Most expensive streets are in Kensington and Chelsea

The Vale in Kensington and Chelsea is the most expensive residential street in Britain with an average house price of £4,677,500, according to the Halifax.

Twenty five of the 50 most expensive residential streets in England and Wales are in Kensington and Chelsea - an area that been a fashionable place to live for several decades. However, the second most expensive street is Ingram Avenue in the North London borough of Barnet (with an average house price of £4,465,000).

Based on transactions between 2004 and 2008. Source: Land Registry.

Panorama Road in Poole is the most expensive street outside London with an average house price of £4,158,333; East Road in Weybridge in Surrey is the next most expensive street outside London (£2,805,000) followed by Kings Warren in Leatherhead in Surrey (£2,771,428).

Nine streets recorded average house prices of between £3 million and £4million in the period 2004-2008; of these five are in Kensington and Chelsea. The others are Chester Square (£3,841,666) and South Eaton Place (£3,553,333) both are in Westminster; Cedar Park Gardens (£3,609,285) in Merton and Stormont Road (£3,375,277) in Haringey.

Most expensive streets by region

Outside southern England, Congleton Road in Alderley Edge in Cheshire has the most expensive houses (£1,684,166); followed Kent Road in Harrogate (£1,173,373).

Six of the ten regions in England and Wales have streets with an average house price of over £1,000,000. This includes Runneymede Road in Newcastle upon Tyne in the North East (£1,135,625), as well as the other five already mentioned.

The remaining four regions where the most expensive streets are below the £1,000,000 barrier are the East Midlands, West Midlands, East Anglia and Wales

Martin Ellis, chief economist at Halifax, commented: "Chelsea and Kensington have some of the most expensive streets in England and Wales. The Royal Borough has been a highly fashionable area to live in since the Swinging Sixties. In recent years, its prime location in Central London has attracted affluent celebrities and ultra wealthy foreign businessmen helping to drive up house prices."