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Industry insights

Richmond and the surrounding areas – a house price update

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If you’re selling your home, or looking to list it very soon, you’ll want to know how your local area is performing in terms of house price growth.

A popular, desirable and high-demand area, with steadily rising home values to boot, is likely to improve your chances of selling with relative ease and for the best possible price.

With this in mind, here at Parkgate Estates we provide a quick update on the house price situation in Richmond and the local areas surrounding it.

Richmond prices show steady growth

Richmond, a picturesque, affluent riverside town in south-west London, has long been a favourite among commuters thanks to its eclectic shops, upmarket restaurants and sense of tranquillity despite only being a short distance from the centre of the capital.

It also offers proximity to Richmond Park, the largest of the royal parks and famous for its red deer and reputation as a place of national and international importance for wildlife conservation.

Richmond’s overall average price will please local homeowners thinking about selling up. It currently stands at around the £930,000 mark, up 3% on the year before according to Rightmove.

What’s more, it’s up some 5% on 2015 when the average house price was just over £898,000. Given its position on the outskirts of London, it seems to have avoided some of the slowdown in prime parts of the capital where tax changes and Brexit uncertainty have both bitten.

While homes (especially semi-detached properties) in Richmond go for well over £1 million, it’s not an exclusive enclave like some other parts of London. It has a more village-like feel and a strong sense of community. It’s also a hotbed for flats, which – with an average price of around £590,000 – might prove more affordable to some buyers while still giving sellers a good price for their home.

Thanks to its strong transport links, riverside location, easy access to green space and varied high street, Richmond remains a very popular area among buyers. This high demand should keep prices on a steady upward curve in 2019 despite external challenges.

Richmond upon Thames scores highly on quality of life

The London Borough of Richmond upon Thames – which includes Richmond, East Sheen, North Sheen, Sheen Park and Mortlake among its many locations – was recently revealed as London’s second strongest performer in Halifax’s latest quality of life survey.

The research analysed a range of data to rank the areas with the best quality of life, covering the labour and housing markets, the environment, education, health, personal wellbeing and leisure.

Things like low crime rates, high employment levels, smaller primary school sizes, strong exam results and good health and happiness were most likely to propel places into the top 50. In a competitive field, Richmond upon Thames secured 40th spot. Only one other London location – Westminster in 15th position – bettered that.

Of course, it stands to reason that a borough which scores highly on quality of life will be popular among property buyers, so Richmond upon Thames’ performance in the survey should be cause for celebration if you are looking to sell here in the coming months.

Demand is likely to be high and buyers are likely to be competing hard for homes in desirable areas, which together should improve your chances of achieving your asking price or above.

Overall, Richmond upon Thames as a whole has an average asking price of just over £800,000 – up by around 4% since 2016 despite the ongoing uncertainty caused by Brexit during that time.

Its areas vary, too, from the buzzier, more residential feel of East Sheen – with its very long high street – to village-esque, family-friendly Mortlake, a popular part of south-west London thanks to its lovely riverside walks, good local schools, and superb transport links.

Putney recording steady growth

Although Putney, another area we cover at Parkgate Estates, isn’t in the London Borough of Richmond upon Thames, it sits very close by. The leafy area falls under the jurisdiction of the London Borough of Wandsworth, but also benefits from a riverside location away from the hustle and bustle.

Situated close to Wandsworth Park – another of the capital’s loveliest green spaces – Putney has a nice mix of independent and chain shops, as well as a local library, a cinema, entertainment venues and a number of local schools (both primary and secondary) and nurseries.

In addition, it boasts terrific transport links, with Putney station (South Western Railway services), East Putney station (District Line) and Putney Bridge (also District Line) all in the local vicinity.

Property prices have also been rising strongly of late, with sold prices in Putney up 6% on the previous year, according to Rightmove. The current average price is a shade over £750,000, with flats the most popular property type for buyers.

Terraced houses are also in demand, while semi-detached properties – with an average price of more than £1.5 million – attract a more niche, high-end buyer demographic.

It was also recently revealed that Putney will be part of a government-backed pioneering project to build rooftop properties in London on top of existing buildings. This should bring further press coverage to the Putney area, which could in turn lead to an upsurge in buyer interest.

For more information about selling your property in Richmond, Sheen, Mortlake and Putney, please get in touch with Parkgate Estates on: 0208 940 2991.

To find out how much your home could be worth in the current marketplace, you can also request a free and instant online valuation.

Emre OvacıkEmre Ovacık
08:38 01 Sep 23
Very responsive, informative and always kind people. We didn't have much time, but they helped us with creating some time in their agenda and squeezing us in. We rented our place just in time, thanks to them.
Branka ObradovicBranka Obradovic
12:21 22 Feb 23
Parkgate has been my agent of choice for a number of years now and has secured good tenants for my properties. They are hard working, respond in a timely manner and best of all are always friendly rather than aggressive or overbearing, which is the case with many of their competitors.
Jorge RodriguezJorge Rodriguez
15:01 02 Feb 23
Excellent service throughout.We rented a property that they manage for 4 years.Parkgate team is very professional and approachable. Way better than dealing with a big agency, they offer a more personal approach, always available and willing to solve any issues.From the tenancy agreement to handing the property back, it has been a real pleasure working with them.
Catherine BrownCatherine Brown
12:16 30 Aug 22
I have had an eight year relationship with Parkgate, in fact they originally sold my flat to me 12 years ago in Putney. Their service and professionalism is unrivalled. They managed the leasing of my flat from 2014 and assisted me to negotiate the successful sale just now in 2022. Chris has been there throughout with an open door and no request too trivial to assist. Klaudia negotiated my sale and worked with amazing tenacity throughout. I would not hesitate to recommend Parkgate to anyone in the Putney/Richmond area, they know their stuff.
Ali ChampkinsAli Champkins
10:16 31 Jan 22
We have had a wonderful experience with Parkgate and would highly recommend them. Chris was brilliant on the valuation - what we liked is he was totally honest about our chances of selling and gave us the positives and negatives about our property (such as facing a council estate!). Other agents tend to just gush over the good bits which is great, but actually not that helpful.The selling process was great - we were given good feedback from the viewings and got the price we wanted within about 8 weeks.We really have nothing but praise for Klaudia and Chris, it's been really enjoyable, easy and stress free and we will be recommending Parkgate to all our friends in the area and our building.***** Thank you! *****