A SOUTH Essex road has been named among the streets with the most expensive property price tags this year so far.

Nestled near Buckingham Palace and the Houses of Parliament, Buckingham Gate in Westminster was found by Rightmove to have the highest average price being asked by home-sellers so far this year, at £9,633,333.

The streets with the highest average asking prices this year so far, according to Rightmove, are all in London.

However, outside of London, two Essex streets had the highest average asking price for properties.

This includes Norsey Road, in Billericay, which had the fifth highest average asking price at £1,800,000.

Looking at homes to rent, the highest typical asking rents were also all found in London, with Albion Street in Bayswater, central London, topping the list at £20,857 per month.

Outside London, Rightmove found the second highest average asking rent was in Manor Road in Chigwell, at £4,311. Ingrave Road, in Brentwood, had average asking rents of £2,898.

Here are the streets with the highest property price tags in 2024 so far outside London, according to Rightmove:

  1. Old Avenue, Weybridge, Surrey, £2,633,333
  2. The Ridgeway, Cuffley, Potters Bar, Hertfordshire, £2,289,286
  3. Manor Road, Chigwell, £2,219,444
  4. Swithland Lane, Rothley, Leicester, £2,024,000
  5. Norsey Road, Billericay, Essex, £1,800,000

Here are the streets with the most expensive monthly rents on average in 2024 so far outside London, according to Rightmove:

  1. London Road, Ascot, Berkshire, £6,831
  2. Manor Road, Chigwell, £4,311
  3. Deansgate, Manchester, £3,766
  4. Holloway Drive, Virginia Water, Surrey, £2,986
  5. Ingrave Road, Brentwood, £2,898

Tim Bannister, a property expert at Rightmove, said: “London’s status as the hub of luxury property in the UK remains unchallenged, with Buckingham Gate in Westminster commanding the highest average asking price.

“Although the possibility of buying one of these homes is limited to a very lucky few, there’s clearly a fascination with these prestigious homes as we find they’re often among our most viewed properties on Rightmove.”

Rightmove’s research was based on streets where there have been at least five properties for sale and rent this year, and so not all streets have been included.

The findings were released as separate research indicated that one in five aspiring first-time buyers do not think they will be in a position to make a purchase until they are at least in their 40s.

The survey, from Nationwide Building Society, found that nearly half - 48 per cent - of people looking to get on the property ladder believe their prospects of owning a home are further away than ever due to the cost-of-living crisis.

When asked about the biggest barriers to getting that first home, nearly a third - 31 per cent - highlighted saving for a deposit, while 44 per cent pointed to issues with affordability.

A fifth said finding somewhere in their price range is an issue, 14 per cent highlighted being able to afford the monthly repayments, and one in ten pointed to the ability to borrow enough for the mortgage.

Nationwide’s research was carried out by Censuswide in March among more than 1,000 people looking to get on the property ladder in the next five years.