London's Elite Streets: Avenue Road, St John's Wood

House prices continue to rise in St John's Wood, and rise even higher in Avenue Road, where rows of multi-million pound mansions line this main corridor into central London. 
Average property value: £2,902,861

Property profile: 328 properties; 14 per cent are houses

Market history: 88 sales recorded since 2004; 82 per cent of sales were flats

The large plots of land along Avenue Road originally had much smaller homes on them which, over the years, have been replaced by luxurious mansions with large basement extensions housing indoor leisure complexes, state-ofthe-art home cinemas, hairdressing salons, spas and massage rooms. "It's a Billionaires Row," says local estate agent Richard Bernstone of Aston Chase.

Entrepreneurs Richard Branson and James Caan have had large homes in this prestigious north-west London district, as have supermodel Kate Moss, Paul McCartney and Rolling Stone Keith Richards. As a rule, these sought-after trophy homes rarely come up for sale.

Unusually, however, 10 mansions came to the market last year in Avenue Road, with prices ranging from £15 million to a staggering £65 million. With 10,000-25,000 square feet of living space, they arguably represent greater value than property in the heart of prime central London, according to Bernstone.

Anthony Payne, of Lonres, adds: "So far this year, houses on Avenue Road have averaged £29.7 million. Over the last 10 years, average prices per square foot have increased by 126 per cent, outperforming the wider NW8 postcode which has still seen average prices rise by 101 per cent."

There are three houses and 18 flats currently for sale in Avenue Road. The flats range from £795,000 to £5 million, while the three houses have prices ranging from £15.5 million to £25 million.

This analysis was carried out by the property data company Lonres who work in association with the property analytics business, Dataloft.
Sources: Lonres, VOA, Zoopla


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