Contemporary estate agency Nested recently released research data, indicating that while Wimbledon’s house prices have not shown remarkable growth over the last year, the globally renowned tennis location still takes the lead in housing price premiums, scoring over the other grand slam venues.
The agency studied house prices in areas surrounding the four major grand slam venues worldwide, assessing their performance over the last year and the added cost of homes in close proximity to these venues compared to the broader areas they are situated in.
The study unveiled that the property market in the SW19 postcode, encompassing the Wimbledon Village, has not fared exceptionally well in the past year. The house prices around the legendary tennis location have merely increased by 1%.
Surprisingly, it’s the 16th arrondissement of Paris, the French Open’s venue, that ranks highest, witnessing a 2% increase in house prices over the last year.
With an average house price of £743,482, the French Open also overshadows Wimbledon in terms of the overall house price. However, the average home in the SW19 postcode still boasts a commendable price of £664,999 today.
Wimbledon homeowners can still feel relieved as their counterparts in Richmond Park, the Australian Open venue, have seen a dip in house prices by -2.5% over the last year. Meanwhile, property values at Flushing Meadows Corona Park, the US Open venue, have crept up by a mere 0.5% over the same period.
Still, the news isn’t all bleak. When set against property values in their wider areas, Wimbledon indeed sits at the top of the grand slam property value table.
The SW19 postcode, with an average house price of £664,999, is an impressive 14.7% higher than the average across the borough of Merton.
Next in line is the Australian Open, where homes around Melbourne Park are worth 13.5% more than the broader average house price in Melbourne.
For those seeking grand slam affordability, homes around Flushing Meadows Corona Park command an average of £400,714, which is a staggering -21% less than the average purchasing cost in Queens, New York.
Nested’s Managing Director, Alice Bullard, offered her insights. She said: “The London property market has been largely dormant since the pandemic market boom. No tennis Grand Slam location has demonstrated strong performance, yet Paris has nudged ahead of London in terms of the annual growth rate and overall house price strength. Despite this, in terms of prestige, Wimbledon remains the world number one with the house price premiums in the SW19 postcode outpacing the rest.”
