This weekend the River Thames will provide the focal point for another major event in the sporting calendar, as some 30,000 people take to the streets of London to run in the 2015 London Marathon. For the 35th time since it was founded in 1981, professional athletes and oversized chickens alike will run the 26.2 miles, taking them across the heart of the capital.
The runners will begin at the Blackheath end of Greenwich Park, finishing on average, some 4.5 hours later in Green Park. Taking in an array of sites from the London Eye to Buckingham Palace, each participant will run through a varied number of London boroughs. Online estate agent, Emoov.co.uk, has taken a look at the sort of property available over the 26 mile markers.
1 Mile Marker: Blackheath
Blackheath, the starting point of the marathon, is spread across the boroughs of Greenwich and Lewisham. As home to the largest area of common land in Greater London and due to its desirable school catchment areas, property in Blackheath is of particularly high demand. This offer of lush green lands in the centre of London, coupled with other sought after factors, results in an average house price in Blackheath of £699,967 – over three times the national average.
Emoov.co.uk recently listed a three bedroom, end terrace in Nelson Mandela Road, just a short walk from Greenwich Park. This property was snapped up selling for £415,000, highlighting the speed at which the market can move in London’s most in demand boroughs.
6 Mile Marker: Greenwich
As the runners circle round from Woolwich and back towards Greenwich Park, some may start to consider the daunting task ahead of them. Historically linked with the Royal Family, Greenwich was the fourth borough of London to be granted royal status in 2012. It doesn’t quite match the allure of Blackheath’s green and pleasant landscape, as reflected in an average house price of £560,529.
Since the last time the starter’s gun sounded, house price increases in Greenwich have stalled, after seeing some of their biggest increases for a number of years. However the area is still considerably higher than the national average, this three bedroom terrace, close to North Greenwich tube station on Tunnel Avenue, is on the market with Emoov at £450,000.
12 Mile Marker: Bermondsey
As the runners leave Greenwich, heading up through Deptford and Canada Water, the route will take them into the London Borough of Southwark. As they approach London Bridge, the best known lifeline connecting North and South London, the runners will pass through Bermondsey. Due to its close proximity to the City of London, Bermondsey has an average house price of £1,015,239 – one of the more expensive south of the river.
Since the last marathon house prices in Bermondsey have remained almost static, with the average house price only rising by a couple of thousand. At £425,000, £32,500 cheaper than the average price of a flat in Bermondsey, Emoov are listing this two bedroom flat in Swan Road. Located in a turn of the century building, the property is a prime example of the marriage between Bermondsey’s historic architecture and a modernised interior.
13 Mile Marker: Whitechapel
As participants approach the half way mark, crossing the iconic London Bridge and heading east towards Poplar, property prices fall slightly. Whitechapel, the hunting ground of Jack the Ripper, has never really shaken its shady image and has long been thought of as a working class neighbourhood.
However with an average house price of £866,291, the E1 postcode is far from affordable and even the average price of a flat, £566,513, is well over the national average for a house. Hardly surprising given its location in the heart of the capital, its close proximity to the City of London and the wealth of commuter options available to residents.
At £325,000 this one bedroom flat, listed by Emoov, highlights the high price property can fetch in central London in particular, regardless of the property type or borough in which it’s situated.
16 Mile Marker: Isle of Dogs
As the legs begin to wobble, those running in the pantomime donkey suit will be starting to regret their decision. As they head around the Isle of Dogs, birth place of Millwall F.C, the long road back east to the finish line will feel a life time away.
Canary Wharf has become a hub for business in London, particularly within the financial sector, providing employment for some 90,000+ people.
The creation of the Docklands Light Railway and the extension of the Jubilee line has helped breathe new life into the area, providing the vital transport links needed to maintain its rejuvenation. This is evident with a rise of 5% in property prices since last April, with this two bedroom flat in Canary Wharf, on the market with Emoov, at £550,000.
26 Mile Marker: Belgravia
As the runners head down through the political hub of Westminster and on to the finish line, legs and lungs will no doubt be screaming. Nestled between St James’s Park and Green Park, the finish line is surrounded by some of the most prestigious neighbourhoods in London.
No surprise then that it is also home to some of the highest property prices along the marathon route. At an average price of £3,133,362 and just a stone’s throw away from the finish, Belgravia is one of the areas of prime central London that has seen a serious decline in demand for property.
This is evident with the asking price of this two bedroom terrace house on Ann’s Close, listed with Emoov at £2,125,000. By listing with Emoov on their standard package of £495+VAT, this seller will save in the region of £39,000 in estate agent fees – a saving of around £14,000 after Stamp Duty Tax.
Although prices in Belgravia have increased by 31% in the last year, the drop in demand is starting to see this upward trend reversed – even if only by a small margin.
None the less it makes a fitting location for 30,000 exhausted bodies to sprawl out in the London sunshine, adorned in tinfoil blankets and gasping for air after a job well done.