Research by Nested, the modern estate agent, shows that while Wimbledon house prices have failed to serve up a significant increase over the last year, the world famous venue remains the grand slam tennis champion when it comes to the house price premium homes command, acing the other grand slam venues in the calendar.
Nested analysed house prices surrounding each of the four tennis grand slam venues around the world, how they have performed over the last year and just how much more a home within close proximity of these venues will cost you when compared to the wider areas in which they are situated.
The research shows that the property market hasn’t performed particularly strongly across the Wimbledon Village postcode of SW19 over the last year. House prices surrounding the world famous tennis venue have increased by just 1%.
It is, in fact, the 16th arrondissement of Paris – home to the French Open – that tops the table, with house prices climbing by 2% over the last year.
With a current average house price of £743,482, the French Open also outperforms Wimbledon when it comes to overall house price, although the average home in the SW19 postcode still commands a respectable £664,999 today.
However, it could be worse for WImbledon adjacent homeowners. House prices in Richmond Park, home to the Australian Open, are down -2.5% in the last year. While Flushing Meadows Corona Park, host of the US Open, has seen property market values climb by just 0.5% over the last year alone.
And there is some good news. When comparing grand slam venue property values to the wider areas they are located in, Wimbledon does sit top of the tennis property table.
The current average house price of £664,999 within the SW19 postcode is a notable 14.7% higher than the wider average for the borough of Merton.
The Australian Open ranks second in this respect, where homes surrounding Melbourne Park command 13.5% more than the wider average house price in Melbourne.
However, if it’s grand slam affordability you’re looking for, homes surrounding Flushing Meadows Corona Park currently command an average of £400,714 a huge -21% less than the wider cost of purchasing in Queens, New York.
Alice Bullard, Managing Director at Nested, the modern estate agent said, “The London property market has been largely dormant since the start of the pandemic market boom and while no tennis Grand Slam location has performed particularly strongly, Paris has edged ahead of London when it comes to both the annual rate of growth and overall house price strength.
However, when it comes to which is the most prestigious property market, Wimbledon remains the world number one, with the house price premiums commanded in the SW19 postcode sitting ahead of the rest.”
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