New analysis of Land Registry data by Foxtons reveals a striking disparity in London property prices along the route of the upcoming London Marathon, with a near £1 million difference between homes near the start line in Blackheath and those at the finish line on The Mall.
The 45th TCS London Marathon, which takes place this weekend (Sunday 27 April) will see over 56,000 runners cover the 26.2-mile route through 15 London postcodes.
A review of average sold prices across each of the marathon’s mile markers shows that property values vary considerably depending on location along the course.
At the starting line in the SE3 postcode of Blackheath, the average home sold for £533,500 over the past year. This is significantly lower than at the finish line in the SW1A postcode, where average sale prices reached £1.5 million – the highest along the route and nearly £1 million more than in SE3.
MILE MARKER THREE
The most affordable section of the marathon route is in the SE18 postcode of Woolwich, at mile marker three, where the average sold price was £428,500. Mile markers seven and eight, which pass through SE8 (Greenwich and Deptford), recorded the second-lowest average at £445,644.
The third most affordable location is the E1 postcode in Shadwell, home to mile marker 22, where the average property sold for £466,500.
SHARP DIVIDE
The data highlights the continued sharp divide in London’s residential property market, with prices fluctuating significantly even within the relatively short distance of a marathon route.
The findings also highlight the persistent premium attached to central London addresses, particularly those in proximity to historic landmarks and government institutions near the Mall.
MOMENTOUS EFFORT
Jean Jameson, Chief Sales Officer at Foxtons, says: “The London Marathon is a reminder of everything that is great about London, as people from all walks of life, backgrounds, religions and races come together in one momentous effort to raise money for charity and to support their friends and family.
“The course itself is also a great demonstration of what London has to offer, from the leafy suburbs of Blackheath, to the rugged charm of Woolwich and Shadwell, the modern splendour of Canary Wharf and the historic charm of Tower Hill and the Mall.”
FIFTEEN POSTCODES
He adds: “In just 26.2 miles, the participants will pass through no less than 15 different London postcodes and these postcodes really demonstrate the diversity of the London property market, from the more affordable areas to the East and the prime heartlands of the finish line.
“And for those keen on purchasing a property along the route itself, there are plenty more affordable options than the £1.5m average price for the SW1A finish line postcode.”
