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Research by London lettings and estate agent, Benham and Reeves, has revealed just how much it costs to purchase a property within reach of the Capital\u2019s most famous landmarks. <\/p>\nResearch by London lettings and estate agent, Benham and Reeves, has revealed just how much it costs to purchase a property within reach of the Capital\u2019s most famous landmarks. <\/p>\n
Benham and Reeves analysed house price data across postcodes home to 15 of London\u2019s best-known locations including the Cutty Sark, Tower Bridge, Trafalgar Square and the Shard to name but a few. <\/p>\n
The research shows that on average, property prices surrounding these 15 famous locations comes in at a cool \u00a31.3m, 159% higher than the current London average of \u00a3500,310. <\/p>\n
However, the jewel in the capital\u2019s crown is the Royal Albert Hall. Property prices surrounding the Royal Albert Hall are an eye-watering \u00a33.1m on average, 524% higher than the London average, making it by far the most expensive London landmark from a property standpoint.<\/p>\n
Hot on the heels of the Royal Albert Hall is Piccadilly Circus, where London homebuyers would need to fork out an average of \u00a32m to live within reach of its famous lights. Westminster Abbey also ranks high with an average price of \u00a31.9m, along with Trafalgar Square where prices are a slightly more affordable \u00a31.5m. <\/p>\n
A property purchase close to the Shard (\u00a31.4m), the Globe Theatre (\u00a31.4m), Big Ben (\u00a31.3m), Buckingham Palace (\u00a31.3m) and the Tower of London (\u00a31.1m) will also require a budget in excess of \u00a31m. <\/p>\n
The Cutty Sark presents the most affordable foot on the London landmark property ladder, with an average property price of \u00a3581,872, with the neighbouring Royal Observatory also providing a relatively affordable option at \u00a3625,030. That said, both will still set you back between 16% and 25% more than the London average. <\/p>\n
The British Museum (\u00a3749k), St Paul\u2019s Cathedral (\u00a3793), Tower Bridge (\u00a3838) and the London Eye (\u00a3961k) are the only other London landmarks where the average price of property sits below the \u00a31m mark. <\/p>\n
Director of Benham and Reeves, Marc von Grundherr, commented:<\/strong><\/p>\n \u201cGiven that the majority of London\u2019s most famous landmarks are situated in some of the capital\u2019s more prestigious neighbourhoods, it comes as no surprise that property prices command a notable premium.<\/p>\n A property purchase in the top tiers of the London market is very much about status and what better way to boost this status by purchasing a home with the likes of the Royal Albert Hall or Big Ben on your doorstep. <\/p>\n These famous landmarks can almost act as an additional draw in the same way that a good transport link or school might and homes surrounding them are particularly popular amongst foreign buyers keen to secure a true slice of the London lifestyle.\u201d <\/p>\n Research by London lettings and estate agent, Benham and Reeves, has revealed just how much it costs to purchase a property within reach of the Capital\u2019s most famous landmarks. Benham and Reeves analysed house price data across postcodes home to 15 of London\u2019s best-known locations including the Cutty Sark, Tower Bridge, Trafalgar Square and the … <\/p>\n\n\n\n
\n London Landmark<\/th>\n Landmark Outcode<\/th>\n Average Outcode House Price (May 2021)<\/th>\n vs London Average<\/th>\n<\/tr>\n \n Royal Albert Hall<\/td>\n SW7 2<\/td>\n \u00a33,120,000<\/td>\n 524%<\/td>\n<\/tr>\n \n Piccadilly Circus<\/td>\n W1<\/td>\n \u00a31,995,365<\/td>\n 299%<\/td>\n<\/tr>\n \n Westminster Abbey<\/td>\n SW1P 3<\/td>\n \u00a31,876,522<\/td>\n 275%<\/td>\n<\/tr>\n \n Trafalgar Square<\/td>\n WC2<\/td>\n \u00a31,459,678<\/td>\n 192%<\/td>\n<\/tr>\n \n The Shard<\/td>\n SE1 9<\/td>\n \u00a31,410,526<\/td>\n 182%<\/td>\n<\/tr>\n \n Shakespeare’s Globe<\/td>\n SE1 9<\/td>\n \u00a31,410,526<\/td>\n 182%<\/td>\n<\/tr>\n \n Big Ben \/ Houses of Parliament<\/td>\n SW1<\/td>\n \u00a31,262,140<\/td>\n 152%<\/td>\n<\/tr>\n \n Buckingham Palace<\/td>\n SW1<\/td>\n \u00a31,262,140<\/td>\n 152%<\/td>\n<\/tr>\n \n Tower of London<\/td>\n EC3<\/td>\n \u00a31,119,988<\/td>\n 124%<\/td>\n<\/tr>\n \n London Eye<\/td>\n SE1 7<\/td>\n \u00a3961,137<\/td>\n 92%<\/td>\n<\/tr>\n \n Tower Bridge<\/td>\n SE1 2<\/td>\n \u00a3837,739<\/td>\n 67%<\/td>\n<\/tr>\n \n St Paul’s Cathedral<\/td>\n EC4<\/td>\n \u00a3793,030<\/td>\n 59%<\/td>\n<\/tr>\n \n British Museum<\/td>\n WC1<\/td>\n \u00a3748,927<\/td>\n 50%<\/td>\n<\/tr>\n \n Royal Observatory<\/td>\n SE10 8<\/td>\n \u00a3625,030<\/td>\n 25%<\/td>\n<\/tr>\n \n Cutty Sark<\/td>\n SE10 9<\/td>\n \u00a3581,872<\/td>\n 16%<\/td>\n<\/tr>\n \n Landmark Average<\/th>\n \u00a31,297,641<\/th>\n 159%<\/th>\n<\/tr>\n \n London Average<\/th>\n \u00a3500,310<\/th>\n N\/A<\/th>\n<\/tr>\n \n Landmark outcode property prices sourced via PropertyData<\/td>\n<\/tr>\n \n Average London house price souced from the Land Registry<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n","protected":false},"excerpt":{"rendered":"