Upper Phillimore Gardens in Kensington, W8
(Picture: Graham Hussey)The UK’s most expensive street to buy a home in 2022 has been named as Phillimore Gardens in Kensington, west London, where property prices are now an eye-watering £23.8 million on average.
Largely made up of white stucco-fronted, three and four-storey period homes, the tree-lined street runs parallel to the south section of Holland Park and the Design Museum in Kensington High Street.
Celebrities to have snapped up homes around Holland Park in recent years include the Beckhams, Simon Cowell and Robbie Williams.
The average property price in Phillimore Gardens is currently £1.4 million less than a year ago, according to the report by Halifax. Last year’s list of priciest streets saw Phillimore Gardens’s average of £25.2 million beaten by the £29.9 million price tag commanded in Tite Street in Chelsea.
With a current average house price of £23.8 million, homes in Phillimore Gardens are more than 80 times the UK average which hit a record high of £296,400 in October.
All 10 of the most expensive streets for 2022 are in London.
Second this year was Grosvenor Square in Mayfair (£23.5 million) followed by Ilchester Place in the Holland Park area of west London (£17.7 million) which is up four places from 2021.
The 10 most expensive streets of 2021
Street name |
Postcode |
Average house price |
Phillimore Gardens |
W8 |
£23,802,000 |
Grosvenor Square |
W1K |
£23,549,000 |
Ilchester Place |
W14 |
£17,678,000 |
Grosvenor Crescent |
SW1X |
£15,440,000 |
Clarendon Road |
W11 |
£14,950,000 |
Ashburton Place |
W1J |
£14,732,000 |
Lansdowne Road |
W11 |
£14,621,000 |
The Vale |
SW3 |
£14,020,000 |
Knightsbridge |
SW1X |
£14,009,000 |
Chelsea Square |
SW3 |
£13,231,000 |
Source: Land Registry and Royal Mail
The report from Halifax uses sales prices across England and Wales for the five-year period of January 2017 to September 2022. Only streets where there have been at least three transactions have been included.
“Buyers have been particularly active in London’s most expensive postcodes as the uncertainty of Brexit fades and the frustration of Covid travel restrictions recedes,” said Tom Bill at Knight Frank.
“A total of £2.8 billion was spent in the 12 months to October 2022, which was the highest figure in seven years.
“These markets are not immune to higher borrowing costs but the fact cash buyers make up around half of sales will protect prices to some degree. A weak pound and the fact prices are still more than 10 per cent below their 2014 peak in many areas will also support demand.”
Most expensive streets outside London
Just one street outside of London made it into the UK’s top 20 this year. In 12th place is Titlarks Hill in Ascot where prices are now £12.3 million on average. Located beside the exclusive Sunningdale Golf Course, the private road is largely made up of grand detached houses — one sold for more than £20 million in 2017.
Among the South East’s most expensive streets, second and third to Titlarks Hill in Ascot, were Westbrook Hill in Godalming (£9 million) and East Road in Weybridge (£8.4 million).
In the South West, five of the 10 most expensive streets are in Poole, Dorset, with Lawrence Drive in first place with a price tag of £4.1 million. Weston Park in Bath (£3.3 million) came second while Mornish Road in Poole (£1 million) came third.
The most expensive street in the North East of England is Durham’s Ramside Park (£1.6 million) which is followed by Gubeon Wood in the market town of Morpeth (£1.5 million). The majority of the North East’s 10 most expensive streets are now found in Newcastle Upon Tyne.
In the North West, Broadway in Altrincham town took the top spot with an average of £3.2 million with four other streets in Altrincham in Trafford, Greater Manchester, making the top 10 for the region.
Manor House Lane in Leeds took the top spot for the Yorkshire and the Humber region with a price tag of £2.4 million, while Solihull’s Bakers Lane (£2.3 million) came in first place for the West Midlands and Warren Hill in Leicester (£1.6 million) is the most expensive in the East Midlands.
In the East, six of the most expensive streets have average prices over £3 million. The priciest street is now Chaucer Road in Cambridge (£4.2 million).
Benar Headland in Pwllhel, on the east-facing south coast of the LlÅ·n Peninsula, has an average house price of £1.7 million and takes the top spot for Wales.
