Campden Hill Square in the heart of London's Holland Park, which was last year's most expensive street, was pushed into third place this year, with an average price of £4.9 million.
Commenting on the dominance of Kensington and Chelsea in the list, Nitesh Patel, Lloyds TSB's economist said:
"In recent years, its prime location in central London and classical architecture has attracted affluent celebrities and ultra wealthy foreign businessmen, helping to drive up property prices.
"Across most regions, the most expensive streets are typically tightly clustered."
The study used Land Registry records of sales which took place between January 2007 and September this year.