Borough of Kensington and Chelsea 'Has Most Expensive Residential Areas' [PHOTOS]

The borough of Kensington and Chelsea has some of the most expensive residential areas in London, according to a new report.

Lloyds TSB has released the survey of house prices across the UK in which six locations of the borough made it into the list of top ten most expensive areas.

Campden Hill Square, in Kensington and Chelsea, is the most expensive street in the UK where the average cost of a house is almost £5 million.

The other expensive streets from the borough are Drayton Gardens (placed at number 3; price of average residential property £4.4 million), Dawson Place (no.4; £3.89 m), Duchess of Bedford's Walk (no.5; £3.86 million), Cadogan Square (no. 6; £3.7 million) andBramerton Street (no.9 and £3.52 million).

Parkside Merton in south-west London is the second most expensive location in the UK (where the average price of property is £4.8 million). At number seven and eight are Hamilton Terrace in Westminster (£3.62 million) and Cedar Park Gardens in Merton London (£3.6 million), respectively. Hampstead Lane in north-west London is the tenth most expensive street with property price averaging £3.5 million.

"The largest concentration of expensive properties is in Kensington and Chelsea," the Telegraph has quoted Lloyds TSB economist Suren Thiru as saying.

Thiru has added: "This part of London has always had a glamorous reputation, attracting buyers from the business and entertainment world, and more recently the super-rich from across the world.

"The area clearly has its attractions with excellent schools, upmarket shops, proximity to the capital's business district and impressive properties.

"Other areas in the capital have similar qualities but property prices in Kensington and Chelsea tend to outperform the rest of London."