The number of streets where homes cost more than £1m has grown by 16 per cent over the past year, new figures reveal.
But the value of property on the most expensive street in Britain has fallen by £2.5m and, in fact, prices have declined on half of the top 10 priciest roads as London's high-end market cooled.
The average cost of a house on swanky Kensington Palace Gardens in west London is now cheaper, though very much still eye-watering, at £35.7m. And the cost of a home on The Boltons in south west London has dropped by 40 per cent, from £33.3m to £19.9m.
Some 90 per cent of the country's most expensive streets are located in the south and 40 per cent are in the capital, with the 10 most expensive streets in the country all located in the city
The priciest roads rich list
|Rank||Street||Average value of property||Change on last year|
|1||Kensington Palace Gardens, W8||£35,696,711||-6.7%|
|2||Grosvenor Crescent, SW1X||£21,984,033||+1.6%|
|3||The Boltons, SW10||£19,858,239||-40.4%|
|4||Courtenay Avenue, N6||£18,973,761||-0.14%|
|5||Ilchester Place, W14||£15,311,090||+19.9%|
|6||Compton Avenue, N6||£13,739,572||+4%|
|7||Manresa Road, SW3||£12,587,961||-5.22%|
|8||Cottesmore Gardens , W8||£11,969,745||+10.66%|
|9||Albemarle Street, W1S||£11,371,851||New|
|10||Chester Square, SW1V||£10,630,003||-0.05%|
"Despite London's property market cooling over the past year, it's no surprise that the capital's most exclusive boroughs continue to dominate the list," said Zoopla spokesperson Lawrence Hall.
"This is partly thanks to some incredibly luxurious properties benefiting from unbeatable locations near the heart of the city."