Share:
While house prices in London have not increased as much as elsewhere in the country, property in the capital is still roughly twice the national average at a little over £500,000, showing that the city sticks to its own rules when it comes to the property market.
Research from Enness Global Mortgages has looked at sold price records across London over the past year and ranked the capital’s most expensive streets, reports Country Life.
Upper Phillimore Gardens in Kensington ranked as London’s most expensive road to buy a house on, with the average sold price on the road in the last year selling for £28 million. London’s second most expensive street, The Boltons, had an average sold price of £22.5 million.
Mayfair’s Grosvenor Square and Brompton Square in Knightsbridge also rank high, with homes selling for an average of £18.6 million and £17.8 million over the last year, and to buy a home in Upper Grosvenor Street will set you back £17.5 million.
Lygon Place, Mulberry Square, The Little Boltons, Egerton Crescent and Whistler Square also place in the top 10 for the average sold price of homes in the current market.
Islay Robinson, CEO of Enness Global Mortgages, commented: “With so much being made about the exodus of the average London homeowner for greener pastures, you could be forgiven for thinking that the London real estate market must have shut up shop over the last year.
“Of course, this couldn’t be further from the truth and, in fact, the prime London market has seen quite a large degree of activity all things considered.”
He also suggested that with the soon to be implemented surcharge in foreign buyer stamp duty and a pandemic-induced dip in central London property prices, the last 12 months might have been seen by some as a great opportunity to invest.
“This has helped maintain a good degree of momentum and this is only going to build as we ease out of lockdown,” he said.
