Hammersmith Bridge wins the property Boat Race
Homes around Hammersmith Bridge have seen the most significant increase in value over the past year of all properties overlooking the route of Saturday’s annual Boat Race, according to data from London estate agent 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 last year's race between Oxford and Cambridge. North of the river, the average property price along the route stands at £1.23m, following a strong 4% rise over the last twelve months – compared to 2.7% annual growth south of the Thames.
In the overall house price growth race, Hammersmith Bridge is the fastest stretch of the river, with house prices rising nearly 5% in the past twelve months. On the approach to this iconic landmark, several new housing developments around Fulham Reach are boosting the desirability of the area among both young professionals and investors, driving the highest rises witnessed along the course.
Mortlake tops the price chart
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. This is where you will also find the priciest street on the Middlesex side of the river, with average house prices on exclusive Chiswick Mall – directly overlooking the Chiswick Eyot – currently standing at £3.4m.
But as the two crews approach the Chiswick Bridge finishing line, they will pass the most expensive riverside properties along the course – with homes on Mortlake’s leafy Thames Bank overlooking the final leg of the race worth more than £4.5m on average.
At the start of the race, riverside house prices in Putney have climbed 3.2% in value over the last year. As the route moves past Bishop’s Park, house price growth slows to a calmer 1.6% year-on-year, and nearby Fulham has witnessed a stronger 2.2% 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% in the past year, and Mortlake’s average house prices up 2.7% since April 2014.
Overall, the average price of riverside homes lining the route of the Boat Race currently stands at £1,311,354, with properties overlooking the famous Thames course typically attracting a price premium of up to 20% at certain junctures.