{"id":882,"date":"2022-07-06T10:38:12","date_gmt":"2022-07-06T09:38:12","guid":{"rendered":"https:\/\/www.benhams.com\/press-release\/?p=882"},"modified":"2022-12-26T05:54:45","modified_gmt":"2022-12-26T05:54:45","slug":"london-parks-commanding-property-premiums","status":"publish","type":"post","link":"https:\/\/www.benhams.com\/press-release\/london-property-market\/london-parks-commanding-property-premiums\/","title":{"rendered":"London\u2019s parks commanding property premiums as high as 144%"},"content":{"rendered":"

\"HydeResearch from London lettings and estate agent, Benham and Reeves<\/a>, reveals that while homebuyers will, on average, have to pay 50% over London\u2019s average house price to live near one of the city\u2019s great parks, there are still some great parkside deals to be found where prices are up to -9.6% below the city average.<\/p>\n

There are a staggering 3,000 parks across the London and Benham and Reeves has revealed just how much it will set homebuyers back if they want to live within arm\u2019s reach of the 13 biggest and best.<\/p>\n

To live near one of London\u2019s 13 most popular parks comes with a hefty price premium. Homes near London\u2019s most renowned outdoor spaces sell for an average of \u00a3896\/sq ft which is \u00a3292 more, or 48.5%, above the wider London average.<\/p>\n

The most expensive London park to live near is Kensington Gardens, home of Kensington Palace and the Royal Albert Hall. It\u2019s as prime as the Prime London housing market gets and homes here sell for an average of \u00a31,474\/sq ft which is 144.2% above the city average.<\/p>\n

Homes near Green Park, with Buckingham Palace on one side and Piccadilly on the other, sell for \u00a31,408 which is a premium of 133.2%, while Hyde Park commands a premium of 132.6%.<\/p>\n

Some of the city\u2019s other biggest park premiums are found near St. James\u2019s Park (105.1%), Battersea Park (87.6%), and Regent\u2019s Park (70.9%).<\/p>\n

While parkside life in these locations is reserved for only the wealthiest of buyers, there are some great London parks where homes can be snapped up for much more reasonable sums.<\/p>\n

The most affordable of London\u2019s top parks is Crystal Palace Park, South East London\u2019s pride and joy which was initially created as a Victorian pleasure ground and, until its famous fire in 1936, home to the majestic Crystal Palace exhibition building. Nearby homes sell for an average price of \u00a3546\/sq ft which is -9.6% more affordable than the wider London average.<\/p>\n

Bushy Park in Richmond commands a premium of just 2.2%, and homes near Greenwich Park are priced just 6.2% above the London average.<\/p>\n

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

\u201cLondon\u2019s parks are one of its greatest attributes, helping rank the capital in the global top ten cities for green space. Many of these parks are small, hidden gems, but the ones contained in this list are among the greatest the country has to offer, so it\u2019s no surprise that nearby house prices tend to be so incredibly high.<\/p>\n

Despite this, there are still some great parkside deals to be found, though it\u2019s worth bearing in mind that because demand for open space living is so high at the moment, properties are going to be hard to come by and so competition is going to be stiff.\u201d<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Table shows average sold price per sq ft for homes located near to some of London’s top parks and their price difference vs the citywide average<\/th>\n<\/tr>\n
Category<\/th>\nPark name<\/th>\nAverage price (sold price \u00a3\/sq ft)<\/th>\nDifference vs London ave (\u00a3)<\/th>\nDifference vs London ave (%)<\/th>\n<\/tr>\n
Royal park<\/td>\nKensington Gardens<\/td>\n\u00a31,474<\/td>\n\u00a3870<\/td>\n144.2%<\/td>\n<\/tr>\n
Royal park<\/td>\nGreen Park<\/td>\n\u00a31,408<\/td>\n\u00a3804<\/td>\n133.2%<\/td>\n<\/tr>\n
Royal park<\/td>\nHyde Park<\/td>\n\u00a31,404<\/td>\n\u00a3801<\/td>\n132.6%<\/td>\n<\/tr>\n
Royal park<\/td>\nSt. James’s Park<\/td>\n\u00a31,238<\/td>\n\u00a3635<\/td>\n105.1%<\/td>\n<\/tr>\n
Council park<\/td>\nBattersea Park<\/td>\n\u00a31,132<\/td>\n\u00a3529<\/td>\n87.6%<\/td>\n<\/tr>\n
Royal park<\/td>\nRegent’s Park<\/td>\n\u00a31,032<\/td>\n\u00a3428<\/td>\n70.9%<\/td>\n<\/tr>\n
Royal park<\/td>\nRichmond Park<\/td>\n\u00a3757<\/td>\n\u00a3153<\/td>\n25.4%<\/td>\n<\/tr>\n
Council park<\/td>\nBrockwell Park<\/td>\n\u00a3719<\/td>\n\u00a3116<\/td>\n19.1%<\/td>\n<\/tr>\n
Council park<\/td>\nVictoria Park<\/td>\n\u00a3709<\/td>\n\u00a3105<\/td>\n17.4%<\/td>\n<\/tr>\n
Council park<\/td>\nAlexandra Park<\/td>\n\u00a3684<\/td>\n\u00a381<\/td>\n13.4%<\/td>\n<\/tr>\n
Royal park<\/td>\nGreenwich Park<\/td>\n\u00a3641<\/td>\n\u00a338<\/td>\n6.2%<\/td>\n<\/tr>\n
Royal park<\/td>\nBushy Park<\/td>\n\u00a3617<\/td>\n\u00a313<\/td>\n2.2%<\/td>\n<\/tr>\n
Council park<\/td>\nCrystal Palace Park<\/td>\n\u00a3546<\/td>\n-\u00a358<\/td>\n-9.6%<\/td>\n<\/tr>\n
Average overall<\/td>\n<\/td>\n\u00a3896<\/td>\n\u00a3292<\/td>\n48.5%<\/td>\n<\/tr>\n
London Average<\/td>\n<\/td>\n\u00a3603<\/td>\nn\/a<\/td>\nn\/a<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Research from London lettings and estate agent, Benham and Reeves, reveals that while homebuyers will, on average, have to pay 50% over London\u2019s average house price to live near one of the city\u2019s great parks, there are still some great parkside deals to be found where prices are up to -9.6% below the city average. … <\/p>\n

Continue reading “London\u2019s parks commanding property premiums as high as 144%”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[463],"tags":[],"class_list":["post-882","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\/882","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=882"}],"version-history":[{"count":4,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/posts\/882\/revisions"}],"predecessor-version":[{"id":1016,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/posts\/882\/revisions\/1016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/media\/883"}],"wp:attachment":[{"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/media?parent=882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/categories?post=882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benhams.com\/press-release\/wp-json\/wp\/v2\/tags?post=882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}