The latest research from Cluttons compares riverfront and non-riverfront properties in the Central London market. On average, riverfront flats have lost just 4% of their value in the past two years, compared to a fall in average prices of 13% for properties in the same area without a river view, the agent found.
There are a number of factors that make riverfront properties desirable, including the proximity to the capital’s landmarks and tourist attractions and the regeneration taking place close to the Thames which continues to add appeal.
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James Hyman, Partner at Cluttons, said: ‘Waterfront living has become increasingly popular over the past five years with the migration of people back to London from the suburbs looking for this type of property. Some of the most innovative and aesthetically pleasing developments in recent years have been built on the river.
‘Limited supply has proved to be the key value driver in Central London over the past twelve months. There are few opportunities for further developments to be built along the Thames and the fact that a riverfront view cannot be easily matched within the Central London area has helped to protect values amongst these property types. Both landlords and owner-occupiers of these properties will continue to demand good returns on investment through rental yields, in addition to reaping the rewards when they come to sell.’