House prices around Wimbledon have fallen over the past year, making SW19 the weakest-performing property market of the world’s four Grand Slam tennis host locations, according to new research.
Analysis by Benham and Reeves found that average values in Wimbledon Village and Wimbledon Park declined by almost 12% over the last 12 months, making it the only Grand Slam host market to record negative annual growth.
The research compares residential markets surrounding the venues of tennis’ four major championships, including Wimbledon in London, the Australian Open in Melbourne, the French Open in Paris and the US Open in New York.
As this year’s Wimbledon Championships get under way, the figures reveal a stark contrast between London’s prime tennis neighbourhood and its international counterparts.
BETTER DOWN UNDER
Melbourne recorded the strongest annual growth, with house prices across Richmond and Southbank, close to Melbourne Park, increasing by an estimated 18.3%.
Paris also posted healthy gains, with values in the French capital’s 16th arrondissement, home to Roland-Garros, rising by around 7.1%.
Meanwhile, the area surrounding Flushing Meadows-Corona Park in New York, home of the US Open, recorded annual house price growth of 3.8%.
The findings suggest Wimbledon has underperformed its international counterparts over the last year, despite remaining one of London’s most sought-after residential locations.
GLOBAL RECOGNITION
Benham and Reeves says the recent decline could create opportunities for buyers looking to enter one of the capital’s most prestigious postcodes while prices remain below recent highs.
Marc von Grundherr, Director of Benham and Reeves, says: “Wimbledon is synonymous with prestige, global recognition and some of London’s most desirable homes, which makes its recent house price performance particularly noteworthy.
“Prime markets often move differently to the wider housing sector and can be more sensitive to shifts in buyer sentiment, affordability considerations and broader economic conditions.”
He adds: “At the same time, the international appeal of Grand Slam locations remains clear. Whether in Melbourne, Paris, New York or London, these areas continue to benefit from global visibility, strong local identities and long-established residential demand.
“As every tennis fan knows, form can be temporary, and property markets are no different.”
