Even considering recent growth in the UK housing market, the soaring cost of London based properties has come as something of a surprise. The value of homes in Central London rose at their fastest pace in months during February, thanks primarily to the depreciation of the British pounds and its appeal to international investors.
The average property price in London climbed by 0.9% during January, with the figures suggesting that the value of London homes will continue to rise throughout 2013. This growth is at odds with the struggling British economy, which continues to teeter on the very precipice of an unprecedented triple dip recession.
London’s Most Luxurious Streets
With this in mind, it is worth considering which London streets are renowned as the most luxurious, while also evaluating the cost of housing in these highly coveted regions. Keep the following in mind: -
Egerton Crescent, South West London
This quiet and well presented terrace may be pleasing on the eye, but it has recently been named as the most expensive street in the whole of Britain. Located in the Royal Borough of Kensington and Chelsea in South West London, properties on this street are currently selling at record high price points. The average home on Egerton Crescent costs more than £8 million, while four bedroom family properties have been known to sell for as much as £12 million. Home to numerous fashion and banking executives from the UK’s leading firms, it has emerged as one of the most prosperous geographic locations in the whole of Britain.
Parkside in Merton, South West London
While Egerton Crescent may represent the modern incarnation of Billionaire’s Row, the affluent suburb of Parkside in Merton is not far behind in terms of cost. Within touching distance of the famed Wimbledon Tennis venue in the heart of South West London, the average home in Parkside will set you back approximately £5.1 million, while its high end properties will sell for more than £8 million. While this location has not been historically renowned as a trendy or thriving London location, soaring demand has triggered a dramatic and unrelenting rise in property prices.
Campden Hill Square, Kensington
One London region which is synonymous will style and culture is Campden Hill Square, which remains one of the most trend conscious boroughs throughout the entire UK. Based in the affluent area of Kensington in West London, the average property is likely to cost a little over £4.8 million, while the venue is close to an array of high quality restaurants, attractions and transport links. A favourite destination for tourists and out of town visitors, Campden Hill Square has remained enduring popular thanks to its busy and bustling pace, and the value of its property has increased steadily over the years.
About the Author: Lewis is a blogger and researcher based in the UK, and he has a passion for luxury travel and locations. If you are looking for luxury houses for sale in London – Brooks Gordon offers an array of properties within various budgets.