central london property and the park premium
DESCRIPTION
As a Central London estate agent, Sandfords has long believed that houses and apartments close to the capital’s parks are the most coveted and now new research backs this up.TRANSCRIPT
Specialists in Sales, Lettings and acquisition of prime residential property in Central and North West London
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Central London property and the park premium
A green and pleasant city
Living in a Central London property does not mean a life of concrete, noise and constant hustle. Our capital is blessed with a huge number of open spaces, parks and garden squares where trees, grass and flowers provide the perfect foil for city life. In fact, the World Cities Culture Forum puts London ahead of Paris, New York and Tokyo in terms of green open space.
Royal Parks push up house prices
Properties for sale in Central London bordering open spaces have always been popular and their mere existence motivates many home movers. As a Central London estate agent, Sandfords has long believed that houses and apartments close to the capital’s parks are the most coveted and now new research backs this up. The Parkside Premium Report by Dataloft found that selling prices for apartments located on roads surrounding five Central London royal parks have increased 172% in the last ten years.
Hyde Park - the premium royal park
Although house prices in all of the top five centrally-located royal parks have seen uplift, there is a clear winner. Hyde Park, in the borough of Westminster, has seen the greatest increase, with a premium of 23.8% between 2013 and 2014. Values in the streets surrounding Hyde Park have surpassed £9,000 per square foot, setting records along the way.
The Regent’s Park - prices still rising The Regent’s Park is another of London’s great royal parks,
spanning over 395 acres and encompassing London Zoo,
the Open Air Theatre and Queen Mary’s Gardens. The
value of properties for sale in Regent’s Park has been rising
for some years, report Rightmove, with sold prices up 17%
on the previous year, and up 23% on the level seen in
2012. Regent’s Park has an overall average sold price of
£1,479,828.
Not royal but still right - Hampstead Heath
Although it doesn’t have a royal prefix, Hampstead Heath should not be overlooked when searching properties for sale in Central London. The Heath is an ancient London park spanning 320 hectares is just moments from some of the most fabulous houses for sale in Hampstead. Property price appreciation has been pretty special too, with sold values up 14% in the last year, and up 27% since 2012, according to Rightmove.
Why parklife is so popular
Andrew Ellinas, the Managing Director at Regent’s Park estate agents Sandfords, says that living close to or on the edge of a London park gives people the right urban mix: “As our lives get busier, buildings get taller and working hours get longer, people need more balance but they don’t want to travel for a sense of space. London parks provide a slice of bucolic charm in the centre of the city. It’s easy to take a long walk, hire a boat, listen to music at a bandstand or watch the seasons change without straying too far from the hustle and bustle. It’s a facet that home movers from across the globe find unique and a property overlooking Regent’s Park, Hyde Park or one of London’s other premium open spaces will always have a sell-out audience.”
Properties for Sale in Central London
Maisonette for sale in Cumberland Mansions, George Street, London, W1
2 bedroom House for sale in Wimpole Mews,
London, W1
For an updated and complete list of properties for sale in Central London , please visit www.sandfords.com
Contact UsIf you would like details of properties for sale in Central London with modern kitchens and the latest appliances, please contact Central London estate agents Sandfords today.
Sandfords Property Management
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London W1U 5NA
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