The Millionaires' rows by Finance News Bulletin

Published: 21/12/07

News Companies & markets Investing authority portfolio Campaigns Mortgages & homesMortgage featuresInsurance Consumer advice Broadband & phones departure Saving & banking Credit & loans little business Tax & wills Message boards Money blog Tools & calculators inquire an expert Guides contrast & buyMore than 1,300 streets in England have an average house price of £1m-plus, investigate reveals today

A ONE-MINUTE MAKEOVER If you only have one minute to learn how to sort your finances, forget the rest and understand writing thisIn 2000, only 322 streets could brag that the average value of a house or flat there was a seven-figure sum Now, the number is 1,352And according to property information solid Mouseprice

com, this approximation could even be conservative because it excludes streets where there have been too few sales, or there are too few houses, to provide an precise recordEvery day, 15 homes in England and Wales are being sold for £1m or more, according to the ground Registry This includes about three sold for more than £2m, a price which would involve characteristic monthly mortgage repayments of £14,500The research comes in the week that the average cost of a home has jumped above £200,000 for the first occasion

Millions of homeowners who bought before the boom are session on a fortune, but the rest of the state fear they will never be able to afford to buy their own house unless the market crashesLondon - where the average cost is approaching £300,000, according to Government figures - dominates the catalog of streets paved with bullion The most expensive place to live is Kensington Square, a beautiful four-sided figure with a large communal backyard The average value of a home on the square, which is regularly voted as one of the assets's most excellent addresses, is £5

5mThe Royal Borough of Kensington and Chelsea dominates the top 20, with 16 entries In November last year, it became the first borough in Britain where the standard asking price was above £1m A former cleaner's storeroom there was lately sold for £170,000 - despite being the dimension of a snooker table A spokesman for Mouseprice

com said: 'When it comes to the ownership of elite property, the regal Borough of Kensington and Chelsea is undoubtedly the area to be'The highest-placed road outside the capital is Portnall Rise in Virginia irrigate, Surrey, where the average home will set you back £ 34m - 17 era the national averageVirginia irrigate, supposedly named after the 'Virgin Queen' Elizabeth I, is enormously sought-after because it offers buyers the chance to live in the scenery but travel quickly into London

The upmarket estate agent Knight forthright has recently sold 13 properties in the area for between £1m and £8mIt is advertising a six-bedroom home on the road for £475m, or nearly £800,000 per bedroom But the £1m-plus houses are no longer restricted to the South as there are now dozens of streets in the North full with propertymaires

In the North-East, the first 'seven-figure street' is Gubeon Wood, close to Morpeth in Northumberland, which has an standard price of £11mThe cul-de-sac of nine very large detached houses is tucked away in the good-looking Northumbrian scenery minutes from the A1 One resident said: 'I've lived here 17 existence and I absolutely love it

It is peaceful Things have begun to alter in the last few years New houses have left up in place of what was there before For example, one property used to be a bungalow and now it is a three-storey building with pillars

'WAY OUT WEST: Cadbury Camp Lane close to Bristol has an average price of more than £1mSelwyn Lim, organization director of Mousepricecom, supposed: 'Between April 2000 and December 2006, properties in the North-East shot up 145%, the most increase in the country London and the South-East may be the house of nowadays's property millionaires, but it is homeowners in the North-East who are profiting'Cadbury Camp Lane in Somerset, which second-hand to be a summer retreat for wealthy families from nearby Bristol, is now anothermaire's Row

Behind the dense foliage and high fences of the three-mile path near the village of Clapton-in-Gordano lie luxurious six to eight-bedroom mansions and driveways full of Jaguars and Mercedes On the South shore, the most expensive street is Western Avenue in the exclusive Sandbanks region of Poole in Dorset, where the average house cost is £15mMouseprice

com based its figures on Land Registry data, which minutes the sale price, and attuned it to current valuesWith a communal garden as its centrepiece, Kensington four-sided figure is an oasis of calm in the frantic capitalBRITAIN'S MOST EXPENSIVE ROAD: Kensington Square is an oasis of calm in busy middle LondonIt is only a short saunter away from the shops and the tube position of Kensington High Street - but the tall houses chunk off most of the noise Its prime location and the Victorian house's person styles have pushed the average price of a house in the four-sided figure up to £5

5mThe list of former inhabitants reads like a Who's Who of London's far above the ground society in the 18th and 19th centuries Several of the square's most distinguished residents, including philosopher John Stuart Mill and artist Sir Edward Burne-Jones, are remembered by blue plaques'This is a wonderful place to live and we are so lucky to have neighbours who look out for each other,' said resident Alexandra Murphy

'It is mostly careful families who exist here - though there are some rich foreigners touching in The gardens are so well-kept and the four-sided figure is so beautiful Everyone would want to live here if they could'But one woman, who has lived in the four-sided figure for 55 years, is concerned about the rising house prices

almost immediately our children and grandchildren will never be able to afford to exist in London,' she said I actually hope that property prices collapse so that people can create to have enough money to buy houses again'© 2007 Associated Northcliffe Digital Ltd Terms Privacy policy promote with us LoansCardsMortgagesInsuranceCompare the best deals around with This is Money

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