Stunning city street tops Wales’ list for highest average price tag
CATHEDRAL Road in Cardiff has topped the list of the streets in Wales with the most expensive property price tags this year so far.
Leading from Llandaff Fields to the city centre, the key thoroughfare, which runs through Pontcanna, was found by Rightmove to have the highest average price being asked by home-sellers so far this year, at £442,500.
The next two places where homesellers’ price tags were highest on average this year in Wales were Christchurch Road in Newport, with an average sale price of £346,875, followed by Inverness Place, Roath, Cardiff, at £328,571.
But the figures for Wales were dwarfed by those for London – with Buckingham Gate in central London – near Buckingham Palace and the
Houses of Parliament – topping the list with an eye-watering average of £9,633,333.
Outside London, Old Avenue in Weybridge, Surrey, had the highest average asking price for properties in 2024 so far, at £2,633,333, the property
website found.
After Buckingham Gate, the nexthighest average asking price was found in Vicarage Gate in Holland Park, west London, at £6,332,000.
Rightmove said sales searches for London boroughs including Mayfair,
St John’s Wood and Holland Park have increased this year, compared with a year ago.
Looking at homes to rent, the highest typical asking rents were found in Albion Street in Bayswater, central London, at £20,857 per month. This was followed by Pavilion Road in Knightsbridge, central London, where renters will need an average of £15,251 per month for a new let.
Outside London, Rightmove found the highest average asking rent was in London Road in Ascot, Berkshire, at £6,831 per month. Manor Road in Chigwell, Essex, had average asking rents of £4,311.
Meanwhile, renters looking for properties in Manchester’s vibrant city centre face average monthly rents of £3,766 in Deansgate, the research indicates.
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.”
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 (20%) aspiring first-time buyers do not think they will be in a position to make a purchase until they are at least in their forties.
The survey, from Nationwide Building Society, found that nearly half (48%) of people looking to get on the property ladder believe their prospects of owning a home are further away than ever due to the costof-living crisis.