{"id":1399,"date":"2023-08-08T09:21:29","date_gmt":"2023-08-08T08:21:29","guid":{"rendered":"https:\/\/www.benhams.com\/press-release\/?p=1399"},"modified":"2025-01-22T07:07:21","modified_gmt":"2025-01-22T07:07:21","slug":"london-homebuyers-faced-with-one-hundred-forty-percent-price-premium-for-a-room-with-a-view","status":"publish","type":"post","link":"https:\/\/www.benhams.com\/press-release\/london-property-market\/london-homebuyers-faced-with-one-hundred-forty-percent-price-premium-for-a-room-with-a-view\/","title":{"rendered":"London homebuyers faced with 140% price premium for a room with a view"},"content":{"rendered":"

\"LondonThe latest research by London lettings and estate agent, Benham and Reeves, reveals that homebuyers who want a room with a view in London are facing house price premium of up to 140%.<\/p>\n

Benham and Reeves has analysed asking prices for London properties listed with the allure of a \u2018good view\u2019 to see how they compare to the wider price of purchasing a property across the capital. A \u2018good view\u2019 might entail cityscapes, riversides or, in more suburban boroughs, green space. <\/p>\n

The data shows that a property listed with a good view in London costs, on average, just over \u00a31 million. This is 93% more than the overall average London house price of \u00a3525,629. <\/p>\n

The largest premium for a room with a view is found in the borough of Lambeth. Here, the average asking price is \u00a3545,537, while the average for a good view is a breathtaking 137% more at \u00a31.3 million. <\/p>\n

Merton, in the city\u2019s South West, carries an average price of \u00a3564,071, but buyers who want a good view can expect to pay a premium of 120% to secure such a property.<\/p>\n

London\u2019s room with a view house price premium good also tops 100% in Kensington & Chelsea (109%), Lewisham (108%), and Enfield (105%). <\/p>\n

For buyers already trying to navigate a pricey London market and unusually expensive mortgages, such extraordinary premiums are likely out of reach. But there are a number of boroughs where a good view is much more affordable. <\/p>\n

In the North West London borough of Harrow, the average home costs \u00a3512,866 while the average for a good view is \u00a3602,080; a premium of just 17%. <\/p>\n

In Brent, a good view will cost an additional 25%, and in Ealing it\u2019s an additional 26%. <\/p>\n

The good view premium also comes in under 50% in Waltham Forest (31%), Barnet (35%), Bromley (38%), and Newham (48%). <\/p>\n

Director of Benham and Reeves, Marc von Grundherr, commented:<\/strong><\/p>\n

\u201cThe best views that London has to offer are going to cost you a lot of money. It\u2019s a case of supply and demand. In a largely flat city which is densely populated with buildings, truly majestic views are relatively few and far between.<\/p>\n

That\u2019s why any homeowners who are sitting on a great view can always be confident that their property will achieve a hefty price premium even in a cooling housing market. A room with a view is akin to being within two minutes walk of a tube station – completely immune to wider market conditions and always in high demand.\u201d<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Table shows the average asking price premium for homes listed with a ‘good view’ in each London borough<\/th>\n<\/tr>\n
Location<\/th>\n Price – good view<\/th>\n Borough price<\/th>\n Est price premium \u00a3<\/th>\n Est price premium %<\/th>\n<\/tr>\n
Lambeth<\/td>\n \u00a31,295,489<\/td>\n \u00a3545,537<\/td>\n \u00a3749,952<\/td>\n 137%<\/td>\n<\/tr>\n
Merton<\/td>\n \u00a31,242,012<\/td>\n \u00a3564,071 <\/td>\n\u00a3677,941<\/td>\n 120%<\/td>\n<\/tr>\n
Kensington and Chelsea<\/td>\n \u00a32,752,351<\/td>\n \u00a31,314,120<\/td>\n \u00a31,438,231<\/td>\n 109%<\/td>\n<\/tr>\n
Lewisham<\/td>\n \u00a3918,194<\/td>\n \u00a3442,180<\/td>\n \u00a3476,014<\/td>\n 108%<\/td>\n<\/tr>\n
Enfield <\/td>\n\u00a3914,036<\/td>\n \u00a3445,676<\/td>\n \u00a3468,360<\/td>\n 105%<\/td>\n<\/tr>\n
Westminster<\/td>\n \u00a31,825,894<\/td>\n \u00a3921,609<\/td>\n \u00a3904,285<\/td>\n 98%<\/td>\n<\/tr>\n
Wandsworth<\/td>\n \u00a31,237,115<\/td>\n \u00a3628,961<\/td>\n \u00a3608,154<\/td>\n 97%<\/td>\n<\/tr>\n
Southwark<\/td>\n \u00a31,002,898<\/td>\n \u00a3535,043<\/td>\n \u00a3467,855<\/td>\n 87%<\/td>\n<\/tr>\n
Sutton<\/td>\n \u00a3800,000<\/td>\n \u00a3430,883<\/td>\n \u00a3369,117<\/td>\n 86%<\/td>\n<\/tr>\n
Croydon<\/td>\n \u00a3759,683<\/td>\n \u00a3412,288<\/td>\n \u00a3347,395<\/td>\n 84%<\/td>\n<\/tr>\n
Greenwich<\/td>\n \u00a3761,701<\/td>\n \u00a3419,857<\/td>\n \u00a3341,844<\/td>\n 81%<\/td>\n<\/tr>\n
Hounslow <\/td>\n\u00a3804,052<\/td>\n \u00a3444,127<\/td>\n \u00a3359,925<\/td>\n 81%<\/td>\n<\/tr>\n
Kingston upon Thames<\/td>\n \u00a3992,034 <\/td>\n\u00a3552,129<\/td>\n \u00a3439,905<\/td>\n 80%<\/td>\n<\/tr>\n
Hillingdon<\/td>\n \u00a3786,308<\/td>\n \u00a3453,689<\/td>\n \u00a3332,619<\/td>\n 73%<\/td>\n<\/tr>\n
Tower Hamlets<\/td>\n \u00a3865,998<\/td>\n \u00a3501,583<\/td>\n \u00a3364,415<\/td>\n 73%<\/td>\n<\/tr>\n
Richmond upon Thames<\/td>\n \u00a31,292,884<\/td>\n \u00a3756,534<\/td>\n \u00a3536,350<\/td>\n 71%<\/td>\n<\/tr>\n
Redbridge<\/td>\n \u00a3764,222<\/td>\n \u00a3460,849<\/td>\n \u00a3303,373<\/td>\n 66%<\/td>\n<\/tr>\n
Hackney <\/td>\n\u00a31,059,739<\/td>\n \u00a3646,689<\/td>\n \u00a3413,050<\/td>\n 64%<\/td>\n<\/tr>\n
Hammersmith and Fulham<\/td>\n \u00a31,275,882<\/td>\n \u00a3787,893<\/td>\n \u00a3487,989<\/td>\n 62%<\/td>\n<\/tr>\n
Camden<\/td>\n \u00a31,392,897<\/td>\n \u00a3860,920<\/td>\n \u00a3531,977<\/td>\n 62%<\/td>\n<\/tr>\n
Islington<\/td>\n \u00a31,034,158<\/td>\n \u00a3690,034<\/td>\n \u00a3344,124<\/td>\n 50%<\/td>\n<\/tr>\n
Newham<\/td>\n \u00a3614,113<\/td>\n \u00a3415,092<\/td>\n \u00a3199,021<\/td>\n 48%<\/td>\n<\/tr>\n
Bromley<\/td>\n \u00a3694,397<\/td>\n \u00a3503,691<\/td>\n \u00a3190,706<\/td>\n 38%<\/td>\n<\/tr>\n
Barnet<\/td>\n\u00a3780,796<\/td>\n \u00a3579,798<\/td>\n \u00a3200,998<\/td>\n 35%<\/td>\n<\/tr>\n
Waltham Forest<\/td>\n \u00a3658,945<\/td>\n \u00a3504,472<\/td>\n \u00a3154,473<\/td>\n 31%<\/td>\n<\/tr>\n
Ealing<\/td>\n \u00a3663,869<\/td>\n \u00a3527,622<\/td>\n \u00a3136,247<\/td>\n 26%<\/td>\n<\/tr>\n
Brent<\/td>\n \u00a3657,784<\/td>\n \u00a3524,395<\/td>\n \u00a3133,389<\/td>\n 25%<\/td>\n<\/tr>\n
Harrow<\/td>\n \u00a3602,080<\/td>\n \u00a3512,866<\/td>\n \u00a389,214<\/td>\n 17%<\/td>\n<\/tr>\n
London<\/td>\n \u00a31,016,055<\/td>\n \u00a3525,629<\/td>\n \u00a3490,426<\/td>\n 93%<\/td>\n<\/tr>\n
*Boroughs missing due to lack of available data <\/th>\n<\/tr>\n
Barking and Dagenham<\/td>\n x <\/td>\n\u00a3355,594<\/td>\n x<\/td>\n x<\/td>\n<\/tr>\n
Bexley<\/td>\n x<\/td>\n \u00a3400,221<\/td>\n x<\/td>\n x<\/td>\n<\/tr>\n
City of London<\/td>\n x<\/td>\n \u00a3988,117<\/td>\n x<\/td>\n x<\/td>\n<\/tr>\n
Haringey<\/td>\n x<\/td>\n \u00a3605,643<\/td>\n x<\/td>\n x<\/td>\n<\/tr>\n
Havering<\/td>\n x<\/td>\n \u00a3421,725<\/td>\n x<\/td>\n x<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

London – good view price premium<\/strong>
\nGood views data sourced from Property Data
\nAverage house price data sourced from UK House Price Index<\/em><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

The latest research by London lettings and estate agent, Benham and Reeves, reveals that homebuyers who want a room with a view in London are facing house price premium of up to 140%. Benham and Reeves has analysed asking prices for London properties listed with the allure of a \u2018good view\u2019 to see how they … <\/p>\n

Continue reading “London homebuyers faced with 140% price premium for a room with a view”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[463],"tags":[],"class_list":["post-1399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-london-property-market"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/posts\/1399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/comments?post=1399"}],"version-history":[{"count":3,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/posts\/1399\/revisions"}],"predecessor-version":[{"id":1847,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/posts\/1399\/revisions\/1847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/media\/1400"}],"wp:attachment":[{"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/media?parent=1399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/categories?post=1399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/tags?post=1399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}