Grosvenor Square in London's Mayfair is the UK's most expensive street, with an average home selling at £20.35 million ($25.73 million), figures show.
The square, established in the 18th century, has long been associated with prestige and high social standing.
Its proximity to central London's key cultural and economic areas makes it highly sought after.
The UK’s 10 most expensive streets are all in London, with an average price tag of more than £14.5 million, research from the Halifax bank found.
Close competitors to Grosvenor Square in terms of price include Clarendon Road in Notting Hill and Knightsbridge road.
Both areas have average property prices around the £20 million mark.
The contrast between these high-priced areas and the average UK house price, which stands at £283,615, is stark.
Homes in the most expensive streets are about 72 times more expensive than the average UK home.
London's position as a leader in the luxury property market is clear but there are also high-value properties outside the capital.
East Road in Weybridge, Surrey, for instance – about 30km from central London – has an average home price of more than £9 million, making it the most expensive street outside of the capital.
In Wales, the most expensive streets start at about £1.3 million.
Kim Kinnaird, mortgages director at Halifax said: “Buying any home is expensive and likely to be the biggest single purchase most people will ever make.
“Purchasing a property on one of Britain’s most expensive streets comes with a colossal price tag and it’ll be no surprise that house prices in London continue to dominate, with the top 10 priciest streets to buy a home all in the capital."
According to Beauchamp Estates, a super-prime estate agent, London's luxury property market has undergone a significant increase in activity, with a notable rise in the average value and size of properties sold in Mayfair compared to previous years.
Luxury Mayfair penthouse sold for £30 million
A businessman from Abu Dhabi recently acquired a luxurious penthouse in Mayfair, London, for £30.45 million.
The transaction involved three properties within Greybrook House, a Grade II listed building known for its Art Deco style.
This acquisition marks one of the largest apartment transactions in Mayfair for 2023.
Lord Byron's former Mayfair residence on sale
The former Mayfair home of Lord Byron has been placed on the market.
The property, at 139 Piccadilly, is not only steeped in literary history but also has a rich architectural heritage.
The Grade II town house, spanning 15,339 square feet over six floors, is currently valued at £29.5 million. However, with plans for refurbishment, its worth is projected to exceed £70 million.
The Orwell Prize for Political Writing
Twelve books were longlisted for The Orwell Prize for Political Writing. The non-fiction works cover various themes from education, gender bias, and the environment to surveillance and political power. Some of the books that made it to the non-fiction longlist include:
- Appeasing Hitler: Chamberlain, Churchill and the Road to War by Tim Bouverie
- Some Kids I Taught and What They Taught Me by Kate Clanchy
- Invisible Women: Exposing Data Bias in a World Designed for Men by Caroline Criado Perez
- Follow Me, Akhi: The Online World of British Muslims by Hussein Kesvani
- Guest House for Young Widows: Among the Women of ISIS by Azadeh Moaveni
The five pillars of Islam
Results
4pm: Al Bastakiya Listed US$300,000 (Dirt) 1,900m; Winner: Emblem Storm, Oisin Murphy (jockey), Satish Seemar (trainer).
4.35pm: Mahab Al Shimaal Group 3 $350,000 (D) 1,200m; Winner: Wafy, Tadhg O’Shea, Satish Seemar.
5.10pm: Nad Al Sheba Turf Group 3 $350,000 (Turf) 1,200m; Winner: Wildman Jack, Fernando Jara, Doug O’Neill.
5.45pm: Burj Nahaar Group 3 $350,000 (D) 1,600m; Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass.
6.20pm: Jebel Hatta Group 1 $400,000 (T) 1,800m; Winner: Barney Roy, William Buick, Charlie Appleby.
6.55pm: Al Maktoum Challenge Round-3 Group 1 $600,000 (D) 2,000m; Winner: Matterhorn, Mickael Barzalona, Salem bin Ghadayer.
7.30pm: Dubai City Of Gold Group 2 $350,000 (T) 2,410m; Winner: Loxley, Mickael Barzalona, Charlie Appleby.
'Of Love & War'
Lynsey Addario, Penguin Press
UAE currency: the story behind the money in your pockets
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How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
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More coverage from the Future Forum
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UAE currency: the story behind the money in your pockets
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Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
The Saudi Cup race card
1 The Jockey Club Local Handicap (TB) 1,800m (Dirt) $500,000
2 The Riyadh Dirt Sprint (TB) 1,200m (D) $1.500,000
3 The 1351 Turf Sprint 1,351m (Turf) $1,000,000
4 The Saudi Derby (TB) 1600m (D) $800,000
5 The Neom Turf Cup (TB) 2,100m (T) $1,000,000
6 The Obaiya Arabian Classic (PB) 2,000m (D) $1,900,000
7 The Red Sea Turf Handicap (TB) 3,000m (T) $2,500,000
8 The Saudi Cup (TB) 1,800m (D) $20,000,000
The biog:
From: Wimbledon, London, UK
Education: Medical doctor
Hobbies: Travelling, meeting new people and cultures
Favourite animals: All of them
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
