A research carried out by Halifax to record the house prices across Britain has revealed that homes which are built on the most expensive street in Southern England carry a price tag which is about over 4 times more expensive than those situated on the most expensive street up North.

Wycombe Square in the London borough of Kensington and Chelsea boasts residential properties which carry an average cost of 5.4 Million Pounds, which makes it the most expensive place to live in across England and Wales.

Mortgage lender Halifax's latest report lists 20 most expensive streets to live on in the aforementioned two countries, based on sales which were closed between 2005 and 2009. About 50% of the costly properties are in the borough and all of the 10 most expensive houses are in Greater London.

"Kensington and Chelsea have long had a global appeal, but the fall in the value of sterling has helped to attract foreign buyers over the past year despite the worldwide economic recession. Across most regions, the survey shows that the most expensive streets are tightly clustered within the same area", said Halifax's housing economist, Nitesh Patel.

While Moles Hill in Leatherhead, Surrey, is the most costly street outside the capital, in Wales, Druidstone Road has been designated the most expensive.