Kensington Palace Gardens was named the most expensive street in the UK. As reported by Property Wire, the number of streets, which value is over £1 million (€1.16 million), is 23% higher than last year. Nowadays there are 8,230 such streets and the London boroughs Kensington and Knightsbridge are named the most expensive areas in the UK.
A study conducted by the site Zoopla, shows that the "minimum cost per unit of area with the size of a regular floor mat" in Kensington stands at £3,586 (€4,160).
Rising home prices, particularly in the luxury sector of the market, helped 77,894 property owners to become "millionaires" - the owners of the house for a million last year. It turns out that in the UK there are now 323,684 properties worth more than £1 million (€1.16 million). This is 32% more than the year before.
From 8230 streets-millionaires around 34% (2,789) are in London. Top twenty most expensive streets are also located in the English capital.
The average house in Kensington Palace Gardens, for example, the house of Leonard Blavatnik - the second richest man in the United Kingdom, located a stone's throw from the home of the Duke and Duchess of Cambridge, is estimated currently at £36 million (€41.8 million). It is about 156 times more expensive than the cost of the average British house, which, according to Zoopla, now stands at £230,924 (€267,846).
The Boltons, where Madonna once lived, is the second most expensive street in the UK. The average home costs here some £23 million (€26.7 million). Next comes the Grosvenor Crescent, where the average house costs £19 million (€22 million).
In London's Kensington average cost of housing is £2.32 млн (€2.7 million), which is 4.5% higher from a year earlier. Knightsbridge, where the average cost of housing is £2,034 (€2.35 million), beat Chelsea and became the second most expensive area in Britain.
Outside London Virginia Water became the most expensive suburb. It is home district to a famous TV presenter Bruce Forsyth and the founder and former owner of the F1 "Jordan" team Eddie Jordan.
The average cost of housing here is £1,000,000 (€1.16 million). Cobham, populated by football players (the base of the football club "Chelsea" is located here), is in second place with the average price of £842,000 (€977,000).
According to the Lawrence Hall of Zoopla, even lottery winners can only dream to buy a house in the streets like Kensington Palace Gardens and Boltons. The cost of housing in these super exclusive locations which always had been astronomical, even increased several times over the years.
He also added that only very rich people can enjoy life on the most expensive streets as soon as they are ready to pay for registration in a particular area as much as for the house itself. You can find a luxury mansion in any other part of the country, which will cost as much as an ordinary little house in areas such as Kensington.
In third place is Chelsea, where the average property price is £1,822,000 (€2,100,000), followed by West Brompton from £1.5 million (€ 1,740, 000) and Notting Hill with £1,422,000 (€1,645,831). Westminster, the West End, Barnes, Hampstead and Earls Court close the top ten most expensive areas of the country.
Top 10 most expensive streets are in London. In the first place there is Kensington Palace Gardens, where the average cost of housing is €41.8 million in the second - Boltons (€26.7 million) than Grosvenor Crescent (€22 million), Courteney Avenue (€12,4,000,000), Compton Avenue (€11.57 million), Frognal Way (€10.99 million), Park Place Villas (€10.3 million) and Montrose Place (€10.29 million).
Top 10 most expensive suburbs are also close to London. The first place goes to Virginia Water, where the average cost of housing is €1.16 million, then goes Cobham (€976,627), Beaconsfield (€933,400), Keston (€909,025), Esher (€896,139), Shalfont St Giles (€873,575), Richmond (€831,282), Gerrards Cross (€830,229), Radlett (€800,000) and Welwyn (€687,558).