UK Property Values Rising: Kensington Palace Gardens on Top
Current research shows that UK property values are rising, and the number of properties worth over 1 million pounds is up by 23 percent in the past year.
Topping the list (by quite a lot) is the UK's most expensive street, again, Kensington Palace Gardens. Along with all of the UK's other 19 most expensive streets, Kensington Palace Gardens is located in Britain's capital city of London. At 156 times more expensive than the average home price in the UK, Kensington Palace Gardens' average property is valued at £36,066,148. That's right, over $54,700,000!
The next highest priced street is The Boltons in SW10, which used to house international superstar Madonna, with an average property value at £23,375,758.
The highest priced area to live is also Kensington, with an average home priced at £2,326,439, followed by Knightsbridge, which averages £2,034,706. Other pricey areas in Britain included Chelsea, Virginia Water in Surrey, and Cobham in Surrey.
Britain had an extremely high number of million-pound-plus average valued streets with 8,230. As previously mentioned, this is a figure that has risen by 23% in the last 12 months alone. 2,789 of these million-plus streets are located in London, among them the top 20 most expensive in all of the UK.
The average price of a "normal" home in the UK stands at £230,924, several times below that of London or any of the most expensive streets.
What do you think of these incredible figures and average home values? How do these numbers affect you in the current marketplace?
Let us know your thoughts in the comment section below.
Photo courtesy of Dunc(an’t stand this new layout!)’s Flickr