This weekend the Notting Hill Carnival returns for the Sunday and Monday of the bank holiday break, with thousands taking to the streets of one of London’s most prestigious areas.
Current Average Value in Notting Hill (£)
Change Since First Carnival
Since the first carnival in 1966, UK house prices have increased by 5,931%! While it’s no surprise that property in Notting Hill is some of the most expensive in the UK, leading hybrid estate agent, Emoov.co.uk, has looked at how property prices vary across the carnival route from the starting point on Great Western Road to the finish line on Ladbroke Grove.
City living often comes at a premium and so an increase in the number of sales agreed across all UK cities is a strong indicator of the stabilising health of the market and a returning level of both buyer and seller interest.
London has seen the most sustained decline of all UK cities so the early signs that downward price pressure is subsiding will be very welcome.
While London buyers may still be waking from their Brexit hibernation, there has been an influx of stock coming onto the market and this sign of confidence from sellers in the capital should soon filter through to the buyer side of the market.
When it does, the London market should start to find its feet again and continue to build momentum throughout the rest of the year.Russell Quirk
The Start – Great Western Road: £376,500
When the carnival kicks off on Great Western Road the price of property is at its lowest, just £376,500 as the parade heads down passed Westbourne Park to the junction of the B412. While this is still some £150,000 higher than the UK average, it is by far the most affordable place to buy on the carnival route.
Shrewsbury Road: £727,181
Once the parade reaches the B412 it takes a quick left and an immediate right onto Shrewsbury Road where the current average property value climbs to £727,181.
Talbot Road: £1,375,833
The carnival procession then turns left onto Talbot Road, while only at the end of Shrewsbury Road, this see’s the average property value increase by nearly £650,000 to £1,375,833.
Chepstow Road: £1,260,852
Just two roads later the carnival turns onto Chepstow Road with a current average value of £1.6m, following it all the way down to Westbourne Grove.
Westbourne Grove: £1,608,140
After taking a right at the end of Chepstow Road, the route then continues down Westbourne Grove until it reaches Kensington Park Road. The average property cost on Westbourne Grove reaches its highest yet at £1.6m.
Ladbroke Gardens: £2,432,588
Continuing straight across Kensington Park Road, the carnival then hits Ladbroke Gardens. One of the shortest roads on the route, at the hearty of Ladbroke’s private residential gardens and away from the main road, it is home to the highest property values on the route at £2,432,588.
Ladbroke Grove, W11: £2,131,642
As the carnival turns right and onto the home stretch on Ladbroke Grove, the price of property drops slightly to £2.1m heading up to Ladbroke Grove tube station at the W11 end of the road.
The Finish – Ladbroke Grove, W10: £810,868
Finally, as the procession crosses over to the W10 area of Ladbroke Grove, the average price of property drops off to £810k.