• Average price on Egerton Crescent now £14.5m
• 11 of the UK’s 20 most expensive streets in one-mile radius in west London

EGERTON CRESCENT, a neoclassical terrace in Kensington, is London’s new ‘Millionaires’ Row’, says Lendy, Europe’s leading peer to peer secured property lending platform.

Over the past year, the average residential property sale price* on Egerton Crescent was just over £14.5 million, 51 times the average residential property price in the UK, which was £284,000.

Residents of the street, which dates to the 1840s and has a private garden for residents at its centre, have included the late TV broadcaster and writer Sir David Frost, with other celebrities including David and Victoria Beckham, Kylie Minogue and Tamara Ecclestone, just around the corner.

Lendy says that seven of the Top 20 streets by prices in the entire UK are in Kensington alone. With a further three in Knightsbridge and one in nearby Holland Park, 12 of the Top 20 streets are within a one-mile radius in west London (see table and map below).

Mayfair’s South Audley Street, home to bespoke shotgun maker James Purdey & Sons and fine china retailer Thomas Goode, is the second most-expensive street in the UK, at an average price of £10.4m.

In third place is Kensington’s Phillimore Gardens, once home to Britain’s most expensive house, bought by Ukrainian businesswoman Elena Franchuk in 2008 for £80m. Many of the houses on the street feature so-called ‘mega-basements’, with swimming pools, parking and cinemas.

The property platform adds that The Bishops Avenue in Hampstead, north London, which has long been regarded as the UK’s ‘Millionaires’ Row’, has slipped to seventh place in the table, with property prices averaging £8.4m over the past year. Owners of houses on the street have reputedly included President of Kazakhstan Nûrsûltan Nazarbayev, the Sultan of Brunei, and steel magnate Lakshmi Mittal.

Lendy adds that the street with the lowest average price in the UK is Barrington Terrace, a row of terraced houses in the former coal-mining village of Ferryhill, County Durham. The average sale price of a house there in the last year was just £20,167, 86% lower than the national average price. A purchaser on Egerton Crescent could buy 721 properties on Barrington Terrace for the same price.

Liam Brooke, co-founder of Lendy, comments: “These figures underline just how robust the residential property market is in super-prime London. For people buying and selling residential property in Kensington and Knightsbridge, the effects of Brexit on the property market have so far been very minimal indeed.

“There will always be demand from internationally-mobile ultra high net worth individuals for super-prime central and west London homes, especially substantial period properties with the scope to build ‘mega-basements’.

“While the traditional ‘Millionaires’ Row’ of The Bishops Avenue has dropped down the list this year, houses there still command more than £8m on average. The days of houses there reputedly being worth £300m-plus may have passed, however.”