Top of the list is Knightsbridge, the street by Hyde Park that is home to embassies and luxury hotels, where buyers will need to stump up on average £21.4m for a residential address.
That is nearly three times the price of the typical home on the most expensive street outside the capital, and 60 times more than the average UK house price of £356,925, according to an analysis of Land Registry data by Lloyds Bank.
After property values dropped last year, house prices were largely flat until the summer, when they started rising again, underpinned by cheaper mortgages and a pickup in wage growth. With more rate cuts forecast next year, the cost of property is predicted to climb in 2025.
This story is from the December 23, 2024 edition of The Guardian.
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This story is from the December 23, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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