Lloyds Bank

Lloyds Bank

January 06, 2014 07:38 ET

Most Expensive Streets in the Midlands Split Evenly Between East and West

LONDON, ENGLAND--(Marketwired - Jan. 6, 2014) - The Ridgeway in Leicester is the most expensive street in the Midlands1 with an average house price of £1,671,0002. There are three other streets in the region where the property value is in excess of £1m; these include Blue Lake Road in Solihull (£1,039,000), Church Road in village of Broadway in Worcestershire (£1,038,000) and Croft Road in Nottingham (£1,001,000).

Nitesh Patel, housing economist at Lloyds Bank, comments:
"Unsurprisingly, the most expensive residential streets in England and Wales are in London, but Leicester's The Ridgeway takes the title in the Midlands. Unlike in other parts of the country the 10 most expensive addresses in the region are widely spread around the region."

Table 1: 10 Most Expensive Streets in the Midlands

Street Name Area Postcode Average House Price
£ - 2008/2012
The Ridgeway Leicester LE7 £1,671,000
Blue Lake Road Solihull B93 £1,039,000
Church Street Broadway WR12 £1,038,000
Croft Road Nottingham NG12 £1,001,000
Quarry Park Road Stourbridge DY8 £921,000
Alderbrook Road Solihull B91 £893,000
Little Aston Park Road Sutton Coldfield B74 £880,000
Springfield Lane Broadway WR12 £833,000
Valley Road Nottingham NG2 £815,000
Weston Road Oakham LE15 £813,000

Source: Land Registry and Royal Mail

Editors' Notes

Nitesh Patel, economist at Lloyds Bank, available for comment on 23, 24 and 27 December 2013.

1 Covers both East Midlands and West Midlands

2All prices are based on transactions between January 2008 and October 2013 recorded on the Land Registry database for transactions in England and Wales.

The data in this report are compiled from over 1.78 million UK post codes supplied by the Royal Mail in conjunction with the Land Registry database of housing transactions and prices.

House prices shown in the tables are arithmetic average prices of house transactions between January 2008 and October 2013. The transactions data is sourced from the Land Registry, and individual post codes (and not street name, as there can be several occurrences with same name) from the Royal Mail. Only post codes/streets where there have been at least seven transactions over the period are included.

"This report is prepared from information that we believe is collated with care, however, it is only intended to highlight issues and it is not intended to be comprehensive. We reserve the right to vary our methodology and to edit or discontinue/withdraw this, or any other report. Any use of this report for an individual's own or third party commercial purposes is done entirely at the risk of the person making such use and solely the responsibility of the person or persons making such reliance."

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