The average house in Phillimore Gardens will set buyers back £23.8m, more than 80 times the national average property price, according to research by the bank.

The street was built on the Phillimore Estate, on land acquired by the Phillimore family in the early eighteenth century. Phillimore Gardens runs roughly north to south from Duchess of Bedford’s Walk to Kensington High Street and is close to Holland Park.

The second most expensive street to live is Grosvenor Square in Mayfair, with an average price tag of £23.5m. Illchester Place is in third place, with properties costing an average of £17.7m.

London streets dominate the list of the UK’s most expensive streets, with only one road outside the capital making the top 20 – Titlarks Hill in Ascot, which is in 12^th place with properties costing an average of £12.3m.

Halifax compiled the list using data from the Land Registry and Royal Mail collected between January 2017 and September 2022

Outside the capital, wealthier buyers looking for an exclusive postcode in the North East or the East Midlands would need around £1.5m – the lowest ‘most expensive’ regions in the country.

Benar Headland in Pwllheli is the most expensive street in Wales with an average price of £1.7m, followed by Llys Helyg Drive in Llandudno (£1.2m) and Hanley Cwrt in Usk (£1.15m). In the Welsh capital of Cardiff, the most expensive street is Westbourne Crescent (£1m).

Kim Kinnaird, mortgages director at Halifax, said: “For almost all of us, these homes and their eye-watering price tags are the stuff fantasy house hunts are made of.

“Unsurprisingly, London roads occupy the top 10 streets in the UK, and buying a home on London’s Phillimore Gardens could set you back a staggering £24m on average. That said, the price of a prestigious address can differ hugely across the UK. Living on the most expensive street in the north east or east midlands will cost something closer to £1.5m.”