Millionaires take note. A street in London has been crowned the UK’s most expensive. Homes on Egerton Crescent, a neoclassical terrace in Kensington, west London, had an average selling price of £14.5 million over the past year, according to the Land Registry.

The stucco-fronted houses, a few minutes’ walk from Hyde Park, cost 51 times the £284,000 average price of a British home.

The previous most expensive street was Albemarle Street in Mayfair, with an average sale price of £14.3 million.

The Bishops Avenue in Hampstead, north London, long known as Billionaires’ Row, has fallen to seventh.

“The days of houses there reputedly being worth £300 million or more may have passed,” says Liam Brooke, co-founder of Lendy, a peer-to-peer property lending platform that analysed the Land Registry data.

Each street had to have at least three sales in the year to be included in the analysis, excluding Kensington Palace Gardens, where the likes of Roman Abramovich own homes.

The street with the lowest average price is Barrington Terrace in the former mining village of Ferryhill, Co Durham. Homes there sold for £20,167 in the last year.