Almost £1.4m difference in property prices between the start and finish lines of London Marathon
The latest property market analysis from London’s number one lettings and sales estate agency brand, Foxtons, has revealed that there’s a difference of almost £1.4m in the average sold price from the starting point of the London Marathon and the finish line.
As London’s largest estate agent, Foxtons holds an unrivalled view of the London market and just where the capital’s homebuyers are most active.
The 46th London Marathon is set to take place on Sunday 26th April with more than 56,000 runners expected to take to the streets of the capital to take on the 26.2 mile long course.
Ahead of the race, Foxtons has analysed sold price records from the Land Registry, looking at property values across the predominant postcodes for each of the 26 mile markers, as well as the start and finish line.
Starting line average house price – £550,000
The research shows that as the runners take to the starting line, the route will take them through 15 different London postcodes, with the average of a home differing drastically from one mile marker to the next.
Blackheath’s SE3 postcode is home to the start line, as well as the first mile marker and, over the last year, the average home in this postcode has sold for £550,000 on average.
Most affordable mile markers for London homebuyers
However, those in search of the most affordable marathon vantage point will need to clock a few more miles, as it’s the SE8 postcode of Deptford at mile markers seven and eight that boasts the most affordable property prices on the route.
Over the last year, the average price of properties sold across the SE8 postcode comes in at just £409,000.
The SE18 postcode, home to mile markers two and three in Woolwich, is home to the second most affordable house price on the route, averaging £425,000 over the last year.
However, if you’d prefer to purchase towards the latter stages of the marathon, it’s mile markers 13 and 22 in Shadwell’s E1 postcode that could make the best option, where property prices have averaged £470,000 over the last year, the third most affordable on the entire route.
Finish line home to highest average house price
But those with ambitions of buying on the finish line itself will need a far bigger budget, as the SW1A postcode of The Mall and the London Marathon finish line is home to the highest average house price on the route.
Over the last year, the average home across the SW1A postcode has sold for £1.9m, almost £1.4m more than the average cost of purchasing close to the starting line and some £388,000 more expensive than it was when last year’s marathon took place.
James Stevenson, Managing Director – Sales at Foxtons, commented:
“The London Marathon showcases the very best of the capital, bringing together thousands of people from every background and every corner of the city for one shared occasion.
“The route also provides a fascinating snapshot of London’s property market. In the space of just 26.2 miles, the race passes through 15 different postcodes, each with its own character, appeal and price point, from the more affordable areas of Woolwich, Deptford and Shadwell, through to the prime heart of central London at the finish line.
“It’s this variety that makes the London market so unique. Whether buyers are looking for better value, riverside living, village-like neighbourhoods or a prime central address, the marathon route demonstrates that there is something to suit different budgets and lifestyles across the capital.”
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