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The most in-demand prime London streets bucking Brexit uncertainty

Leading London lettings and estate agent, Benham and Reeves, has revealed the capital’s prime and super prime streets where buyer activity remains robust despite a wider market freeze due to an uncertain political landscape.

Benham and Reeves analysed property sales between £3m and £10m and £10m+ over the last 12 months to find the streets that remain hot for London’s high-end home buyers and how much they’re paying.

Prime London

In the last year, the prime market (£3m-£10m) has seen a total of 917 sales across London with an average price paid of £4.5m, and sales totaling £4.1bn.

The most sought after road in London at this level of the market is Blackfriars Road in Southwark with a huge total of 51 sales in the last 12 months totaling £227.5m – the largest total sales value.

Bishops Avenue in Barnet and Chiltern Street in Westminster rank second with 13 sales apiece, with Marylebone Lane, also in Westminster, and Campden Hill in Kensington and Chelsea, Water Lane in the City of London, Waterfront Drive in Hammersmith and Fulham and Young Street in Kensington and Chelsea also amongst the most in-demand with six sales each.

Campden Hill was also home to the highest average price per sale at almost £7.6m.

Super Prime London

At the very top end of the London market, there has been a total of 79 transactions in the last 12 months, averaging £17.2m a sale with a total of £1.4bn worth of property sold.

Ashburton Place in Westminster tops the table with six transactions, followed by Avenue Road, also in Westminster, with four transactions. Wilton Crescent in Westminster and Tregunter Road and Campden Hill, both in Kensington and Chelsea, have also seen three sales each in the last year.

Ashburton Place not only tops the table for transactions but is home to the highest average sold price at a staggering £27.5m, as well as the highest total value of property sold at £165.4m.

Managing Director of Benham and Reeves, Anita Mehra, commented:

“The continued political and economic uncertainty caused by our prolonged departure from the European Union has had an impact on buyer sentiment across London’s high-end market, and we’ve seen this caution lead to a fall in transactions and a decline in the price achieved during a sale to a certain extent.

However, to have seen as many as six sales transact over the ten million pound mark on one street alone is proof that London remains one of if not the most desirable market in the world, despite this tougher landscape.

In addition to this, it seems as though we have very much seen the bottom of the market over the last few months and there has already been a notable uplift in buyer and seller activity which is already stimulating the prime and super prime markets.”

Prime London Streets – by number of sales between £3m-£10m in the last 12 months
Number of sales	Street	Borough	Average Price	Total value
51	BLACKFRIARS ROAD	Southwark	£4,460,554	£227,488,249
13	THE BISHOPS AVENUE	Barnet	£4,830,769	£62,800,000
13	CHILTERN STREET	City of Westminster	£4,363,969	£56,731,600
9	MARYLEBONE LANE	City of Westminster	£5,142,678	£46,284,100
6	CAMPDEN HILL	Kensington and Chelsea	£7,573,974	£45,443,843
6	WATER LANE	City of London	£5,071,917	£30,431,500
5	RATHBONE PLACE	City of Westminster	£5,879,828	£29,399,140
5	CARLTON HILL	City of Westminster	£5,380,000	£26,900,000
6	YOUNG STREET	Kensington and Chelsea	£4,160,000	£24,960,000
6	WATERFRONT DRIVE	Hammersmith and Fulham	£4,113,600	£24,681,600
4	REGENTS PARK ROAD	Camden	£6,069,875	£24,279,500
4	TITE STREET	Kensington and Chelsea	£5,744,610	£22,978,440
4	SOUTH STREET	City of Westminster	£5,568,750	£22,275,000
5	EATON PLACE	City of Westminster	£4,090,690	£20,453,450
4	ABINGDON ROAD	Kensington and Chelsea	£4,418,750	£17,675,000
917	All Sales		£4,569,742	£4,190,453,173

Super Prime London Streets – by number of sales at £10m and above in the last 12 months
Number of sales	Street	Borough	Average Price	Total value
6	ASHBURTON PLACE	City of Westminster	£27,568,085	£165,408,507
4	AVENUE ROAD	City of Westminster / Camden	£22,837,500	£91,350,000
2	ILCHESTER PLACE	Kensington and Chelsea	£21,425,000	£42,850,000
2	MOUNT STREET	City of Westminster	£21,250,000	£42,500,000
2	CHESTER SQUARE	City of Westminster	£20,294,250	£40,588,500
3	WILTON CRESCENT	City of Westminster	£17,666,667	£53,000,000
3	TREGUNTER ROAD	Kensington and Chelsea	£15,716,667	£47,150,000
2	HOLLANDGREEN PLACE	Kensington and Chelsea	£14,187,500	£28,375,000
2	MULBERRY WALK	Kensington and Chelsea	£13,750,000	£27,500,000
2	CHESTER TERRACE	Camden	£12,750,000	£25,500,000
2	LANSDOWNE ROAD	Kensington and Chelsea	£12,497,950	£24,995,900
2	EATON PLACE	City of Westminster	£12,245,000	£24,490,000
3	CAMPDEN HILL	Kensington and Chelsea	£12,105,208	£36,315,625
2	HORTENSIA ROAD	Kensington and Chelsea	£11,950,000	£23,900,000
2	HAMILTON TERRACE	City of Westminster	£11,300,000	£22,600,000
79	All Sales		£17,193,545	£1,358,290,052

Note:
Source: Land Registry Price Paid Data

About the Author

For 35 years Anita has been the driving force behind Benham and Reeves’ success as it has grown from a single branch in Hampstead, to one of central London’s oldest, independently owned sales, letting and property management companies. Anita's vision has driven the expansion of the business to offer a complete range of property investment related services from under one roof, from purchase to handover, furnishings and/or refurbishment to lettings and property management. Read more about Anita Mehra here - Read full profile

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