Kensington and Chelsea home to most expensive street, study finds
The most expensive place to buy a home in England and Wales is in Kensington and Chelsea, it has been revealed.
Research by Halifax has found that 25 of the 50 priciest streets are in the London borough, with The Vale topping the list.
And the study showed that four of the five most expensive streets in Britain are in Greater London, suggesting that those hoping to live in the capital may prefer to rent a house or flat.
Chief economist at Halifax Martin Ellis explained that prices in Kensington and Chelsea have become inflated of late.
"In recent years, its prime location in Central London has attracted affluent celebrities and ultra wealthy foreign businessmen helping to drive up house prices," he said.
The most recent figures from the Land Registry showed that the average value of a home in Kensington and Chelsea is currently £835,935, an increase of 1.7 per cent over the last year.
Published 17th November, 2008
© 2008 Estates IT Limited
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The most expensive place to buy a home in England and Wales is in Kensington and Chelsea, it has been revealed.