Luxury addresses escape property downturn
The value of super prime property in some areas of the UK remains immune to the financial crisis which has wiped 14% off high-end houses in London over the last year.
Millionaires looking for their dream home will pay staggering amounts to have a view of the seafront or to share their local pub with premiership footballers, according to The Times Online, which has compiled a list of the 10 most expensive roads in the England and Wales.
The costliest address was The Vale in Kensington and Chelsea, which boasts an average price of £4.7m (€5.2m) per property.
Generally property is having a torrid time. Prices in London are now 14.1% lower than last year, and have fallen by a total of 9.3% over the last three months alone, according to the Knight Frank Prime Central London Index.
To read the full story go to: http://timesbusiness.typepad.com/money_weblog/2008/12/the-10-most-exp.html
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