Rooms with a Thames view come with a high price tag

As the commercial importance of the Thames has waned, it is the appeal of waterfront living that is putting a value on the river, as homes with the best views command prices over a third higher than their neighbours off the river, new analysis from real estate adviser, Savills, reveals.
Researchers at the firm studied all sales within 100 metres of the river last year, on a stretch between Teddington Lock to the west and Royal Docks to the east, and found the average price of a home with a direct view of the river was 18-20 per cent more than the average for properties within one kilometre of the river. 
But all views are not equal, Savills Waterfront London report concludes.  A south bank location in central London commands the highest premium, with prices over a third (35.4%) higher than neighbouring properties away from the river, with the average waterfront flat selling for ?575,000.  Further away from the river the average selling price was just ?425,000. 
The most valuable central London waterfront locations are found along the north bank, though the river view comes with a relatively modest 16.3 per cent premium relative to close neighbours.  Here the average flat has a price tag of ?960,000 but that compares to an average of just ?825,000 within a kilometre of the river.
See how sales and lets vary along the river and see the average prices.
Unsurprisingly, the most affordable river views are found to the west and east of central London, where the average flat sold at just under ?500,000.
"Average prices on the river suggest there is still some value to be had for waterfront locations compared to prime central London", says Natalie Ingham, Savills residential research analyst.
"Over the next few years, the regeneration of areas such as Victoria and the development led growth around Nine Elms and South Bank - including Battersea Power Station, Riverwalk and the Shell Centre - will extend the boundaries of the prime waterfront market."
A pipeline of 13,200 riverfront units will be built over the next five years, accounting for 9.4 per cent of all expected inner London development.  But, says Ingham: "While a large pipeline can bring uncertainty to the market, the improving infrastructure - in particular transport links - will help boost the accessibility of these new waterfront communities."

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