0

New research has taken a look at just how much you have to spend in the current market for a chance of watching the Trooping of the Colour from your window, as well as which London barracks are leading the charge when it comes to current property values.

The Trooping of the Colour takes place this Saturday to honour the King’s birthday with over 1,400 officers and men on parade, the route will take them from Buckingham Palace, along The Mall to Horse Guards Parade, Whitehall and back again.

The research shows that on average, a property in a postcode that borders the Trooping of the Colour route commands £1.16m in the current market.

LIS Show – MPU

That’s 32% more than the average house found across the City of Westminster and 122% higher than the London average.

Trooping the Colour property values are at their highest across the prestigious SW1A postcode, which covers Buckingham Palace, Green Park, St James’s Park, the southern border of the Mall and Whitehall.

The average home in the postcode currently commands £1.18m, while the average property price in the SW1Y postcode along the northern stretch of The Mall is £1.14m.

However, even the most prestigious pockets of the London market can’t avoid cooling market conditions.

But while the average house price in Westminster has fallen by -6.2% over the last year, property values in postcodes along the Trooping of the Colour route have seen a reduction of just -1.3%.

Of course, there is a select section of Londoners who needn’t worry about the high price of purchasing close to The Mall – the soldiers themselves.

At an average of £1.14m, homes surrounding the Wellington Barracks in the SW1H postcode are some of the highest of all London barracks.

In fact, just the Hyde Park Barracks is home to a higher average house price, with properties in the SW7 postcode commanding £1.96m, having also seen the highest annual rate of growth at 8.6%.

Marc von Grundherr, Director of the London lettings and estate agent, Benham and Reeves, comments:

“The Trooping of the Colour is not only a celebration of the monarch but a celebration of all that’s Great about being British and the pomp and pageantry draws huge crowds from all over the world.

However, if you want to make The Mall your permanent home you will need pretty deep pockets.

In fact, the surrounding area is so exclusive that homes rarely enter the market and, when they do, they sell for tremendous sums with the sale usually conducted privately.

Even those looking to purchase within the wider postcodes that form this prestigious part of town will spend well over double the London average, that is unless you’re stationed within the Wellington Barracks.”

Table shows the current average house price and annual change for homes in postcodes along the Trooping of the Colour route
Location Area Outcode Current Average House Price Change %
Horse Guards Parade The Mall / Victoria Memorial / Horse Guards Road SW1A £1,181,860 -2.1%
The Mall / St James’s SW1Y £1,138,140 -0.3%
Trooping the Colour Average £1,160,000 -1.3%
City of Westminster £875,883.00 -6.20%
London Average £523,325.00 1.60%
Table shows current average house price and annual change for postcodes home to a London barracks
Current and historic Army barracks – London Outcode Current Average House Price Change %
Hyde Park Barracks SW7 £1,962,044 8.6%
Royal Artillery Barracks, Woolwich SE18 £408,353 4.3%
Woolwich Garrison SE18 £408,353 4.3%
Finsbury Barracks EC1Y £729,800 0.4%
Wellington Barracks SW1H £1,138,140 -0.3%
Regent’s Park Barracks NW1 £857,185 -2.6%
SUBSCRIBE
Subscribe to our weekly newsletter
Stay informed with our leading property sector news, delivered free to your inbox. 
Subscribe
Your information will be used to subscribe you to our newsletter and send you relevant email communications. View our Privacy Policy
Property Notify
Property Notify is a leading property sector publisher reporting on breaking news and political changes affecting the UK property industry, in addition to finance, tax and investment coverage we provide a hub to explore, contribute, invest in and celebrate the property industry. - Read more.

    Top Four Ways London Continues to Draw in International Buyers

    Previous article

    HSBC Temporarily Withdraws Mortgage Deals Amid Turbulent Times in UK Lending Market

    Next article

    You may also like

    Comments

    Leave a reply

    Your email address will not be published. Required fields are marked *

    More in News