The capital’s parks, commons and heaths provide wonderful green areas for keeping healthy and enjoying the sun - and they are also giving a boost to house prices, with homes near open spaces worth up to 70 per cent more than elsewhere in the local neighbourhood.
As Winkworth launches its latest Property Exchange podcast, Park Life, Dominic Agace, Chief Executive of Winkworth, said: “London has these glorious parks and green spaces, with houses sitting on the edge with wonderful views of the greenery. Houses by these parks are worth 30 per cent more than a similar house in the wider borough and in some places, such as Green Park, this could be as much as 70 per cent to have a house overlooking the park than in the wider Westminster borough. Buyers in that market really do have the disposable income for that prized asset and the borough is as central as you can get.
“The famous garden squares of London are also highly appealing and have been for hundreds of years. The pandemic turbocharged the desire to be around green spaces and has reactivated parks, with children’s parties, people meeting up with friends, they’re much more lively places as a result.”
He added: “The capital has 35,000 acres of green spaces for Londoners, the largest amount in Europe. Berlin has 14 per cent of its land area as greenery, where we have 44 per cent. International financiers, for example, who can be flexible about where they live, somewhere where they can bring up the kids and have outdoor space is more appealing for a family with young kids than New York. We want clean air and a big part of that is having the trees and the greenery in the cities.”
Steve Brown, of Winkworth, whose office covers Blackheath, with its 211 acres of protected heathland and Greenwich, with its prized 184 acres of Royal Park, says both areas continue to attract a high level of demand from a wide range of buyers.
He told the podcast: “Blackheath is one of London’s greenest and most welcoming neighbourhoods with one of the largest open spaces in London, with an array of boutique shops, cafes, restaurants and artisan bakeries. Greenwich has a quaint village feel and is steeped in history, with the Greenwich Meridian Line, the Royal Observatory and the National Maritime Museum, among many other famous landmarks. One of London’s most iconic views is from the top of Greenwich Park, with the Canary Wharf skyline in the background and historic Greenwich in the foreground. There are deer, a lake, it’s just a lovely place to be. Prices have been rising this year but they are starting to stabilise. The demand is still there and at the moment outstripping supply. We get a mix of buyers. You can be at work in the city or Canary Wharf in 20 minutes to half an hour. There’s such a variety of architectural styles as well, attracting everyone from young professionals and growing families to those downsizing. There are several highly sought after independent and state schools close by. Entry level for a one bedroom flat starts at around £275,000, houses start around £650,000, with period properties starting between £1m and £1.2m.”
For those with lower budgets, Steve Brown recommends Lee, Hither Green, Lewisham, Brockley, Ladywell, Woolwich and Shooters Hill, all of which have large and popular parks and open spaces.