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Dailymall / News - Politics

Houses sell for average of £14.5m on UK's most expensive street

A street in west London where the average house price is 51 times that of the national average has been named the nation's most expensive, with the cheapest in a Durham former mining village.

A street with houses that cost 51 times the national average has been named the UK's most expensive.

The neoclassical terrace in Kensington, west London, boasted an average selling price of £14.5 million over the last 12 months, says the Land Registry.

The stucco-fronted houses in Egerton Crescent dwarf the average British home price of £284,000, with the country's lowest average found in a former mining village of County Durham, where houses go for an average of £20,167.

Houses in Egerton Crescent sold for 51 times the national average at £14.5 million over the last year 

Barrington Terrace in Ferryhill, a former mining village of County Durham, where houses go for an average of £20,167

Egerton Crescent, which is within walking distance of Hyde Park, knocked Albermarle Street in Mayfair off the top spot, according to The Times, which previously had an average property selling price of £14.3 million. 

The data showed 11 of the UK’s 20 most expensive streets sit in a one-mile radius in west London, with seven being in Kensington.

All but one of the top 20 were in west London, including in Belgravia, Knightsbridge, Notting Hill and Chelsea. 

Barrington Terrace in Ferryhill was the street with the lowest average selling price over the last year.

The terrace's average price is 86 per cent lower than the national average price. 

A buyer on Egerton Crescent could buy 721 properties on Barrington Terrace for the same price, said peer-to-peer property lending platform Lendy, which analysed the Land Registry data. 

North-eastern news site Chronicle Live reported on September 5 that 48 acres of arable and grassland in the area was being sold for £285,000.

Buyers could purchase one lot of 31 acres for £185,000 or a lot of 17 acres for just 100,000.  

The former mining village in County Durham was the least expensive in the whole of the UK

Egerton Crescent's stucco-fronted houses dwarfed the national average selling price of £284,000

People from Ferryhill include Middlesbrough FC player Eric Gates, darts player Phill Nixon and Yes drummer Alan White.

Meanwhile The Bishops Avenue in Hampstead, north London, long known as Billionaires’ Row, dropped to seventh.

The so-called Billionaires' Row in Kensington Palace Gardens where Russian billionaire Roman Abramovich owns a home

The Bishops Avenue in north London once topped the list but has slipped down to seventh place

The street in Kensington, west London, knocked Albermarle Street in Mayfair, where houses sell for £14.3 million, off the top spot

Lendy co-founder Liam Brooke said: 'The days of houses there reputedly being worth £300 million or more may have passed.'

To be included in the analysis, streets had to have at least three sales in the past year, excluding Kensington Palace Gardens, where Russian billionaire Roman Abramovich owns a home.