London's most expensive streets: Avenue Road in St John's Wood takes the top spot in 2020 with an average house price of £30m

London’s most expensive street in 2020 has been revealed as Avenue Road in St John’s Wood, north-west London.

The average house price on the grand, leafy street was an astonishing £30.5 million, or 124 times the average UK house price.

It’s also almost twice as high as last year’s top-ranking street, Ilchester Place in Holland Park, where the average house price was £17.2 million.

According to the research from Lloyds Bank, just a few very high-value sales pushed Avenue Road to the top of the chart. In February a new-build 10-bedroom mega mansion on the street went on sale for £75 million, making it the most expensive residence to go on the London market at the time.

The 25,000sq ft neo-classical house was built on a plot bought for £14 million in 2013 by Greek property developer George Dragoumanos. The super mansion with subterranean spa area, 14-metre pool, sauna, hammam and treatment rooms, was also available to rent for £40,000 a week.

Avenue Road is a popular stomping ground for the super rich thanks to its large plots, which allow homes to be demolished and rebuilt.

Celebrity neighbours have included heavyweight boxing champion Anthony Joshua, who rented but has now moved out, while nearby residents have included singers Rihanna and Robbie Williams.

The second most expensive street in London was Tite Street in Chelsea, where the average house price was £28.9 million.

The street, running down to the Thames, is lined with attractive red brick mansion blocks. In the nineteenth century the then-newly built street was home to the era’s most famous London artists and writers, including Oscar Wilde, James McNeill Whistler and John Singer Sargent.

There is also a private entrance to Gordon House on the street. A long lease was sold on the Grade II-listed building for £75 million in 2012 and plans were submitted to build one of London’s biggest family home basements.

South Audley Street in Mayfair took third place on the list with an average house price of £22.8 million.

Last year’s most expensive street, Ilchester Place, had 2020’s fourth highest price tag of £16.6 million, £600,000 lower than in 2019. Bordering Holland Park, A-listers in the neighbourhood have included David and Victoria Beckham and Simon Cowell, while Robbie Williams has been embroiled in a long-running and bitter planning dispute with his neighbour, Led Zeppelin guitarist Jimmy Page.

All 10 of the most expensive streets in Britain were in the capital, however, the research showed significant price increases in other regions as city dwellers fled to more rural locations for more space in the wake of the coronavirus pandemic.

Streets in Surrey took spots 11-13 with South Ridge (£7.1 million) and East Road (£6.6 million) in Weybridge the next most expensive after London.

“It comes as no surprise that London continues to rule the roost of the country’s prime property market, however we are seeing a marked growth in prices in the South East and across other UK regions.

Andrew Mason, mortgage director of Lloyds Bank, said: “The average house price, in the most expensive streets in the South East has risen by over a staggering £1 million in the past year.

“Elsewhere your typical home on Wales’s most expensive street this year is just shy of £2 million, compared to last year’s top average of £900,000. Meanwhile the new priciest street in the North is located in Windermere, where your average home will also cost you north of £2 million, up from last year’s mean price of just over £1.5 million.”