The Kingston property market

October 22, 2019

Although it is the oldest of the four London Royal Boroughs, Kingston upon Thames is still an upcoming town. Located on the River Thames with a remarkably unique market square and ideal transport links to Central London, Heathrow Airport and the M25, it is clear to see why this area is being snapped up by investors and buyers alike.

Residents who are lucky enough to live in Kingston can take a walk along the river and stop for coffee, culture or a spot of shopping in one of the many cafes, shops or museums the borough has to offer.

When compared to the average house price in London, Kingston upon Thames is approximately 4.7 per cent above the London average of £592,388 (Foxtons). According to the Land Registry, the Kingston market has performed well in the last year and has seen house prices rise by 14 per cent. These properties are still 25 per cent cheaper than comparable homes in surrounding affluent areas such as Richmond and Wimbledon.

Most locals within this area live in a town dominated by two and three-bedroom terrace and semi-detached houses, many of which are Victorian builds. The selling prices of these properties mainly depend on their proximity to the Thames and the railway station (Financial Times).

Dominic Pasqua, the head of Knight Frank´s local office said: “It’s like prime central London but with even larger houses, much more outside space, fewer planning constraints and an infrastructure that’s good for families and for privacy”.

Contrary to belief, rental prices in Kingston´s area are surprisingly low. On average, rent will cost a resident just £473 per week which is 27.1 per cent below London´s average of £648 per week (Foxtons).

The latest ONS Census stated that 21 per cent of households in Kingson upon Thames were rented privately through a private landlord or letting agency, equal to over 13,000 individuals. This overshadowed the rest of England, where the average was only 15.4 per cent, proving that landlords would never have an issue with finding tenants in this popular area.

Currently, the average property value stands at £631,197 (Zoopla). According to Zoopla, the past 5 years have seen over 3,400 properties sold and a 6.57 per cent increase in value change. Even though these statistics might indicate a densely populated area, Kingston is still one of the least populated London boroughs. This gives its residents the best of both worlds, where one side of the threshold is the hustle and bustle of Central London, but on the other is tranquillity and a peaceful social life.

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