Wimbledon property market to see net gains from Olympics
Nick Dawson, London Home Finder for Garrington and resident of Wimbledon shares his thoughts on the Wimbledon property market and how the spotlight of the London 2012 Olympics will still be shining as a desirable place to live after the games.
Wimbledon Village in South West London is never far from the news and at least once a year it is in the headlines for two weeks every June and July thanks to the tennis championships. Yet this year with the Olympic Tennis being held at the AELTC, the spotlight is firmly focused on SW19 and SW20 to a global audience.
As a Wimbledon resident with family living in the Village for three generations, it is clear that it offers so much for young families and couples. There are many high quality preparatory schools in the village and three private secondary schools (Kings College, Wimbledon College and Wimbledon High school), which as an experienced London Home Finder is high on many family’s lists when looking for a family home. The attraction of the schools, the village ambiance, the shops and café culture and the green open spaces of the common, results in high demand for the prime houses.
The Village has so much to offer, with its boutique designers shops; Joseph, Max Mara, , Reiss, Diane Von Furstenberg, Jigsaw, Hobbs, LK Bennett, and the newly opened restaurants on the Lawn Bistro, Claude Bosi (of Hibiscus Fame), Fox & Grapes plus a numerous amount of smart chain cafes and bistros.
Many properties along the prime roads in Wimbledon Village sell off market as local residents who have been in the village for several generations tend to trade within the “dinner party circuit” to known friends or family. If you live outside of Wimbledon this can be daunting and cause alarm! You need to be in the property market, active, visible to the agents and known personally within the village. Prime rates per square foot regularly exceed £900 – £1,200 on an average property valued between £3.5 – £6 million (typically found on roads such as; Marryat, Lauriston, The Grange, Burghley, Alan Road, Highbury Road and Murray Road). For those working in the City and Blackfriars, the station in Wimbledon gives efficient access to Waterloo and out of London.
For those not needing to live in Wimbledon Village, you should look around surrounding areas such as Coombe, Copse Hill, Wimbledon Park, Wimbledon Town and South Park. Housing in these areas is more affordable, where properties typically priced around £700 per square foot or £1.5 – £2.5 million for a 4 or 5 bedroom, semi-detached or detached family house, offer appeal.
Wimbledon has for many years been a highly attractive place to live and work and with the Olympic spotlight further enhancing the reputation and profile of the area, I see no reason as to why the popularity and demand to live in Wimbledon Village will not rise further long after the games.
