Homes in Barnes, which lines an idyllic stretch of the annual boat race route, cost an average of £1.4 million – making it the most expensive location that the rowers pass through. Just a couple of miles away, Putney has the least expensive property on the route, where the average cost of a home is £769,500 – close to half that of neighbouring Barnes.
According to Marsh & Parsons, the appeal of Barnes comes from its rural and village-like feel, while still having easy access to central London, just a 15 minute journey away. There are numerous attractive properties, and a village green that creates a sense of community that can be lacking in London. A good selection of independent shops, restaurants and a Saturday farmers market all add to its charm, and make Barnes particularly appealing to second or third steppers.
As the crews approach the finish line, they pass leafy Mortlake: the area which, together with Barnes, experienced the greatest annual growth (0.42%).
Overall, the average price of a property along the route of the boat race is currently £1.03m; 70% more than the average London price of £604,825 highlighting the premium for living near to the river and its luscious surroundings.
Properties along the south stretch of the river lining the boat race fetch a higher average price of £1.08 million, compared to £997,025 on the stretch north of the river.
David Brown, CEO of Marsh & Parsons comments: “While the boat race is an annual fixture in London’s calendar, living close to the river comes with year-round appeal that buyers are clearly willing to pay for. With fantastic transport links across this stretch of west London, its proximity to the river and easy access to great parks, it is little wonder that houses along the boat race route command a premium. Fantastic homes for families, young professionals and investors are springing up throughout these neighbourhoods and continue to attract a lot of interest, particularly among those who want a change from the hustle and bustle of Prime Central London.”
Sam Bide, Sales Director of Marsh & Parsons’ Barnes office, added: “Living in a world-class location can come with a higher price tag, especially when a riverside view is involved. In Barnes, the majority of properties on our books are houses, so flats can also command a premium. Harrods Village and Barnes Waterside, in particular, are very desirable and come with the added appeal of superb bars and restaurants nearby. Due the popularity of the area among families, or those looking for the feel of country-living but with close proximity to central London, sellers can typically expect to receive an offer in the first four to six weeks when priced well.”
