"The London market is probably the only area of the UK where you will also find such an array of road names boasting an average sold price pushing £2m."
- Marc von Grundherr, director of Benham and Reeves
Analysing sold price data from the Land Registry for property prices across London, Benham and Reeves found that, with an average house price of £527,979, London remains by far the most expensive region of the UK housing market. But more affordable houses can be found if buyers look in the right places.
In London, Frazer Close is the most affordable street name, with an average price of £115k so far this year. This was followed by Parish Lane with an average selling price of £144k, and Culverley Street at £150k. Other streets featured in Benham and Reeves’ top 10 include Heathdene Drive (£208,000) and St James’s Road (£210,000).
On the other hand, Kingston Hill ranked as the capital’s most expensive road name, with homes sold this year averaging £2.15m. This is 1,770% more than London’s most affordable road. This was followed by Walton Street at an average selling price of £1.85m, Bolton Gardens (£1.8m), Bouverie Road (£1.7m) and Kensington High Street (£1.7m).
Commenting on these findings, Marc von Grundherr, director of Benham and Reeves, has said:
“Affordability may not be a term that many associate with the London housing market and in the capital’s most desirable locations, a shoe box sized apartment can end up costing you more than the average UK home.
“But that’s not to say there aren’t bargains to be found for those pursuing a London property purchase. As our research shows, the likes of Frazer Close have, so far this year, boasted an average sold price that barely breaks the £100,000 mark.”
