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Where are the most expensive streets to live in Britain?

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The pandemic may have seen an exodus out of many cities, but London retains its crown in having the priciest addresses in Britain.

The nation’s most expensive Millionaire’s Rows have been revealed by new research and top of the list is Tite Street, in the London borough of Chelsea and Kensington, where the average value of a home is just under £30million.

In fact, the top 10 most expensive streets are all in London and have an average price tag of more than £19million. 

However, the costliest streets outside of the capital have seen prices increase faster, as buyers hunger for more space out of town after several lockdowns.

This four-bed terrace house in Tite Street, in London's Chelsea, is for sale for £5.53million via John D Wood & Co estate agents

This four-bed terrace house in Tite Street, in London’s Chelsea, is for sale for £5.53million via John D Wood & Co estate agents

Top of the list of most expensive streets in Britain is Tite Street, London, according to the annual Halifax survey

Top of the list of most expensive streets in Britain is Tite Street, London, according to the annual Halifax survey

The average price of a home on one of the ten most expensive streets in both the North and West Midlands increased 11 per cent in a year, making them the two best performing regions.

In the North West they have increased by 5 per cent on average, followed by the East Midlands at 4 per cent. London, in comparison, experienced just a 1 per cent increase.

At the other end of the scale, in the South West the prices of homes on these streets have tumbled 15 per cent, while in East Anglia the average price has dropped 5 per cent.

The most expensive road – Tite Street – is between the banks of the River Thames to the south and the iconic Kings Road to the north.

It replaces last year’s top spot, which was Avenue Road In London’s St John’s Wood, according to the annual survey by Halifax.

Second on the list is Phillimore Gardens, near Holland Park, where average prices stand at £25,188,000.

In third place is Mayfair’s South Audley Street, where an average home costs more than £22million.

In third place is Mayfair's South Audley Street, where the average cost of a property is more than £22million

In third place is Mayfair’s South Audley Street, where the average cost of a property is more than £22million

A one-bed flat in this luxury block in Mayfair's South Audley Street is currently for sale for £2.1million via Carter Jonas estate agents

A one-bed flat in this luxury block in Mayfair’s South Audley Street is currently for sale for £2.1million via Carter Jonas estate agents

London streets continue to dominate the top 10 most expensive streets, particularly the areas of Kensington, Chelsea and the City of Westminster.

However, the South East proves that it has its fair share of expensive addresses too.

Ranked eleventh and twelfth are South Ridge and East Road in Surrey’s Weybridge, with average values at £7,125,000 and £6,862,000 respectively.

Esther Dijkstra, of Lloyds Bank, said: ‘London’s dominance of the top ten most expensive streets in the UK continues, with property prices on some of the most famous roads in the capital averaging £19 million.

HISTORY OF TITE STREET

The street is named after William Tite who was a member of the Metropolitan Board of Works, responsible for the construction of Chelsea Embankment to the south of Tite Street.

Gough House stood on the eastern side of the street, and was built around 1707. It became a school in 1830, then the Victoria Hospital for Children in 1866. In 1898, the building was considered not fit for purpose. The hospital moved to St George’s Hospital, and the original building was demolished in 1968. The site is now occupied by St Wilfred’s convent and home for the elderly.

In the late 19th century, the street was a favoured and fashionable location for artists and writers.

Oscar Wilde’s house at 34 Tite Street, is today commemorated with a blue plaque  

 

‘Homes in the South East’s most expensive streets will set you back around £5.5 million, and you’ll benefit from more rural locations all within commuting distance of the capital.

‘However, much like house prices overall, homes in London have not experienced the same meteoric rise as other regions this year. Buyers with deeper pockets may be starting to look beyond the capital for their next grand home.’

Halifax used information from several sources, including the Land Registry, averaging values between January 2016 and September 2021.

London’s dominance continues despite the so-called ‘race for space’ among house hunters during the pandemic. 

Guy Meacock, of buying agency Prime Purchase, explained: ‘Covid was the perfect catalyst, creating the desire, not just for space but more outside space, away from the neighbours and a bit of splendid isolation, which the densely populated city simply couldn’t supply. 

‘There was compelling historical value to be found in the country compared with London, while an entire market cycle and extraordinary amount of activity was distilled into a tiny window of 18 months, which saw parts of the country become golden postcodes in their own right.’

However, he added: ‘Before Omicron emerged, city life had been rebounding fast. 

‘Many people bought in the country as a knee-jerk reaction and may look back wondering whether they would have been better off renting, with employers reportedly asking staff to return to the office four days a week. 

‘London’s star may have slipped but it has also seen a strong rebound with record levels of activity. Whatever befalls London, it continues to recover, the phoenix which keeps coming back.’

This five-bed semi-detached house in Tregunter Road, London - one of the most expensive streets in the country - is for sale for £23.5million via Forbes Gilbert-Green estate agents

This five-bed semi-detached house in Tregunter Road, London – one of the most expensive streets in the country – is for sale for £23.5million via Forbes Gilbert-Green estate agents

TOP 20 MOST EXPENSIVE STREETS IN ENGLAND AND WALES 2021
Street Name Posttown Region Postcode Average House Price
£ – 2016-2021*
Tite Street London Greater London Sw3 28,902,000
Phillimore Gardens London Greater London W87 25,188,000
South Audley Street London Greater London W1K 22,850,000
Chelsea Square London Greater London Sw3 18,800,000
Queen Annes Gate London Greater London Sw1 17,563,000
Knightsbridge London Greater London Sw1 16,749,000
Ilchester Place London Greater London W14 16,304,000
Kensington Park Gardens London Greater London W11 15,683,000
Manresa Road London Greater London Sw3 15,518,000
Tregunter Road London Greater London Sw1 15,510,000
South Ridge Weybridge South East Kt1 7,125,000
East Road Weybridge South East Kt1 6,862,000
Montrose Gardens Leatherhead South East Kt2 5,862,000
Witheridge Lane High Wycombe South East Hp1 5,575,000
Virginia Avenue Virginia Water South East Gu2 5,438,000
Charlbury Road Oxford South East Ox2 5,103,000
Bucklers Hard Brockenhurst South East So4 5,038,000
Hatton Hill Windlesham South East Gu2 5,009,000
Fishers Wood Ascot South East Sl5 4,804,000
Furze Field Leatherhead South East Kt2 4,575,000
Source: Halifax *For period between January 2016 and September 2021

Most expensive streets outside of London 

The North

The top two most expensive streets are in the North of England are in Windermere, on Old Hall Road, where average values are £2,508,000, followed by Newby Bridge Road at £1,488,000.

Seven of the top 10 most expensive streets in the North are based in Newcastle Upon Tyne, with Montagu Avenue the most expensive in the city and third on the list at £1,369,000.

North West

In the North West, all the expensive streets are in Altrincham, Macclesfield, Knutsford and Alderley Edge.

Barrow Lane in Altrincham is the most expensive street with homes selling, on average, for £3,706,000 followed by Underwood Road in Alderley Edge at £2,925,000 and Stanhope Road in Altrincham at £2,785,000.

Theobald Road, also in Altrincham, has an average house price of £2,572,000, and Withinlee Road in Macclesfield is at £2,536,000 – completing the top five.

Yorkshire and the Humber

The most expensive street in the region is Fulwith Mill Lane, Harrogate, at £1,797,000, followed by Ling Lane, Leeds, at £1,551,000.

Hag Farm Road in Ilkley has an average price of £1,468,000, while Wetherby’s Linton Lane is at £1,353,000 and Sandmoor Drive, Leeds, at £1,351,000 make up the top five most expensive streets in the region.

West Midlands

In the West Midlands, Birmingham’s Carpenter Road at £3,088,000 takes the top spot, followed by Old Warwick Road in Solihull at £2,113,000.

Beechwood Croft at £1,930,000 and Ladywood Road at £1,836,000 in Sutton Coldfield are the third and fourth most expensive streets to live in the region, followed by Solihull’s Rising Lane at £1,759,000 in fifth.

East Midlands

The top three most expensive streets in the region can all be found in Leicester, with Benscliffe Road at £3,288,000 topping the pile, followed by Holmewood Drive at £1,940,000 and Ulverscroft Lane at £1,719,000. 

Stamford’s St. Marys Street at £1,659,000 and Northampton Road in Rushden at £1,602,000 complete the top five.

East Anglia

The streets of Cambridge dominate the 10 most expensive in East Anglia. Most of these streets are close to the main University area in the CB2 and CB3 postal districts.

Chaucer Road is the most expensive street at £3,610,000 followed by Storeys Way at £2,585,000, Barrow Road at £2,319,000, Millington Rad at £2,317,000 and then Bentley Road at £2,104,000.

South East

The region’s most desirable addresses are in the towns of Weybridge and Leatherhead.

South Ridge in Weybridge is the most expensive with an average price of £7,125,000, followed by East Road, also in Weybridge at £6,862,00.

In third place is Montrose Gardens in Leatherhead at an average price of £5,862,000 and completing the South East top five are Witheridge Lane, High Wycombe, at £5,575,000 and Virginia Avenue, Virginia Water, at £5,438,000.

South West

Eight of the top 10 most expensive streets in the South West can be found in Poole, with the top two – Pearce Avenue at £3,478,000 and Panorama Road at £3,002,000 – found in the area.

Bath’s Weston Park completes the top three, with an average price of £2,796,000.

Poole has the final two streets to make the top five in the region, with Wilderton Road and Whitecliffe Road both attracting average house prices of £2,528,000.

Wales

Benar Headland in Pwllheli is Wales’s most expensive street with an average price of £2,152,000.

The most expensive street in the Welsh capital of Cardiff is Llandennis Avenue, where the average house price is £1,361,000.

Llys Helyg Drive in Llandudno at £1,219,000, Cliff Parade in Penarth at £1,213,000, and Hanley Cwrt in Usk at £1,152,000 complete the top five.

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Fears for UK housing market amid sharp slowdown in price growth

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Fears for UK housing market as latest data shows sharp slowdown in price growth after mortgage costs rocket

There were fears the UK housing market has begun to splutter after fresh data showed price growth had dramatically slowed.

The Office for National Statistics (ONS) said the average UK house price increased by 7.8 per cent in the year to June, sharply down on May when prices jumped 12.8 per cent.

The slowdown followed similar assessments from mortgage lenders such as Halifax, which this month said prices fell in July for the first time in over a year.

The Office for National Statistics reported that the average UK house price increased by 7.8% in the year to June, sharply down on May when prices jumped 12.8%

The Office for National Statistics reported that the average UK house price increased by 7.8% in the year to June, sharply down on May when prices jumped 12.8%

‘We are seeing the end of an era of consistent rapid house price growth and the start of a new chapter characterised by economic instability,’ said Andy Sommerville, director at property data firm Search Acumen.

He forecast house price growth stalling or falling, as inflation and interest rate rises take the heat out of demand, which had been ‘exponentially outstripping supply since the pandemic.’

It comes as mortgage costs have jumped after the Bank of England raised its benchmark lending rate from 0.1 per cent in December to 1.75 per cent this month in an effort to curb inflation.

Yesterday housebuilder Persimmon reported a profit of nearly £440million for the first half of the year, down from £480million in 2021. ‘

As the pressure on people’s finances grows it is going to become increasingly difficult for them to afford to move house,’ said AJ Bell analyst Danni Hewson.

She added that Persimmon’s ability to build was hit by ‘shortages of skilled labour and materials.’ Its share price fell 7.8 per cent, or 145p, to 1704p.

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People in Weoley Castle, Birmingham are at ‘the end of their tether’ over massive pile of rubbish

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Neighbours are at ‘the end of their tether’ over massive pile of rubbish in council flat garden including fridges, trollies and furniture that has been growing for 10 YEARS

  • The garden in Weoley Castle, Birmingham, has been used as a dumping ground 
  • The pile of rubbish has been growing for over a decade and is now attracting rats
  • Next door neighbour Darren Holden, 52, said ‘something has to be done’ 
  • A video shows the garden overflowing with old mattresses, fridges and trollies 

Furious neighbours are fed-up after a council flat garden that has been used as a dumping ground for rubbish for more than a decade is now starting to attract rats.

Hospital worker Darren Holden, 52, from Weoley Castle in Birmingham, said he and his fellow neighbours are ‘reaching the end of their tether’ after the pile of waste, which includes fridges, trollies and furniture, has been building for 10 years.

Video footage of his neighbour’s garden shows a sea of discarded household appliances, including what looks like a bathtub and mattress, as well broken bits of wood scattered across the garden.

Mr Holden said the garden belongs to an elderly tenant who lives in the council flat above his own and is understood to have a medical condition.

The frustrated resident said: ‘The other neighbours and myself are just getting sick of it. We’re getting rats in our gardens and it’s getting worse and worse every year.

‘I’ve lived in the property for 14 years and I’d say this has been going on for up to ten years now. Some of the neighbours have to look at all the rubbish from their windows.

‘I’ve seen rats in my garden – my dog chased one off the other day.’

Darren Holden, 52, from Weoley Castle, Birmingham, is 'reaching the end of his tether' after the garden next door to his home has been used a dumping ground for more than 10 years. The ever-growing rubbish pile, which includes a fridges, trollies and a mattress, is now attracting rats.

Darren Holden, 52, from Weoley Castle, Birmingham, is ‘reaching the end of his tether’ after the garden next door to his home has been used a dumping ground for more than 10 years. The ever-growing rubbish pile, which includes a fridges, trollies and a mattress, is now attracting rats. 

Everyday Mr Holden has to walk through the rubbish-strewn garden to get from his home into his own garden.

Despite making a complaint to Birmingham City Council years ago, when the mound of waste first started to build, he heard nothing back.

He added: ‘It’s full of old fridge freezers with the doors taken off, air fryers, televisions, baby baths, old chairs, lots of wood, bed bases, chairs, glass – you name it, it’s in there.

‘I saw a shopping trolley from Asda in the road the other day then noticed the next day it was in the garden.

‘I have complained to the council before but nothing happened, I didn’t hear back. Then it just carried on getting worse.’

Broken bits of wood, household appliances and chairs are some of the items that have been chucked into the garden over the last decade. Mr Holden first made a complaint to Birmingham City Council years ago but he never got a response. The council has now said it has issued a warning to the tenant to clean the garden within the next 14 days.

Broken bits of wood, household appliances and chairs are some of the items that have been chucked into the garden over the last decade. Mr Holden first made a complaint to Birmingham City Council years ago but he never got a response. The council has now said it has issued a warning to the tenant to clean the garden within the next 14 days. 

Mr Holden said he does not want to cause any issues for the elderly man who owns the garden but wants the council to provide him with help to clean it up.

He added: ‘I’m at the end of my tether now and don’t know what to do. Enough is enough, people are getting fed up and I’m not putting up with it anymore.

‘I don’t want to cause any issues for the guy who lives there – he’s elderly and lives alone so he probably just needs some help. But something has to be done.’

The Weoley Castle garden is strewn with discarded fridges, trollies, furniture, household appliances, mattresses and broken bits of wood.

The garden is believed to be owned by an elderly man with a medical condition. Mr Holden said he wants the council to help the resident.

The council flat garden is believed to be owned by the elderly man who lives above Mr Holden. Mr Holden said he does not ‘want to cause any issues to the guy who lives there’ but added that something had to be done. 

Birmingham City Council said it has now contacted the tenant and issued a warning letter to clear the garden within the next 14 days.

A spokesperson for the council said: ‘We have been in contact with the tenant about the items left in their front garden and the impact this is having on the local community.

‘They have been issued with a warning letter to clear the garden in the next 14 days. We are working with the tenant to resolve this.’

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Hundreds queue for one rental property in Dublin as Irish capital’s housing shortage in crisis

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Over 150 potential tenants queued to view a single rental property in Dublin last night as Ireland grapples with a housing crisis.

A long queue formed along St Brendans Road in Dublin on Tuesday night, with over 100 people queuing for a viewing at the three-bedroom house at 8.30pm. 

Within 30 minutes, even as the sun set, a further 50 people joined the queue to view the property, which costs €1,850 a month, in the city.

Conor Finn, who posted footage of the long queues, tweeted that he had waited for an hour in the queue before leaving without viewing the property.

‘An hour later and I’ve left the queue after no real movement or chance of viewing the house tonight,’ Finn said on Tuesday night at 9.30pm. ‘People were still joining the end of the queue as I left.’

Ireland’s economy is booming as the republic offers low corporation tax rates to tech and pharmaceutical companies such as Google – and pandemic-enhanced revenues from those companies has meant the republic is enjoying a €8bn corporate tax windfall.

But employees from these companies have flooded into the country, meaning the demand for properties in Ireland have soared. They are also able to afford to pay higher prices for houses and renting a property, meaning costs have soared.

This, coupled with a shortage of properties, has meant Ireland is facing a housing crisis and one estate agents in Dublin have even had to introduce a lottery system for viewings after they received 1,200 applications for one home.

Over 150 potential tenants queued to view a single rental property in Dublin last night as Ireland grapples with a housing crisis

Over 150 potential tenants queued to view a single rental property in Dublin last night as Ireland grapples with a housing crisis

A long queue formed along a street in Dublin on Tuesday night, with over 100 people queuing for a house viewing at around 8.30pm

A long queue formed along a street in Dublin on Tuesday night, with over 100 people queuing for a house viewing at around 8.30pm

A long queue formed along a street in Dublin on Tuesday night, with over 100 people queuing for a house viewing at around 8.30pm

Demand for rental accommodation in Dublin has grown from already sky high levels in recent months – to such a degree that Ireland’s largest private landlord could have recently filled a new apartment block 30 times over, its chief executive said on Thursday. 

Chronic supply shortages pushed Irish rental properties to a new record low this month, with just 716 homes available to a population of 5.1 million people as of August 1, property website Daft.ie said in a report on Wednesday last week.

Irish Residential Properties REIT (IRES) Chief Executive Margaret Sweeney told Reuters that it received 600 requests to view 20 new apartments it listed last month near Dublin’s city centre.

The 61-unit development was fully occupied within a week of the builders completing the project, she added.

‘We’re definitely seeing much greater demand, there is a real shortage of good available accommodation. We’ve seen it increasing month-on-month,’ Sweeney said in a telephone interview.

‘It’s coming through in the fundamentals, unemployment is even lower than it was pre-COVID, there’s been quite strong FDI (foreign direct investment). We’ve a very young population as well as less emigration than previous decades.’

Estate agents Brock Delappe in Dublin said they have been forced to operate a ‘lottery system’ when choosing who can view properties because they have been inundated with applications.  

Within 30 minutes, even as the sun set, a further 50 people joined the queue to view the property in the city.

Within 30 minutes, even as the sun set, a further 50 people joined the queue to view the property in the city

Within 30 minutes, even as the sun set, a further 50 people joined the queue to view the property in the city

Ireland is facing a housing crisis due to a shortage in houses coupled with soaring demand

Ireland is facing a housing crisis due to a shortage in houses coupled with soaring demand

David Brock, an estate agent at the firm, said that there have been 1,200 applications for a single property.

‘The knock-on of that is, while the rent is low, you can only rent it out to one person and then you have got 1,999 disappointed people,’ Brock told Newstalk

‘When we’re doing the lettings and it comes to that, we need to operate a lottery system, which is unfair as well. You meet a lot of people who are desperate.’ 

While Ireland built too many homes in the wrong places in the 2000s, supply has since constantly fallen short of demand and rents have long passed their previous peak, limiting prospective buyers’ ability to save a deposit.

A years-long mismatch between low supply and high demand in Ireland has been compounded by two shutdowns of the construction sector in the past 18 months to slow the spread of Covid-19.

The resultant stalling in the building of new homes and a high number of well-paid employees at tech companies moving to Ireland has contributed to house prices rising again and rents increasing. 

In 2009, there were over 23,400 homes available to rent in Ireland – nearly 8,000 in Dublin and 15,500 elsewhere. In contrast there were less than 300 homes to rent in Dublin and 424 elsewhere on August 1 this year. 

Ronan Lyons, who wrote the Daft.ie report, said: ‘A resurgent economy over the last year has accentuated the chronic shortage of rental housing in Ireland.

‘The shortage of rental accommodation translates directly into higher market rents and this can only be addressed by significantly increased supply.’

Last month, Irish officials claimed Britain’s Rwanda policy has triggered a surge in refugees arriving in Ireland, reports The Telegraph.

But that is just one factor – the Irish government said that the country has seen an increase of refugees due to the pandemic and the war in Ukraine.

The unprecedented number of refugees arriving in Ireland has put pressure on the country’s housing crisis, despite generous offers to host Ukrainian families.

The shortage of accommodation has become so critical that around 4,300 Ukrainian refugees are set to be displaced this month, reports the Irish Independent. They are being housed in hotels and hospital accommodation. 



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