London homebuyers hoping to live near the capital’s most romantic landmarks are paying a hefty price for the privilege with premiums stretching beyond 63%, according to new research from Benham and Reeves.
The study compared average house prices across nine of London’s most romantic postcode districts with their wider local authority averages. Across all nine locations, the typical home costs £911,787, versus £741,128 across the surrounding boroughs — a romance premium of 20.6%.
In some areas, that uplift is far more pronounced. Homes in SW3, close to Albert Bridge, command average prices above £1.8m, representing a 63.6% premium compared with the wider Kensington & Chelsea and Wandsworth average of £936,691.
Similarly, buyers in EC3, home to both the Sky Garden and St Dunstan-in-the-East, face average prices of just over £1.1m – 54.5% higher than the City of London average. In NW3, properties around Primrose Hill are priced at almost £1.2m, a 36.7% uplift on Camden’s borough-wide average.
ROMANCE AT A COST
Elsewhere, romance still comes at a cost. Buyers near the London Eye or The Shard in SE1 pay a premium of 27.3%, while proximity to Hyde Park’s Serpentine in W2 adds 10.8%. Even Greenwich Park and St Paul’s Cathedral carry smaller but notable uplifts.
That said, not all romantic hotspots are overpriced. Homes near Kyoto Garden in W11 sit 2.9% below the wider Kensington & Chelsea average, while properties close to Kew Gardens in TW9 are priced 15.2% below the Richmond-upon-Thames norm.
“Emotional pull does have a downsize.”
Marc von Grundherr (main picture, inset), Director of Benham and Reeves, says: “London’s most romantic locations have long captured the hearts of those who reside within the capital and many of them have featured across the arts.
“However, our research shows that this emotional pull does have a downsize, as these locations are largely located within some of London’s most prestigious postcodes when it comes to property market values.”
STRONG DEMAND
He adds: “Whether it’s riverside strolls, skyline views or historic gardens on the doorstep, proximity to these iconic landmarks continues to command strong demand and an even stronger house price.
However, while love may come at a cost in some of the capital’s most sought-after spots, our findings also highlight that romance doesn’t always have to break the bank, with some beautiful locations still offering relative value for buyers willing to look beyond the obvious.”
