The most expensive street to buy a home in Britain has been revealed as being a stone’s throw away from the King and Queen (Melissa York writes). At just a fraction of the price of a palace, Buckingham Gate in Westminster, central London, is the most expensive street to buy in, with an average asking price of £9.63 million.
The road is lined with brick mansion blocks and Victorian terraced houses, but its appeal is likely to lie in its proximity to Buckingham Palace and St James’s Park, both a five-minute walk away. The address topped an analysis by the property portal Rightmove, based on the highest average asking price in streets where there have been five or more properties available for sale or to let so far this year.
Searches for upmarket neighborhoods in central London are on the increase as higher mortgage interest rates and rising rents drive more people to click wistfully through photo galleries of multimillion-pound properties.
Tim Bannister, a Rightmove property expert, said: “Many of us like to explore some of the most eye-wateringly expensive and unusual homes for sale online, and the most viewed homes on Rightmove are in London’s most prestigious hotspots.
However, more widely we are seeing an increase in buyer With the King and Queen as neighbors, it’s no surprise that homes in Buckingham Gate, London, average £9.63 million interest for the largest, often most expensive, top-of-the-ladder properties compared with last year.
There are several reasons for this, such as more choice in this sector for this type of buyer, some pent-up demand from last year when homebuyers held back, and, for those looking to finance their move, some more positive signs in the mortgage market.” David Mumby, head of prime central London lettings at Knight Frank, said: “These traditional prime central London areas are always in high demand with wealthy tenants, particularly Mayfair, which is probably the most sought-after address in London at the moment.”
The most expensive street outside London is Old Avenue, Weybridge, in Surrey, where the average asking price is £2.63 million. The road connects the Centre of the costly commuter town to the countryside, and is bordered by three golf courses and close to two well-regarded private schools.
Source: The Times
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