Grosvenor Crescent, located in the heart of Belgravia between Hyde Park Corner and Belgravia Square, is the most expensive residential street in England and Wales, according to the annual research from Lloyds Bank. A typical property on Grosvenor Crescent will cost an average of £16,918,000.
Belgravia has long attracted wealthy buyers and famous residents including former prime ministers Stanley Baldwin and Margaret Thatcher to the area due to its graceful white stucco residences, sweeping crescents, private garden squares and closeness to all the amenities of nearby Knightsbridge, Pimlico and Chelsea, to create the nation’s wealthiest district – three of the top five most expensive streets are in Belgravia.
Grosvenor Crescent seems to have weathered the storm buffeting property valuations at London’s top-end of the market after the vote to exit the European Union, with the typical price tags unchanged since last December. However same thing cannot be said for next-door neighbours Eaton Square – which topped the bank’s table a year ago – which has seen more than £3m wiped off the property values in 12 months, slashing the average price to just over £13.5m.
The second most expensive street is Ilchester Place neighbouring Holland Park, with an average house price of £16,700,000. Holland Park, in the royal borough of Kensington and Chelsea also has an affluent and fashionable reputation with many large period residencies that attract the rich and famous like the Beckhams and Robbie Williams.
Streets paved with gold
The top six most expensive streets are in the super-prime London neighbourhoods of Westminster and Kensington and Chelsea – all with an average price of over £10m and two over £16 million.
Eaton Square, last year’s most expensive street, was nudged into third place with an average price of £13,585,000 (down from £17m last year) followed by Chester Square (£12,534,000) – two of the three garden squares built by the Grosvenor family in Belgravia. Carlyle Square (£11,618,000) and Kensington Road (£10,185,000) make up the remaining £10 million-plus streets.