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Written by Conor Shilling

Property prices in Balham outpaced those in the rest of the capital in 2014 with annual growth of 21%, according to estate agent Marsh & Parsons’ latest London Property Monitor. 
 
Marsh & Parsons calculates the average Prime London home to have risen in value by £95,000 in the past twelve months. 
 
The research also suggests that due to higher demand for more affordable housing, house price inflation in so-called suburban ‘villages’ in Outer Prime London like Balham has increased at a faster rate than expected.
 
Favoured by first-time buyers and young families, Balham witnessed the steepest annual growth during 2014 – closely followed by leafy Brook Green where property values are now 19% higher than a year ago.  
 
“The prestigious prime property bastions of Kensington, Chelsea and Holland Park will always command worldwide appeal from buyers – however everyday demand for more affordable homes has catapulted Balham and other Outer Prime corners of the capital onto the map,” according to Peter Rollings, CEO of Marsh & Parsons. 
 
He says that Londoners are increasingly willing to compromise on location in return for more living spice and an affordable price tag. 
 
Marsh and Parsons’ research highlights the differences between Prime Central London (PCL) locations and outer prime locations. The biggest difference in average price was on four bedroom properties, with a difference of £1,566,108 between the average cost in PCL and Outer Prime London. 
 
Rollings concluded by saying that his agency are not expecting any further price growth in Prime London until after May’s general election. 
 

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