Revealed: the UK's most profitable addresses

How some homeowners have made millions

Updated: 
Ilchester Place

Bet you wish you'd bought a house in Ilchester Place in 1998 - it could have been earning you £132 an hour ever since.

An analysis of Land Registry figures by the Sunday Times has revealed that the owners of one house in the Holland Park street bought it for £870,000 16 years ago - and sold it last year for £18.7 million.

The eight-bedroom house tops the list of the most profitable properties sold over the last 20 years - although many of its neighbours have been almost as good earners, netting their owners millions of pounds.

"Ilchester place has been one of the top London addresses for the past 30 years. Its three-storey townhouses, which critically are close to Holland Park, have become increasingly sought after by a group of ultra-wealthy UK and international buyers," Jonathan Hewlett, head of central London residential sales at Savills estate agency told the Sunday Times.

"Those buyers have often extended the properties on Ilchester Place have added or are in the process of building basement accommodation."

Elsewhere in the country, lucky owners have also made a pile. In Oxford's Charlbury Road, for example, a house bought for £4,130,000 in 2011 sold three years later for nearly six million more. A house in Birmingham's Woodbourne Road, meanwhile, a house bought for £1,145,000 in 2006 was sold for more than three times as much in 2011.

Many people find the TV series Shameless funny, but for the residents of Manchester's Chatsworth Road it must be more amusing than most. While the programme's Chatsworth Estate is probably one of the least desirable addresses imaginable, its real-life near-namesake is anything but. One house in the street was bought in 1997 for £345,000 - and sold just ten years later for £2,225,000.

Are rises levelling off?
But these huge profits may not continue. According to estate agent Savills, house price rises have exceeded all expectations over the last year. The company expects it to settle at 9.5% this year - and fall to 4% next year.

"House price growth in the mainstream market has been underpinned by record low interest rates, rising loan-to-income lending and pent up demand from buyers re-entering the market as the economy and consumer sentiment have improved," says Lucian Cook, Savills UK head of residential research.

"But these extraordinary rates of house price growth cannot continue in the current, more regulated mortgage environment, particularly in the face of likely interest rate rises."

How prices have risen since 1995: UK cities' most profitable streets

Llandennis Road, Cardiff: £0.9 million
Withdean Road, Brighton: £1.5 million
Harris Lane, Bristol: £1.7 million
Runnymede Road, Newcastle: £2 million
Woodbourne Eoad, Birmingham: £2.3 million
Chatsworth Road, Manchester: £2.2 million
Shireburn Road, Liverpool: £2.1 million
Charlbury Road, Oxford: £5.4 million
Ilchester Place, London: £17.7 million

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