Friday 30 September 2016 9:31 am

Britain’s most expensive streets revealed: Zoopla unveils rich list of top 10 priciest neighbourhoods in London

The UK's top 10 most expensive neighbourhoods are all still in London and they're all still eye-poppingly pricey – but they are getting cheaper. Well, some of them.

Top of Zoopla's property rich list is Kensington Palace Gardens, W8, where the average property will set you back £38.3m, followed by The Boltons in SW10, where a house costs around £33.3m, and Grosvenor Crescent, SW1X, where you'd pay £21.6m for a home.

Rank	Street name	Average property value
1	Kensington Palace Gardens, W8	£38,266,143
2	The Boltons, SW10	£33,314,108
3	Grosvenor Crescent, SW1X	£21,635,151
4	Courtenay Avenue, N6	£19,000,018
5	Manresa Road, SW3	£13,281,914
6	Compton Avenue, N6	£13,212,238
7	Frognal Way, NW3	£12,797,040
8	Ilchester Place, W14	£12,774,204
9	Cottesmore Gardens, W8	£10,816,448
10	Chester Square, SW1W	£10,635,410

And the top 10 most expensive postcodes in Britain are all in the capital too. Knightsbridge, SW7, is in the top spot, closely followed by Kensington, W8, and Chelsea, SW3.

Rank	Outcode	Average property value
1	SW7 (Knightsbridge)	£2,715,273
2	W8 (Kensington)	£2,706,626
3	SW3 (Chelsea)	£2,530,643
4	W11 (Notting Hill)	£1,858,258
5	SW1 (Westminster)	£1,759,788
6	W1 (West End)	£1,719,589
7	SW10 (West Brompton)	£1,619,148
8	NW3 (Hampstead)	£1,543,919
9	SW13 (Barnes)	£1,537,919
10	NW8 (St John’s Wood)	£1,478,024

However, despite their expensive price tags, Zoopla revealed today that three of the top 10 costliest neighbourhoods in west London have dropped in value over the past 12 months. Kensington, W8, Notting Hill, W11 and the West End, W1 have fallen by 4.22 per cent, 5.22 per cent and 3.52 per cent respectively. This compares to a 1.73 per cent increase on the average property price in Britain over the same period.

This follows data from Knight Frank earlier this month which revealed that house prices in Chelsea dropped by 8.9 per cent year-on-year in August.

Nationwide, the number of streets in Britain where the average property value is over £1m currently stands at 12,418. With property prices continuing to rise since the start of the year, 40,885 new property millionaires have been created since January, which takes the total to 660,924. Of these new property millionaires, 44 per cent of them (17,975) are located in London, with 12 per cent of the capital’s homeowners now falling into the category of property millionaires.

“While Kensington Palace Gardens continues to hold the top spot in the Rich List, it’s interesting to see some property values in the most expensive neighbourhoods decreasing over the past 12 months," said Zoopla spokesperson Lawrence Hall.

"Whilst London will always attract buyers for trophy homes from across the globe, those looking for million pound plus homes should also consider areas outside the capital that make the list such as Guildford, Sevenoaks or Esher, where they will get more bang for their buck."