The Thames has always played a pivotal role in the success of London’s economy. Today, it is the uniqueness of waterfront living and the associated lifestyle on offer that has come to define the city’s river.

The housing stock available along the Thames varies dramatically and for this reason there is also a diverse mix of buyers.

Between Teddington Lock and Putney Bridge in the South West, period property dominates the waterfront market, characterised by large houses, many with gardens stretching right to the riverbank. The riverside market in the east mainly consists of new build schemes in amongst industrial and warehouse conversions. And central markets are different still. Period properties were generally built back from the waterfront and so new developments tend to be those that are located right on the edge of the Thames.

The desirability of London’s waterfront appeals to a variety of residents. Attracted by the lifestyle the river has to offer, 78 per cent of prime buyers are owner occupiers with 16 per cent buying a second home and 6 per cent investors. Waterfront properties can be a popular option for pied-a-terre buyers due to their “lock up and leave” nature, particularly new build homes.

The price buyers pay for the prestige

The prestige of living on London’s riverfront unsurprisingly comes at a price. Along the 27 mile stretch of the Thames between Teddington Lock and the Royal Docks, buyers are willing to pay 19.5 per cent more for second hand flats located within 100m of the bank compared with those up to 1km away.

But this number varies significantly depending on location. The central stretch of the Thames, between Putney Bridge and Waterloo Bridge, is the most expensive. Buyers can expect to pay more than £1,530,000 for a second hand flat on the north bank and £926,000 to the south.

The Thames played an important role in the growth of the south west London corridor helping areas such as Putney, Barnes, Chiswick and Richmond to become the prime residential markets they are today. Here, the average second hand sale price of flats along the river cost £700,000 but houses are more than double that at £1,530,000.

To the east, where average values tend to be lower as the development of prime markets such as Canary Wharf and Wapping has been more recent, average values are £684,000 for second hand flats.

Further information

Contact Frances McDonald