Homes located along the Thames riverbanks on the route of the BNY Mellon Boat Race have experienced significant price increases over the last year, according to analysis from London estate agents Marsh & Parsons.
Overall, the average price of riverside homes lining the route of the boat race currently stands at around £1.31 million with properties overlooking the famous Thames course typically attracting a price premium of up to 20 per cent at certain junctures.
Homes around Hammersmith Bridge have seen the biggest surge (5 per cent) in value over the past year of all properties overlooking the route of the race, to take place on Saturday (11 April).
Homes lining the Surrey riverbanks of the course are now worth £1.55 million on average. North of the river, the average property price along the famous route currently stands at £1.23 million, following a strong 4 per cent increase over the last twelve months – compared to 2.7 per cent annual growth south of the Thames.
At the start of the boat race, riverside house prices in Putney have climbed 3.2 per cent in value over the last year. As the route moves past Bishop’s Park, house price growth slows to a calmer 1.6 per cent year-on-year, and nearby Fulham has witnessed a stronger 2.2 per cent uplift, and has the lowest average home values along course. Price growth picks up on the home stretch river race, with property values in Barnes boosted 2.2 per cent in the past year, and Mortlake’s average house prices up 2.7 per cent since April 2014.
Peter Rollings, CEO of Marsh & Parsons, commented:
“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.”
