Date:Tuesday 4th January 2011
Author: Susanna Kavka
New research conducted by Halifax and Lloyds TSB has revealed where the most expensive properties lie, with a source from the former organisation pointing out that such houses tend to be clustered in small areas.
Nitesh Patel, housing economist at Halifax, noted that the priciest street in the UK is Parkside in Merton, but he claimed the value of homes in south-west London is being driven up by high demand.
He said: “The biggest concentration of expensive properties is in Kensington and Chelsea.
“The prime, central London location continues to attract affluent celebrities and ultra wealthy foreign businessmen.”
According to the study compiled by Halifax and Lloyds TSB, the most costly street outside of the capital was Withinlee Road in Macclesfield.
A report released by the latter company in December showed that 32 per cent of consumers believe they are more in control of their finances than in previous years, while 57 per cent are generally more confident about managing their money.