Liquid error: wrong number of arguments (2 for 1) Thames view homes 'worth 20 per cent more than those streets away' | Marsh & Parsons Sales and Lettings Estate Agents London

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Thames view homes 'worth 20 per cent more than those streets away'

Tue 01 Apr 2014

Thames view homes 'worth 20 per cent more than those streets away'

Homes with a clear view of the Thames are worth up to 20 per cent more than those sited just a few roads inland, a new report claims today.

A riverside vista - particularly on the four miles and 374 yards route of the Boat Race between Putney and Mortlake - is still one of the most sought after extras in the capital despite increased fears about the risk of flooding following the wettest winter on record.

London agents Marsh & Parsons, which carried out the research, pointed to a four bedroom flat in Fulham on the market for 1.925 million immediately behind the tow-path near Wandsworth Bridge. A similar property just one street back from the river but with no views is valued at 1.65 million or 17 per cent less.

Sought after: Thames views Peter Rollings, chief executive of Marsh & Parsons, said: As a rule of thumb, the enduring appeal of old father Thames adds 20 per cent in value to property that overlooks it. During the Boat Race, those with prime river views enjoy the kudos of showing off the best seats in town to friends, but it is the year-round appeal of the river that generates the price difference. Breath-taking river views add a real sense of space to a property, and scenic river paths provide opportunities for walking and cycling through the capital. Emerging new build developments stand out in particular, many of which have been marketed abroad, and are in high demand from both UK and international buyers.

Luxury flat: a four-bedroom property is on the market for 1.925 million. The findings follow similar research from agents Savills that found an average 13 per cent price gap between properties 100 metres away from the river and those 1km distant. The biggest river premium was in the south west of the capital between Teddington and Wandsworth Bridge, where it rose to 19.4 per cent.

Apartments with a view of water are particularly prized by Chinese investors as they are valued for their superior feng shui.

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