London's Grosvenor Square reigns as Britain's most expensive address

A peek into Britain's elite property market, from the capital city to Weybridge

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Grosvenor Square in London's Mayfair is the UK's most expensive street, with an average home selling at £20.35 million ($25.73 million), figures show.

The square, established in the 18th century, has long been associated with prestige and high social standing.

Its proximity to central London's key cultural and economic areas makes it highly sought after.

The UK’s 10 most expensive streets are all in London, with an average price tag of more than £14.5 million, research from the Halifax bank found.

Close competitors to Grosvenor Square in terms of price include Clarendon Road in Notting Hill and Knightsbridge road.

Both areas have average property prices around the £20 million mark.

The contrast between these high-priced areas and the average UK house price, which stands at £283,615, is stark.

Homes in the most expensive streets are about 72 times more expensive than the average UK home.

London's position as a leader in the luxury property market is clear but there are also high-value properties outside the capital.

East Road in Weybridge, Surrey, for instance – about 30km from central London – has an average home price of more than £9 million, making it the most expensive street outside of the capital.

In Wales, the most expensive streets start at about £1.3 million.

Kim Kinnaird, mortgages director at Halifax said: “Buying any home is expensive and likely to be the biggest single purchase most people will ever make.

“Purchasing a property on one of Britain’s most expensive streets comes with a colossal price tag and it’ll be no surprise that house prices in London continue to dominate, with the top 10 priciest streets to buy a home all in the capital."

According to Beauchamp Estates, a super-prime estate agent, London's luxury property market has undergone a significant increase in activity, with a notable rise in the average value and size of properties sold in Mayfair compared to previous years.

Luxury Mayfair penthouse sold for £30 million

A businessman from Abu Dhabi recently acquired a luxurious penthouse in Mayfair, London, for £30.45 million.

The transaction involved three properties within Greybrook House, a Grade II listed building known for its Art Deco style.

This acquisition marks one of the largest apartment transactions in Mayfair for 2023.

Lord Byron's former Mayfair residence on sale

The former Mayfair home of Lord Byron has been placed on the market.

The property, at 139 Piccadilly, is not only steeped in literary history but also has a rich architectural heritage.

The Grade II town house, spanning 15,339 square feet over six floors, is currently valued at £29.5 million. However, with plans for refurbishment, its worth is projected to exceed £70 million.

Updated: December 21, 2023, 11:51 AM