Price Gaps Gallop: House Prices Soar Mile by Mile Along London Marathon Route
As they cover the distance of 26.2 miles with relentless effort miles , the 56,000 participants taking on the London Marathon This weekend, you might decide to lift your gaze and observe your environment when things get difficult.
After all, there’s ample opportunity for distraction – be it the thundering roar of the crowd. crowds , the thrill of going past iconic landmarks such as Tower Bridge and St Paul’s Cathedral, or simply enjoying a glimpse into the homes along the route.
Needless to say, there is significant variability in the attributes along the path—and a recent study has pinpointed a price discrepancy of nearly £1,000,000 from the beginning to the end point.
By examining the sold price records from Land Registry data, the study investigated property values across various postcodes located at each of the 26-mile markers along the route of London. Marathon .
The path traverses as many as 15 distinct postal codes, and over the past year, the beginning section in Blackheath, SE3, has witnessed homes selling for an average price of £533,500.
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On the opposite end of the spectrum, individuals who aspire to own property but find themselves at the finish line may need to start saving diligently or explore alternative options like participating in lotteries.
Finishing at the upscale SW1A postal district of The Mall – located mere moments from Buckingham Palace – residences in this area usually sold for around £1,500,000 within the past year, as per an analysis conducted by estate agency Foxtons.
Needless to say, this far exceeds the UK's average. property price , as statistics from Rightmove demonstrate that the usual asking price is £377,000.
However, what about the most budget-friendly postal code? Located merely three miles into the race, Woolwich (SE18) boasts the least expensive properties along the route. London Marathon route.
In the past year, the average price of homes here was £428,500 – approximately £200,000 less than the current typical price across the capital, which now stands at £686,250.
This seemingly useless subway line houses some of London's priciest mortgages.
Have you ever thought about what your fellow travelers pay for their monthly passes? mortgages ? A research project has pinpointed the London tube lines with the highest monthly costs.
As always, it’s important to keep an eye on things. mortgage gap as the Waterloo and City line has been deemed the most costly homeowners On the clandestine network with an average monthly payout of £5,632.
Given that this route—commonly referred to as 'The Drain'—only includes two stations: Waterloo and Bank. Both of these stations fall within Zone 1, with the trip between them usually lasting about four minutes, making this evident. disgruntled Redditors rename it as 'useless.'
Therefore, considering there were just two stations involved, what prompted its construction? Back in the late 1800s, surveys revealed that around 12,000 people each day required transportation between Waterloo and the City (with numerous others commuting into Surrey and nearby home counties for work).
Thus, in 1894, construction started on this brief yet delightful underground railway. It was officially opened by Prince George, the Duke of Cambridge, in 1898.
The outlook was equally encouraging for SE8, which passes through mile markers 7 in Greenwich and 8 in Deptford, boasting the second-most budget-friendly homes along the way at £445,644.
Runners will come across a fairly decent bargain (by Big Smoke standards, of course) around mile 22 in Shadwell (E1), where home prices have averaged £466,500 over the past year — making it the third most affordable spot along the famous route.
'The London Marathon serves as a testament to what makes London truly special,' stated Jean Jameson, Chief Sales Officer at Foxtons. 'It brings individuals from various professions, cultures, faiths, and ethnicities together in an extraordinary collective endeavor to fundraise for charitable causes and cheer for loved ones.'
'The route perfectly showcases what London can provide, ranging from the verdant neighborhoods of Blackheath to the rough-around-the-edges appeal of Woolwich and Shadwell, the contemporary grandeur of Canary Wharf, and the historical allure of Tower Hill and The Mall.'
Jean added that the 15 postcodes representing London across the route embodied the ‘diversity of the London property market,’ from ‘the more affordable areas to the East and the prime heartlands of the finish line.’
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