Top London Prices Continue To Soar

The most expensive residential street in London now has an average house price of almost £7m.

Courtenay Avenue in Hampstead has an average property price of £6,803,900. It’s a cul de sac near Hampstead Heath and Kenwood House and properties there are large, often with big gardens and swimming pools.

The top end of the London property market is being driven by buyers from overseas. One example if Russian-Israeli diamond billionaire Lev Leviev, who spent £35m on a property in Courtenay Avenue.

Prices are cheaper in the capital’s next most expensive location: Chelsea Square, SW3. Here properties go for an average of £6,440,600. Here prices have gone up by over a million in a year, as last year the average price was £5,098,047. Jemima Khan is one local resident.

Just off Chelsea Square is third-placed Manresa Road, where terraced fifties houses combine with very expensive apartments, some of which used to be part of the old Chelsea College of Art.

Billionaire’s Row –as it is known – is Bishops Avenue in Barnet, but this wasn’t even in the top 20, although some properties here are worth £41m. That’s because there are a number of lower priced houses too.

The figures come from website Mouseprice and they indicate that London property prices in top locations have continued to rise throughout the last year. In 2006 the top street was Kensington Square in W8, where average prices were £5.5m.

In 2007 15 of the top 20 locations are in Kensington and Chelsea, and average prices in the top 13 streets are above £5m. Prices in the top ten locations are three to seven times higher than top prices in other areas.

A flat, due for completion in 2010, developed by brothers Christian and Nick Candy, will blow all these figures out of the water. It is expected to sell for over £100m. The address? A penthouse at One Hyde Park.