Number of ‘million pound streets’ on the rise
There are more ‘million pound streets’ in England and Wales according to new data from Lloyds Bank on the most expensive addresses in the country.
There are now 76 streets where there is an average asking price of a million pounds or more, three more than in the corresponding figures that Lloyds released for 2017.
London dominates the upper echelons of the list – no surprises there. And topping the charts this time around is Ilchester Place in Holland Park, where houses go for an average of a shade under £15.6m.
Tellingly that average, taken over the last five years, is a million less than last year’s report which analysed 2012 to 2017. Second placed Eaton Square actually saw average asking prices rise last year at £13.7m while Knightsbridge follows just behind with a fraction under £13.4m.
It’s not just about London – regional revelations
There is plenty of interesting data looking outside the capital. Alderley Edge in Cheshire, within reach of Manchester and Liverpool, leads the way in the north-west with Congleton Road’s average asking price of £2.3m making it the most expensive street in the region. Alderley’s near-neighbours Knutsford, Altrincham and Macclesfield dominate the rest of the area’s representation in the Lloyds report.
Over in the Yorkshire and Humber region, Fulwith Mill Lane in Harrogate heads the list with an average price of £1.6m, slightly up on last year when it also held top spot. Rising Lane in Solihull is the most expensive street in the West Midlands at £1.9m, while in the south-west that honour goes to Panorama Road in Sandbanks near Poole with a house would set you back, on average, £2,593,000.
Data on the cheapest properties is not as readily available, but HM Land Registry showed a property in Burnley going for £16,700 in November. At the other end of the scale in the same month, they also showed one house going for £38,822,000m in the City of Westminster, home to both the aforementioned Eaton Square and Knightsbridge.
Stamp duty on properties worth over £1million pulled in £2.9billion in 2017/18, with receipts for the boroughs of Kensington & Chelsea and the City of Westminster of just over £1billion totalling more than all of Wales, the north-west and north-east of England and the Yorkshire/Humber region put together.