These Are the Priciest Streets in All of Great Britain
Barnet, in North London, lays claim to two of the country’s most expensive roads to own a home.
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Winnington Road, lined in red-brick mansions, some set behind tall hedges and many with gated entries, spans a leafy stretch of the North London borough of Barnet.
It’s also the most expensive street in Great Britain, according to a report Monday from Rightmove.
A home on the well-to-do street, which is close to Highgate Golf Club and Hampstead Heath, has an average asking price of £12.5 million (US$17.7 million), the online property portal said.
The most expensive home for sale on the street is a 10-bedroom house asking £17.95 million.
London lays claim to many of the most expensive streets in the U.K.
Chester Square in London’s Westminster ranked as the second-priciest street, with an average asking price of £11.5 million. The Bishops Avenue, also in Barnet, rounded out the top three, with an average price tag of £8.9 million.
“This year’s top 20 [most expensive] is taken up almost entirely by London addresses, showing the city still reigns supreme when it comes to ultra-prime property,” Colleen Babcock, Rightmove’s property expert, said in the report.
“For buyers looking for prestigious roads outside of the hustle and bustle of London, Elmbridge in Surrey is flying the flag for the rest of the country as the only area outside the capital to make the top 20 list,” Babcock said.
Homes on East Road in Elmbridge—about 20 miles southwest of central London—have an average asking price of £8.8 million.
Outside of England, Drumsheugh Gardens in Edinburgh is the most expensive street in Scotland with an average asking price of £560,000. Hollybush Road in Cardiff, where homes ask an average of £1.2 million, is the most expensive in Wales.
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Australia’s median advertised rent has climbed to a record high, with every capital city recording quarterly price growth despite a slight lift in vacancy rates.
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Australia’s rental market has reached a new milestone, with national median advertised rents climbing to a record $670 per week in the June quarter as prices continued to rise across every capital city.
New data from realestate.com.au shows national rents increased 3.1 per cent over the quarter and 6.4 per cent over the past year, while capital city rents rose 2.2 per cent over the quarter to a median of $690 per week, up $10 from the March quarter.
REA Group economist Luc Redman said rental price growth had continued despite a small increase in vacancy rates.
“National median rents reached a new high in the June quarter, with widespread price growth across the capitals,” he said.
“The rent increases occurred despite a small increase in the rental vacancy rate over the same period.”
Melbourne and Perth recorded the strongest quarterly growth among the capitals, with rents increasing 3.5 per cent in each city. On an annual basis, Perth led the nation with rental growth of 10.3 per cent, followed by Hobart at 9.1 per cent and Darwin at 7.7 per cent.
Sydney remained Australia’s most expensive city for renters, with a median advertised rent of $800 per week, while Melbourne and Hobart were the most affordable capital cities at $600 per week.
Regional markets were more subdued, with rents holding steady over the quarter but remaining 5.3 per cent higher than a year ago, suggesting the rapid pace of growth outside the capitals has eased.
Mr Redman said the full impact of the Federal Budget’s changes to investor tax settings was yet to be seen.
“The May Federal Budget, which announced sweeping changes to investor tax settings, occurred in the middle of the quarter, so the full impact on the rental market is yet to be seen,” he said.
“While the vacancy rate has edged higher, the expected decrease in investor demand due to the budget’s tax changes could slow the pace of new supply, putting further pressure on rents.”
The report also found house rents continued to outpace units, rising 2.9 per cent across capital cities over the quarter compared with 1.5 per cent for units. Melbourne was the only capital where renting a unit was more expensive than renting a house, reflecting demand for well-located apartments.
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