Posted by Staff writer on Jan 01, 2013 11:21 AM EST

South Kensington Street Named UK’s Most Luxurious Street

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Priciest Streets in the Country more big
Egerton Street at South Kensington, England named the priciest street in the country (Photo : Михал Орела/Flickr)

United Kingdom's real estate market did not see many changes in 2012. The lurking recession kept the prices low, but in some parts only.

Some areas of U.K. ooze class and luxury and sport houses that are priced 32.5 times more than an average house price. Egerton Crescent in South Kensington has been crowned the most expensive street in the country, reported The Independent.

A study conducted by Lloyds TSB said that the properties on Egerton Street carry an average price tag of $8.1 million making the street the most expensive in Wales and England. In a recent property listing report, it was revealed that a 4 bedroom home sold for £12 million, which was around 74 times more than the average price of a house in UK, reported Telegraph.

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Earlier, a 5 bedroom residence sold for £430,000 in 1998 and more recently, the house sold for £10,500,000 in 2011 on the same street indicating that the street has been one of the priciest lanes for a while now, reported Daily Mail.

However, Egerton Crescent residents cannot have private gardens due to lack of space but they enjoy a communal garden, reported The Independent.

The ten most expensive streets in Wales and England were ranked by Lloyds TSB, a retail Bank of U.K. by using sales records of 2007-12.  The list of the ten costliest streets is given below:

1. Egerton Crescent, Kensington and Chelsea, London, average house price- £8.1 million

2. Parkside, Merton, London, average house price- £5.2 million

3. Campden Hill Square, Kensington and Chelsea, London, average house price- £4.9 million

4. Blenheim Crescent, Kensington and Chelsea, London, average house price- £4.7 million

5. Lansdowne Road, Kensington and Chelsea, London, average house price- £4.7 million

6. Home Park Road, Merton, London, average house price- £4.7 million

7. Drayton Gardens, Kensington and Chelsea, London, average house price- £4.4 million

8. Eaton Square, Westminster, London, average house price- £4.4 million

9. Lancaster Gate, Westminster, London, average house price- £4.4 million

10. Duchess of Bedford's Walk, Kensington and Chelsea, London, average house price- £4.2 million

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