Hammersmith property values race ahead
Homes around Hammersmith Bridge have seen the biggest surge in value over the past year of all properties overlooking the route of the annual Boat Race according to analysis from London estate agents Marsh & Parsons.
Homes lining the Surrey riverbanks of the course are now worth £1.55m on average but it is properties overlooking the route on the Middlesex side of the Thames that have experienced the fastest house price growth since the crowds last turned out to watch the Oxford and Cambridge rowing crews battle it out.
North of the river, the average property price along the famous route currently stands at £1.23m, following a strong 4% rise over the past twelve months – compared to 2.7% annual growth south of the Thames.
And in the overall house price growth race along this 6.8km stretch of the Thames, Hammersmith Bridge is the fastest stretch of the river, with house prices rising nearly 5% in the past twelve months.
Around the next bend, just a length behind Hammersmith, Chiswick has witnessed the second sharpest increase, with property prices up 4.4% year-on-year.
Peter Rollings, CEO of Marsh & Parsons, said: “As a sporting phenomenon attracting spectators from all over the globe, the Boat Race shines a spotlight on this leafy stretch of the Thames every year, but these famous riverbanks also attract buyers day-in-day-out with waterside walks, bustling boutique high streets and a great selection of pubs to socialise in.
“As a result, house price growth among these waterfront properties is swimming along steadily, and it shouldn’t be forgotten that this is on top of a much higher base than adjacent streets, as waterfront buyers also have to dig a little deeper into their pockets to snap up their vista of the Thames.”