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Property prices along the Virgin London Marathon route

Marathon compHard work, sweat, maybe some tears; these are the things that come to mind when you think of a marathon, in this case the Virgin London Marathon, which takes place on April 24th. One thing participants are probably not thinking about, however, is the value of the properties in the areas they’re running in.

We thought we would investigate a little further, detailing the cost of the areas along the route, from the more affordable areas to the most expensive mile.

Woolwich

Woolwich is situated right at the beginning of the marathon starting point. It also happens to be one of the cheaper stretches along the route, with average prices costing £269,000 for flats and £350,000 for houses. We don’t imagine it will stay that way for long, especially with the introduction of developments such as Royal Arsenal Heights, a brand new residential development with a concierge and residents’ gym. This two bedroom apartment is on the rental market for £500 per week and benefits from direct river views. Woolwich’s DLR and National rail stations means residents can be in the City or Canary Wharf in just 20 minutes.

For more information on Royal Arsenal Heights and other Woolwich properties, contact our Surrey Quays branch for more information.

Greenwich

New Captial Quay development
New Capital Quay development, SE10

Greenwich is another area at the early stages of the marathon route that also just happens to be one of the most popular places to live in South-East London, thanks to plenty of open spaces, excellent travel links and local attractions, being  named a Royal Borough in 2012.

House prices have risen steadily in Greenwich over the last few years; the average price is now £513,132, a five percent rise on previous years. Renting in the area is also on the increase,  especially with professionals working in Canary Wharf and the City who want a quiet place to relax at the weekends. One and two bedroom apartments rent for prices between £345 and £420 per week. New Capital Quay is one of the most sought-after developments in Greenwich, offering contemporary apartments from £330 per week.

If you’re interested in property to rent in Greenwich or its environs, please contact our Greenwich branch.

Canada Water

Canada Water has seen a recent increase in popularity, with residents enjoying  the slightly cheaper housing this South East London area offers compared to its Docklands counterparts. With a tube station on the Jubilee Line, residents can be in the heart of the West End in just over 10 minutes or in Canary Wharf in five minutes. Average prices are around £480,000.

Just 10 minutes from Canada Water Tube station you’ll find the Marine Wharf development in Surrey Quays, where a one bedroom apartment costs around £425,000 to buy, with rentals starting from £300 per week.

To view a selection of properties at the Marine Wharf development, visit our listings page or contact our Surrey Quays branch.

Canary Wharf

Pan Peninsula development
Pan Peninsula development, E14

Around the 20-mile mark, participants will enter the thriving business area of Canary Wharf, which has evolved so much over the last 10 years, offering modern residential developments and stylish shopping centres appealing to a far broader range than those who just want to be close to their work.

The overall average house price in Canary Wharf is now just less than £500,000, up seven percent on previous years. Average rental prices range from £390 for one bedroom properties to £900 per week for three bedroom apartments, depending on the quality of development. Popular developments such as Pan Peninsula and The Landmark  start from £350 and £375 per week respectively.

If you like the look of The Landmark and Pan Peninsula, or would like to know more about Canary Wharf properties, get in touch with us or visit our Canary Wharf listings page.

Whitechapel

Whitechapel enjoys a positon adjacent to the City and the Docklands, which makes it a key area for the participants as they cross the river and head towards the final stretch at SW1. Over the years, Whitechapel has become a sought-after area thanks to its location on the City borders. Average apartment prices command just over £500,000 while a terraced house will set you back £1.3 million.

The recent construction of high-end developments such as  Goodman’s Fields and Cityscape have increased rental demand in and around Whitechapel, with tenants benefiting from the hotel-style services on offer, including luxury fitness centres and private cinema rooms. Rentals start from £400 per week at both developments.

For more information on properties in Whitechapel and the City, contact our City branch.

St James’s

5 Courthouse, Horseferry Road SW1P 2DU - ExteriorB - 24.06.2014
The Courthouse development, SW1

Not surprisingly, the most expensive mile along the route is in St James’s, SW1 which also happens to be the final mile in the marathon. House prices average £1.1 million, with rental prices averaging just over£900 per week. What will you get for that kind of money? As well as lots of famous attractions such as The Mall and   St James’s Park, you will also be able to call the Queen your neighbour. Just don’t expect an invitation for afternoon tea in the near future.

This impressive three bedroom property at the Courthouse development is on the market for £1,325 per week. The apartment’s location means marathon participants wouldn’t have far to travel to relax after having completed such an intense run.

For more information on properties in St James’s, contact our Knightsbridge branch.

 

It’s almost over, it is now.

We have to commend the participants taking part in the Virgin London Marathon. Not only are they raising money for great causes in a long, hard 26-mile run, but they’re taking part in one of London’s great traditions. If you would like to experience London life yourself in  one of the properties along the route, contact us and one of our negotiators will be happy to assist you.

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About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents.  With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 19 prominently located branches and 8 international offices.

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