PrimeResi.com - Editorial Highlights

NEWS
Here’s what the first new-build for over a century on
Britain’s most expensive street, Kensington Palace Gardens, will look like.
Designed by Colwyn Foulkes & Partners and revealed on PrimeResi back in
Millionaires’ Rows 2014:
Britain’s most expensive streets, towns and areas
The value of Britain’s most expensive streets is rising at nearly twice the national average,
meaning that the number of “property millionaires” – with homes worth more than £1m
– is nearly 50% higher than it was last year.
Property prices on the the UK’s ten most expensive streets have increased by 12.9% over
the last 12 months, while Zoopla’s stats show a national average price rise of 6.6% over the
same period.
The portal’s annual Property Richlist shows that there are now 484,081 £1m+ homeowners
in Britain – up 49% on last year – and that there are 10,613 streets in Britain with an
average property value of £1m+, up 29% on 2013. 3,744 of those “Millionaires’ Rows” –
just shy of a third of the total and all the top 20 – are in London.
12 streets claim an average house prices over £10m. Kensington Palace Gardens again
tops the table, with an average price of £42,730,760 (62 times the £263,705 value of the
average British home, says Zoopla). The Boltons in SW10 takes second place with average
house prices standing at £26,570,341, and Grosvenor Crescent in SW1 rounds out the top
three with average property prices of £22,293,470.
Outside of the capital, the most expensive street in Britain is Sunninghill Road in Surrey,
where the average home is currently worth £5,605,067. The two most expensive towns
outside London are both in Surrey, with average house prices in Virginia Water at
£1,186,262 and Cobham at £1,003,400.
W8 (Kensington) remains London’s most pricey postcode, with average property prices
in the area of £2.78m. Neighbouring SW7 (Knightsbridge), the next most expensive area
in the capital, has average values of £2.48m, while property values in third-placed SW3
(Chelsea) stand at £2.37m. The rest of the top 10 is dominated by areas in South West,
West and North West London. Q
p.6
this is just a small selection of highlights from August’s news on PrimeResi.com
read the full stories here: www.primeresi.com/the-market