The London Marathon was held on the 23rd of April, those looking for a roadside view of next year’s race without having to leave their home may not have to pay as much as in previous years. It has been announced that the average property prices along the route of the marathon seem to have peaked after only reporting an increase of 2.6% over the last 12 months. This percentage increase is below half of the UK average. Despite this, property across the marathon route can still cost nearly three quarters of a million pounds. These figures are according to HouseSimple.com, the online estate agency.
40,000 professional athletes and fun runners took part in this year’s marathon and in light of this HouseSimple looked at the average property prices at each of the mile points of the marathon route. These property prices have then been compared to the prices of a year ago. The research showed that the average price of properties along this route is £732,110. This staggering value is around three times more than the UK average. To put some perspective on this figure, first time buyers would have to save up more than £70,000 for a 10% deposit.
Despite the ludicrous prices, the two most expensive areas along the London Marathon route have experienced a drop in property price over the last year. In the Embankment area, the average house price sits at £1,658,887 and has experienced a 1.2% fall in price. The St James’ Park region of London has seen a 1.8% decrease in the average price in property, which now sits at £2,434,099. At the other end of the spectrum, Woolwich has the lowest average property price along the London Marathon route at £340,516 has seen the largest percentage increase over the past year of 8.3%. The percentage changes have been worked out in relation to the average price of houses in April 2016.