000