Kensington and Chelsea contain 'the UK's most expensive streets'

Half of the 50 most expensive streets in Britain are located in Kensington and Chelsea, it has emerged.

Any self builders looking to pick up a cheap plot for peanuts are unlikely to find one on The Vale in Kensington and Chelsea - which is the most expensive residential street in Britain with an average price of £4,677,500, according to Halifax.

Martin Ellis, chief economist at Halifax, commented: "In recent years, its prime location in Central London has attracted affluent celebrities and ultra wealthy foreign businessmen helping to drive up house prices."

Outside of southern England, Alderley Edge's Congleton Road has the most expensive houses.

Last week, Chris Martin, an architect at theHousePlanner suggested that the self build sector and people looking to renovate homes could benefit from the housing slump as architects and builders are likely to price jobs more keenly.

Furthermore, the downturn in the number of orders could result in jobs been completed quicker.