Average property prices along the London Marathon route have shot up by almost £100,000 in a year, new figures show. Online estate agents HouseSimple.com said that prices had gone up by 15.6% in the past year to £712,416. The research comes as 38,000 runners prepare to pound the streets this Sunday in the 36th London […]
Average property prices along the London Marathon route have shot up by almost £100,000 in a year, new figures show.
Online estate agents HouseSimple.com said that prices had gone up by 15.6% in the past year to £712,416.
The research comes as 38,000 runners prepare to pound the streets this Sunday in the 36th London Marathon.
On average, a buyer with an 80% mortgage, would need to put down a deposit of £142,483, and a first-time buyer with a 10% deposit would need more than £70,000.
HouseSimple.com has analysed average property prices at each mile point along the London Marathon route and compared those prices to 12 months ago.
Prices range from £314,446 near the start at Woolwich to £2,478,034 at the finish line at St James’s.
And just as marathon runners hit the wall, house prices do at Blackfriars – just two miles from the finishing line – with growth of just 4.2% in the past 12 months, suggesting that the property market here might be starting to plateau.
Alex Gosling, CEO of online estate agents HouseSimple.com said: “As thousands of runners pound the streets of London this Sunday, many first-time buyers probably feel right now that it would be easier to run a marathon than it is trying to get onto the property ladder.
“This research does reveal the vast difference in property prices in the capital, even along the Marathon route. From Woolwich, where average prices are a little over £300,000, to St James, where prices are close to £2.5 million. These two areas might be separated by just 23 miles on the course, but they are different worlds where property prices are concerned.”
