A scheme of six luxurious properties have come on the market, distinctive because they are located across the road from the grounds of Buckingham Palace.

But that's not the only eye-catching thing about the scheme, known as The Buckingham: one of the three bedroom properties is going on the market for £18 million.

The least costly option is a two bedroom apartment – on sale for £4.35m.

This most expensive option, however, is a penthouse with two private terraces and underground parking – alongside three bedrooms.

The homes, fronted by a five-story Grade II listed Italianate facade, were built between 1859 and 1861, just a decade after the famous East front of Buckingham Palace – famed for its balcony – was completed.

The eye-watering price tags above make dramatic comparison with average UK house prices, which in March of this year stood at just under £220,000, according to Halifax.

The average UK house price is now £3,000 lower than it was at its peak in December 2016.

The Guardian reported Halifax housing economist Martin Ellis as saying: “Housing demand appears to have been curbed in recent months due to a deterioration in housing affordability driven by the sustained period of rapid house price growth during 2014-16. Signs of a decline in the pace of job creation, and the beginnings of a squeeze on households’ finances as a result of increasing inflation, may also be constraining the demand for homes.”

While living next to the Queen may appeal to some, the above data underlines the challenges faced by most UK citizens who wish to get on the property ladder.