Comparing prices achieved for homes close to the river with non-riverside properties in the same postcode shows that riverside dwellers were happy to pay more. Analysing prices paid for flats sold since the start of 2020 shows that buyers paid, on average, 28.5% more for riverside properties.

To celebrate The Boat Race, an annual event between crews from the University of Oxford and the University of Cambridge, that took place Sunday 26^th March - JLL analysed the average price of flats along the route of the race, since the start of 2020, comparing those not on the riverside with those that are. See table below:

Average flat prices – Jan 2020 to date

Source: JLL Research using HM Land Registry

Chiswick had the lowest riverside premium at 10.7%, meanwhile in the postcode district of Hammersmith - incorporating the areas of Hammersmith and Ravenscourt Park - properties by the riverside saw a price premium of more than 50%. Buyers looking at properties along the stretch of the river running between Fulham and Richmond encompassing Putney and Barnes are paying between 20% and 37% more for to live close to the river. 

Alexander Troeller, Associate, Residential Development at JLL comments,

“The River Thames has always been an integral part of London and today those who live along the river can enjoy uninterrupted views. During the pandemic and ever since, there has been a sharp focus amongst buyers to have proximity to surrounding nature and as a result homes that have views overlooking the river have become increasingly popular.

“Alongside the popularity of a riverside view has been the growing demand for new homes across London, evidenced by annual reservations up by 6% compared in 2022 compared with 2021. New homes encompass a lot of what buyers want from their homes today; attractive interior design combined with perfectly curated residents’ amenities.”

Property example with riverside views:

Chelsea Riverview, William Morris Way, South West London, Fulham, SW6, London

Designed by award winning architects AFK, the ten-storey contemporary riverside development is being delivered by real estate developer, SMC Property. On completion, Chelsea Riverview will comprise 110 spacious homes, 73 of which are private, each with access to private balconies or oversized terraces. The scheme is conveniently located for easy access across London and beyond, situated on the doorstep of renowned Chelsea with many travel connections a short walk away and seamless access to international airport Heathrow.

Chelsea Riverview was designed with wellness in mind to offer residents the highest standards of comfort and luxury. In addition to the large balconies or sweeping terraces, a residents’ business lounge, cinema room, fitness suite equipped with Peloton bikes, yoga studio, pet grooming room and 24-hour manned front desk, comprising security and concierge. The scheme comprises studio, one-, two- and three-bedroom apartments. A select group of ten apartments within the development will form The Terrace Collection. These homes, located on the higher levels of the development will feature one of a kind large sized apartments with huge wrap-around terraces with views over the River Thames and across London as well as a premium specification uplift.

Prices from £675,000 - £2,325,000

https://residential.jll.co.uk/sale-development/chelsea-riverview/london-a0O8W00000FNHj7UAH

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.