Homes on Britain’s most expensive street of 2021 cost £28.9 million, 105 times more than the average house price in the country.
Tite Street in Chelsea, SW3, has been crowned this year’s priciest street by Halifax, knocking Avenue Road in St John’s Wood off the top spot.
Laid out in 1877, Tite Street runs down to the Thames and was an enclave for celebrated artists and writers in the nineteenth century, including Oscar Wilde, James McNeill Whistler and John Singer Sargent and there are several blue plaques on the buildings.
Gordon House is also entered via the red-brick mansion-block-lined street. A long lease was sold on the Grade II-listed building for £75 million in 2012 and plans were submitted to build one of London’s biggest family home basements.
All 10 of the country’s most expensive streets were in London. The second highest price tag was £25.2 million in Phillimore Gardens, W8, which runs between High Street Kensington and Holland Park.
The third most expensive street was South Audley Street in Mayfair, with an average house price of £22.85 million.
Source: Land Registry and Royal Mail
The report from Halifax uses sales prices for the five-year period 2016-21 so as to account for anomalies.
Although the top street price has dropped slightly from the £30.2 million recorded for Avenue Road last year, house prices have soared since 2019, when the average price on Ilchester Place, the then-most expensive street was £17.2 million.
House prices on Tite Street remain unchanged since 2020. This is in contrast to the most expensive streets outside London, where house prices have risen faster than those in London.
Esther Dijkstra, mortgage director, Lloyds Bank, said: “London’s dominance of the top ten most expensive streets in the UK continues, with property prices on some of the most famous roads in the capital averaging £19 million. Homes in the South East’s most expensive streets will set you back around £5.5 million, and you’ll benefit from more rural locations all within commuting distance of the capital.
“However, much like house prices overall, homes in London have not experienced the same meteoric rise as other regions this year. Buyers with deeper pockets may be starting to look beyond the capital for their next grand home.”
The 11th and 12th most expensive streets remained unchanged since last year — South Ridge (£7.1 million) and East Road (£6.9 million) both in the Surrey town of Weybridge.
The remaining streets in the top 20 were all found in the Home Counties to the south and west of London, with Surrey, Berkshire, Buckinghamshire and Oxford streets all on the list.
The most expensive streets in both the North and the West Midlands saw average prices increase by 11 per cent year on year.
The top two streets in the North were in Windermere: Old Hall Road (£2,508,000) and Newby Bridge Road (£1,488,000). The majority of the North’s other top streets were in Newcastle upon Tyne.
Birmingham’s Carpenter Road (£3,088,000) topped the West Midlands’s list, while the most expensive street in the East Midlands was Benscliffe Road in Leicester (£3,288,000).
Of the 10 top streets in the South West, eight were in Poole, where Britain’s priciest coastal homes can be found in Sandbanks. Pearce Avenue (£3,478,000) and Panorama Road (£3,002,000) were the region’s highest priced streets.