The Most Expensive Streets In The UK

The Halifax recently released data of the most expensive streets in the UK, based on Land Registry data, and Royal Mail postcodes.

The report reveals that the top 10 most expensive streets in the UK are all in London. Of those, seven streets were situated in the Royal Borough of Kensington and Chelsea, with Wycombe Square hitting the top spot with an average property price of £5,401,447.

Below are the top ranking streets in term of property value for all regions in the UK:

North - Lindasfarne Road, Jesmond, Newcastle, Postcode NE22; Average property price: £1,003,822

North West - Withinlee Road, Macclesfield, Postcode SK10; Average property price: £1,205,833

Yorkshire and the Humber - Royal Gardens, Harrogate, Postcode HG2; Average property price: £720,800

West Midlands - Alderbrook Road, Solihull, Postcode B91; Average property price: £908,750

East Midlands - Valley Road, Nottingham, Postcode NG2; Average property price: £851,000

East Anglia - Sedley Taylor Road, Cambridge, Postcode CB2; Average property price: £958,440

South West - Brudenell Avenue, Poole, Postcode BH13; Average property price: £1,927,491

South East - Moles Hill, Leatherhead, Postcode KT22: Average property price: £2,645,000

Greater London - Wycombe Square, Kensington and Chelsea, Postcode W8; Average property price: £5,401,447

Wales - Druidstone Road, Old St Mellons, Postcode CF3; Average property price: £621,000

House Price Fall & Forecast to Keep Falling
House prices fell in August by 0.9% according to the latest figures from Nationwide. This follows a fall of 0.5% in July and leads to a sharp decline in the annual house price inflation rate to 3.9% from 8.7% in June.

Falling prices are being blamed upon an increase in supply of properties for sale over the past few months. Byers have therefore found themselves with increased bargaining power and driving prices lower.

Several economists are now forecasting further falls, reasoning that only a shortage of supply was holding up prices. Capital Econommics see prices falling by 5% this year and a further 10% in 2011. It argues that house prices were disconnected from the real economy last year & the first half of this year. Now house prices are coming to reflect what is going on in the economy, and the threat of job losses, falling incomes etc having an impact on prices.

Also the securing of mortgage founding continues to be an issue for buyers and particularly for first-time buyers helping to stifle demand. In July, just 48,722 mortgages were approved for house purchases, a level consistent with falling prices.

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