The London brandmarks the place home costs command a 222% premium

The newest analysis from London’s largest lettings and gross sales property agent, Foxtons, has revealed that in terms of property values surrounding London’s well-known brandmarks, the Royal Albert Corridor tops the desk with the best common home value, nonetheless, it’s the Tower of London that instructions the best home value premiums when in comparison with the broader borough.

Foxtons analysed present home costs in postcodes boasting 20 of the capital’s most well-known brandmarks*, from the Cutty Sark to St Paul’s Cathedral, earlier than taking a look at how the price of dwelling shut to those brandmarks compares to the broader boroughs through which they’re situated.*

Foxtons is London’s #1 property company model, each by way of market share and development of latest directions*. Foxtons’ property specialists have an unrivalled data of the capital’s property market, understanding how the worth of a house differs from one postcode to the subsequent, in addition to the options that make every postcode fascinating to potential patrons.

The analysis exhibits that in terms of probably the most prestigious London brandmark from a property worth perspective, it’s the Royal Albert Corridor that sits prime. The SW7 postcode, dwelling to the Albert Corridor, can be presently dwelling to a mean home value of £1.8m.

The celebrated Park Lane sits second with the typical property within the W1K postcode commanding £1.7m, whereas Westminster Abbey (£1.67m), Regent Road (£1.62m) and Piccadilly Circus (£1.62m) additionally rank inside the prime 5 most costly London brandmarks the place property costs are involved.

Nevertheless, in terms of the brandmark the place property values command the biggest premium, the Tower of London tops the desk. With a mean home value of £1.53m throughout the EC2N postcode, home costs surrounding the Tower of London are available some 222% greater than the broader borough of Tower Hamlets.

The SE19 postcode, dwelling to The Shard and Shakespeare’s Globe Theatre, boasts a mean home value some 177% greater than the broader borough of Southwark.

The Royal Albert Corridor does rank third on this respect, with home costs within the SW7 postcode some 93% greater than the broader borough of Westminster, whereas property values surrounding the London Eye and Park Lane additionally command hefty premiums versus their wider boroughs at 81% and 77% respectively.

Foxtons CEO, Man Gittins, stated, “For many, wanted facilities embrace a mixture of commutable transport hyperlinks, close by supermarkets, or nice instructional establishments. Nevertheless, for these buying on the very prime finish of the London market, dwelling inside shut proximity of a well-known London brandmark will also be an enormous promoting level in itself.

London dwelling is as a lot about life-style as it’s the property you buy and so for many, a house inside a stone’s throw of such iconic places as St Paul’s, Buckingham Palace, Piccadilly Circus or Park Lane is a should.

After all, such properties don’t come low cost and never solely will they price you a substantial quantity, they’re additionally more likely to command a hefty premium when in comparison with the broader boroughs through which they’re situated.”