The World’s Most Expensive Streets Are In London

May 28, 2010 - PRLog -- According to the Daily Mail, the housing prices in the UK have remained to be highly competitive, with over 2,000 streets in the country fetching an average price of £1 million or more, despite pressures on the economy.

The average price of a house now stands at £1 million or more represents a six-fold increase in just a decade. Over 70 per cent of these properties are located in London, simply because the housing prices in the capital have stood high for many years.

Just 577 locations fall outside London, albeit they are also located near the capital, in places such as Guildford, Leatherhead and Richmond.

The most expensive street across Britain is found to be Kensington Palace Gardens, situated in the Borough of Kensington and Chelsea. Nicknamed ‘Millionaire’s Row’ previously, it has now to be renamed ‘Billionaire’s Row’ given the soaring prices. The average housing price on this street is at £18 million.

Home to many embassies and Britain’s richest steel tycoon, Lakshmi Mittal, the location is worth the combined value of over a hundred average properties altogether.

The housing prices in Oxfordshire have also increased by 10.3 per cent as compared to last year, averaging at a price of £300,000.

The south, including Surrey and Hertfordshire, is also considerably expensive as they are popular for young families and commuters.

The more expensive a buy-to-let property is, the more the homebuyers are inclined to invest in its décor and furnishings, whether the property is for self-use or to be let out for rental income.

In order to mitigate the risks of problematic tenants, legal disputes, accidental or malicious damages to the homes, investors, especially buy-to-let homeowners, are increasingly turning to landlord insurance as a means to offer them the protection.

Click on http://www.justlandlords.co.uk/ for more details.