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The premium for living in a London village

Research that we’ve recently compiled with Zoopla reveals that living in or near to a village in London can typically command a premium in the region of 51%. Having analysed more than 24 village areas across London, we found that on average a £200,000 premium applies for living within these sought after areas. Furthermore, we’ve found that while the average value of a property in London costs £456,802, a home in a village will cost closer to £691,046.

As expected, Hampstead village in NW3 is the most expensive village in which to live, with the average property value amounting to £1.5million, while Charlton village, SE7, is the cheapest in which to invest, with the average value achieving just under £300,000. There are also significant differences in price between two similar villages in close proximity to each other. For instance, living in Brackenbury village, W6, attracts a 27% premium than if you lived one mile away in nearby Brook Green.

While many definitions abound for what typically classifies a village as such, most people agree that villages started out consisting of a relatively small cluster of houses centered around a church. The absence of a town hall and mayor definitively set villages apart from slightly larger towns in the 18th century. London boasts many charming villages which can be characterised by green spaces, independent shops, weekend farmers markets and thriving high streets, in addition, good schools are often found in many of the village areas. These features provide a close-knit community which has become increasingly popular and sought after.

Below is a snapshot of the research which shows just how much values have risen in these villages in just one short year. 

HIGHLIGHTS:

The average premium for living in a village is 51%.
The average value of a village property is £691,046. Prices have increased by 10% annually.
The average value of a London property London is £456,802. Prices have increased by 10% annually.
Munster village has seen the biggest rise in values at 18%. The average property here costs £840,837.
Hampstead village is the most expensive with the average property costing £1,525,109. Prices have risen by 13% annually.
The least expensive village is Charlton where the average property costs £292,679 and prices have risen by 11% annually.

LONDON VILLAGES:

Abbeville village, SW4: average property value is £778,587 | annual price increase is 10%
Barnes village, SW13: average property value is £1,197,056 | annual price increase is 15%
Battersea village, SW11: average property value is £687,498 | annual price increase is 9%
Bellevue village, SW12: average property value is £668,069 | annual price increase is 10%
Belsize village, NW3: average property value is £874,964 | annual price increase is 13%
Blackheath village, SE3: average property value is £526,074 | annual price increase is 4%
Brackenbury village, W6: average property value is £719,119 | annual price increase is 7%
Brook Green village, W14: average property value is £564,211 | annual price increase is 8%
Charlton village, SE7: average property value is £292,679 | annual price increase is 11%
Chiswick village, W4: average property value is £581,800 | annual price increase is 6%
Clapham village, SW4: average property value is £712,455 | annual price increase is 10%
Clerkenwell village, EC1: average property value is £596,855 | annual price increase is 17%
Connaught village, W2: average property value is £909,476 | annual price increase is 12%
Dulwich village, SE21: average property value is £677,602 | annual price increase is 10%
Fauconberg village, W4: average property value is £780,356 | annual price increase is 8%
Hampstead village, NW3: average property value is £1,525,109 | annual price increase is 13%
Hither Green village, SE6: average property value is £301,222 | annual price increase is 8%
Little Venice village, W9: average property value is £812,903 | annual price increase is 8%
Munster village, SW6: average property value is £840,837 | annual price increase is 18%
Northcote village, SW11: average property value is £778,254 | annual price increase is 10%
Primrose Hill village, NW1: average property value is £908,325 | annual price increase is 15%
Shortlands village, BR2: average property value is £308,917 | annual price increase is 4%
Southfields village, SW18: average property value is £488,862 | annual price increase is 7%
Wimbledon village, SW19: average property value is £1,023,744 | annual price increase is 6%

*All research is from Zoopla.co.uk and is based on July 2013 figures.

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In house team London Property Market

As the marketing and communications team at Kinleigh Folkard & Hayward's head office, our aim is to keep you updated and informed where the London property market is concerned. In addition, we'll bring you tips on navigating current issues and trends in the market when buying, selling, letting and renting to ensure that whatever field you're interested in, you'll be completely informed.

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