Even though the U.K. saw house prices drop for a sixth month in December, it has still true jewels which cannot be described as cheap and average at all. Lloyds TSB issued its annual list of most expensive streets in the U.K. Not surprisingly, London has once again outperformed other cities in the competition as all from the top ten are located in the capital of the U.K. According to the survey, residences located in Egerton Crescent, Kensington and Chelsea, London, are the costliest with the average house being valued at over £8 million. As a matter of fact, it was not London which dominated the list; it was the Royal Borough of Kensington and Chelsea which did it.
Most expensive street
Egerton Crescent has been awarded the title of the most expensive street in the U.K. with the median property value of approximately £8.1, or slightly over $13 million. But what makes it so special that people are likely to spend so much on properties located in the area? First of all, Egerton Crescent is located in south-west London. Second, from here it is close to the Victoria and Albert Museum, and if you prefer some more common pleasures you can just hit the shops of Knightsbridge. Third, Egerton Crescent is situated in the Royal Borough of Kensington and Chelsea which is one of the most luxury areas in the whole city indeed.
According to data, a person paid as much as £12 million for a four-bedroom property in the street. The hefty sum is almost 75 times the average UK house price of approximately £160.900. As a matter of fact, properties in the Royal Borough usually cost even 10 times more than the average home in the U.K. and 5 times more than a house located in London.
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