Britain's most expensive streets revealed: No end to the house price boom as 40,000 new property millionaires are created across the UK this year - but how does YOUR area fare?
• Some 660,900 homes estimated to be worth at least £1 million in Britain
• Marks an increase of over 40,800 new property millionaires since January
• Yet 82 per cent of the houses are in London or the South East of England
• Just 1.28 per cent of them are in Scotland and 0.25 per cent in Wales
• And London takes all top 10 spots in the country's priciest streets
By FRANCIS SCOTT FOR MAILONLINE
PUBLISHED: 00:23, 30 September 2016 | UPDATED: 07:27, 30 September 2016
More than 40,000 new property millionaires have already been created across Britain this year, as there appears to be no let up in the spiralling house price boom.
Some 660,900 homes across the country are estimated to be worth at least £1 million – an increase of over 40,800 since January.
Yet not everyone is getting as large a slice of the property boom pie, as four out of five (82 per cent) of the houses are in London or the South East of England.
How does your region compare? Map showing the percentage of property millionaires per region, top, and Britain's most expensive streets, below
Britain's most expensive street: An average house in Kensington Palace Gardens, central London, will set you back a cool £38.26 million
In The Boltons, Kensington and Chelsea, an average house costs an enormous £33.31 million
The latest research from Zoopla shows Kensington Palace Gardens was identified as Britain's most expensive street, retaining its title from last year.
Nestled in the W8 postcode of the capital, one of the area's imposing mansions will set you back on average a cool £38.26 million.
New buyers on 'the boulevard of billionaires' will find amongst their many notable neighbours Russian oligarch Roman Abramovich and steel magnate Lakshmi Mittal.
Amazingly enough however, these owners have seen an average of more than £4 million wiped off the value of their properties in the Gardens, proving it is not all boom, even for the super rich.
The latest research from Zoopla shows all 10 of Britain's most expensive streets are in London
Ranked as the second most expensive street, a home in the SW10 postcode still costs some £5 million less than Kensington Palace Gardens.
For plutocrats fancying a more affordable location, perhaps The Boltons in Kensington and Chelsea is of appeal.
Ranked as the second most expensive street, a home in the SW10 postcode costs an average £33.31 million, a £5 million saving from the city's priciest location.
Third is Grosvenor Crescent in Belgravia, with properties averaging £21.6 million - although again this figure is down by about 800,000 from last year.
London in fact claims all ten of Britain's most expensive streets; even last on the list a house in Chester Square will typically set a buyer back an eye-watering £10,635,410.
Outside of the city it is Virginia Water in Surrey, with the postcode GU25, that comes closest with an average property price of a mere £1.3 million in comparison.
Across the whole of Britain, some 12,418 streets now have an average house price of over £1 million, according to the property website's calculations.
Manresa Road in London, with the postcode SW3. One of these gems costs on average a mere £13.28m
Ilchester Place by Holland Park comes in at number eight with a £12.77m average house
But while 60 per cent of the property millionaires live in London, with 22 per cent in the South East, just 1.28 per cent call Scotland their home, roughly 8460 homeowners.
In Wales the number of million pound houses does not even stretch to 2000, with just 0.25 per cent of all the property millionaires putting their feet up in Welsh abodes.
Yet even in the capital there are neighbourhoods where prices have fallen due to economic uncertainty and a recent change in stamp duty, which makes it more expensive to buy top-end residences.
Grosvenor Crescent in central London, the third most expensive street in the UK with an average property costing £21.64m
Some 660,900 homes across the country are estimated to be worth at least £1 million
Zoopla said the W8 postcode in Kensington, the W11 in Notting Hill and the W1 in the West End have seen their property values fall 4.2 per cent, 5.2 per cent and 3.5 per cent respectively over the past 12 months.
In the South East, many of the high-end homes are clustered around the commuter belt, where in Guilford, Surrey, alone there are some 184 millionaire-property streets.
There are 162 such roads in Reading and Berkshire, and in Sevenoaks in Kent 150 streets top the million-pound marker.
House prices expected to rise by six percent over 2016
The latest research from Zoopla shows Grosvenor Crescent in central London was identified as Britain's third most expensive street
More than 40,000 new property millionaires have been created across Britain this year
The lofty limit is also reached by 44 per cent of road in Esher, Surrey, and by 42.6 per cent of streets in Beaconsfield, Buckinghamshire.
Zoopla spokesman Lawrence Hall said: 'It's interesting to see some property values in the most expensive neighbourhoods decreasing over the past 12 months.
'Whilst London will always attract buyers for trophy homes from across the globe, those looking for million pound-plus homes should also consider areas outside the capital.'
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