View of a garden square 'boosts London house price by ten per cent'
05-19-2015
A view over one of London’s characteristic garden squares will add 10 per cent to a home’s value, a survey claims today.
Agents Knight Frank, which studies the price performance of thousands of properties across central London from 2008 to 2014, found that prices of homes on addresses such as Eaton Square or Kensington Square with views of the gardens outperformed similar nearby properties without views.
The best performance was in the SW3 Chelsea and SW7 South Kensington postcodes where the outperformance was 16.2 per cent and 15.1 per cent respectively.
Garden square properties also performed better during the downturn after the financial crash with prices only falling 18 per cent on average compared with 24 per cent for prime central London as a whole.
Liam Bailey, Knight Frank’s global head of research, said: “Prime property across London has performed strong over recent years; it is still notable however how much more resilient property near garden squares have shown itself to be through the recent circle. It is also instructive to note how one of London’s most iconic urban forms adds value to property.”
The survey was carried out with Earls Court developers Capital & Counties, which is creating a new garden square at their Lillie Square scheme.