Do you reside on Frazer Shut, Parish Lane or Culverley Highway? Effectively likelihood is you reside on one in all London’s most reasonably priced streets.
That’s in line with the most recent analysis by London lettings and property agent, Benham and Reeves, who discovered that the home worth distinction between London’s most and least reasonably priced road names is a whopping 1,770%.
Benham and Reeves analysed bought worth information from the Land Registry wanting on the worth paid for property throughout the London market up to now this yr by road identify, earlier than revealing which road names have boasted probably the most reasonably priced price ticket, and which maintain the least reasonably priced (Jan to June 2023 – newest out there).
With a median home worth of £527,979, London stays by far the most costly area of the UK housing market. Nonetheless, the analysis by Benham and Reeves exhibits that affordability may be discovered if you happen to look in the fitting locations.
The analysis exhibits that Frazer Shut is London’s most reasonably priced road identify. To date this yr, houses bought on streets known as Frazer Shut have averaged simply £115,000.
In second place is Parish Lane with a median bought worth of £144,000, adopted by Culverley Road at £150,000.
Different road names to make the highest 10 of London’s most reasonably priced embody Heathdene Drive (£208,000) and St James’s Highway (£210,000).
In distinction, Kingston Hill ranks because the capital’s most costly street identify, with houses bought up to now this yr averaging an enormous £2.15m – 1,770% greater than London’s most reasonably priced street.
Walton Road (£1.85m), Bolton Gardens (£1.8m), Bouverie Highway (£1.7m) and Kensington Excessive Road (£1.7m) additionally rank as among the most costly London street names.
Director of Benham and Reeves, Marc von Grundherr mentioned, “Affordability will not be a time period that many affiliate with the London housing market and within the capital’s most fascinating areas, a shoe field sized house can find yourself costing you greater than the typical UK dwelling.
However that’s to not say there aren’t bargains to be discovered for these pursuing a London property buy. As our analysis exhibits, the likes of Frazer Shut have, up to now this yr, boasted a median bought worth that hardly breaks the £100,000 mark.
In fact, the London market might be the one space of the UK the place additionally, you will discover such an array of street names boasting a median bought worth pushing £2m.”