The UK's most expensive streets in 2024 where house prices and rent costs are highest

The UK's most expensive streets to live on with the highest house prices and rent costs have been revealed, with Buckingham Gate in central London topping the list. According to Rightmove, properties on this Westminster street near Buckingham Palace and the Houses of Parliament are selling for an average price of a staggering £9.6 million.

Outside of London, Old Avenue in Weybridge, Surrey, has the highest average asking price so far in 2024, at £2.6 million as per the property website's findings. Following Buckingham Gate, Vicarage Gate in Holland Park, west London, has the next highest average asking price at £6.3 million

Rightmove reports that sales searches for London boroughs including Mayfair, St John's Wood and Holland Park have seen an increase this year compared to last year, with these areas being home to some of the priciest properties across the country.

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In terms of rental properties, the highest rent costs were found in Albion Street in Bayswater, central London, at £20,857 per month. This was followed by Pavilion Road in Knightsbridge, central London, where renters can expect to pay an average of £15,251 per month for a new let.

Outside London, Rightmove found the highest average monthly rent was in London Road in Ascot, Berkshire, at £6,831 per month. Manor Road in Chigwell, Essex, had average asking rents of £4,311.

Meanwhile, those looking to rent in Manchester city centre can expect to face average monthly rents of £3,766 on Deansgate, which is one of the most expensive streets outside London, according to the research.

Tim Bannister, Rightmove's property expert, said: "London's status as the hub of luxury property in the UK remains unchallenged, with Buckingham Gate in Westminster commanding the highest average asking price.

"Although the possibility of buying one of these homes is limited to a very lucky few, there's clearly a fascination with these prestigious homes as we find they're often among our most viewed properties on Rightmove."

Rightmove's research was based on streets where there have been at least five properties for sale and rent this year, and so not all streets have been included. The findings were released as separate research indicated that one in five aspiring first-time buyers do not think they will be in a position to make a purchase until they are at least in their 40s.

The survey, from Nationwide Building Society, found that nearly half of people looking to get on the property ladder believe their prospects of owning a home are further away than ever due to the cost-of-living crisis.

When asked about the biggest barriers to getting that first home, nearly a third highlighted saving for a deposit, while 44 percent pointed to issues with affordability. A fifth said finding somewhere in their price range is an issue, 14% highlighted being able to afford the monthly repayments, and one in 10 pointed to the ability to borrow enough for the mortgage.

Top 5 streets with the highest average asking prices in 2024:

1. Buckingham Gate, Westminster, £9,633,333

2. Vicarage Gate, Holland Park, £6,332,000

3. Park Road, St John's Wood, £5,814,285

4. St John's Wood Road, Maida Vale, £5,389,444

5. Cadogan Square, Knightsbridge, £4,834,500

Streets with the highest house price tags in 2024 outside of London:

1. Old Avenue, Weybridge, Surrey, £2,633,333

2. The Ridgeway, Cuffley, Potters Bar, Hertfordshire, £2,289,286

3. Manor Road, Chigwell, Essex, £2,219,444

4. Swithland Lane, Rothley, Leicester, £2,024,000

5. Norsey Road, Billericay, Essex, £1,800,000

Top 5 streets with the most expensive monthly rents:

1. Albion Street, Bayswater, £20,857

2. Pavilion Road, Knightsbridge, £15,251

3. Duke Street, Mayfair, £14,441

4. Prince of Wales Terrace, Kensington, £13,734

5. Cheval Place, Knightsbridge, £13,611

Streets with the most expensive monthly rents on average outside London:

1. London Road, Ascot, Berkshire, £6,831

2. Manor Road, Chigwell, Essex, £4,311

3. Deansgate, Manchester, £3,766

4. Holloway Drive, Virginia Water, Surrey, £2,986

5. Ingrave Road, Brentwood, Essex, £2,898