What is driving demand for new homes in Richmond?

27th May 2015

St James, Brewery Wharf, CGI

According to Rightmove, Richmond was one of the best performing boroughs last year, with year-on-year house price growth recorded in November 2014 at 12.6 per cent, with further signs of prosperity anticipated. But what key factors are driving such buoyancy?

Paul Hopkins, Managing Director, St James (North London) comments: "The house market in Richmond upon Thames, particularly Twickenham, is predominantly driven by local demand. This is evidenced by the fact that over 60% of reservations for new homes at our Brewery Wharf development, a collection of apartments and houses directly opposite the station, are local investors and movers, keen to either invest in bricks and mortar, or secure their next new home within the borough.

"Local agents tell us that once buyers move into the area, many struggle to leave, with many house owners moving at least three or four times, upsizing and downsizing, in order to remain in the area. Great shopping, waterside restaurants, outstanding OFSTED rated schools and lovely Thames Riverside  walks, plus parks and national landmarks and great commuter links all contribute to the appeal."

The desire to live in a location that offers excellent local amenities is echoed by the findings of a recent report published by estate agents, Strutt & Parker. The report revealed that 49% people want to live near shops, 45% public transport, 38% cultural stimulation, and 16% near a school within a mile or walking distance of home.

Paul Hopkins continues: "Although location remains a priority for many, stylish, flexible accommodation is of equal importance. A large open plan kitchen/family room is now a pre-requisite for modern day living, providing the perfect environment for entertaining friends and also a central hub for family life. Bonus rooms such as a study and utility room are becoming more of a necessity. Upstairs, we're seeing an increased desire for homes to have a sophisticated hotel-style finish with luxuriously designed bedrooms, en-suites, plus spacious dressing rooms where space permits."

"In terms of fixtures and fittings the new survey also revealed the top three items on the 'The Householders Interiors Wish List' were an Aga, a kitchen island and a wet room - with a cinema room, wine cellar and home gym also flagged as key items.

"Ultimately UK house owners aspire to live in a home they can be proud of. A house move is no longer just about bricks and mortar - a lifestyle change is now the most powerful motive for moving," Hopkins concluded.

A limited number of two bed apartments remain with prices starting from £550,000. POA for the four and five bed houses at Brewery Gate. Visit www.brewery-wharf.co.uk or contact the St James Sales Team on 020 3002 9457.

Back to Press Releases