"The SW1A postcode, in particular, has enjoyed a very strong rate of growth over the last year alone"
- Jean Jameson - Foxtons
This weekend will see London host the Sovereign's official birthday celebrations with Trooping the Colour, an awe-inspiring demonstration of British military precision involving over 1,400 parading soldiers, 400 musicians, 200 horses and even an RAF fly-past.
The event itself largely takes place along the Mall from Buckingham Palace, before the troops turn onto Horse Guards Road and assemble on Horse Guards Parade, the historical parade ground adjacent to St. James’s Park and Whitehall.
But analysis of London house price data from Foxtons shows that it’s not just the British military that is putting on an impressive display this weekend, with house prices surrounding Horse Guards Parade performing equally impressively.
The SW1A postcode, which includes Horse Guards Parade, the Mall, Buckingham Palace, and surrounding areas, now commands an average price of £785 per sq ft. That figure represents a 25% premium over the wider London market.
On the opposite side of the Mall, the SW1Y postcode has also recorded strong gains, with prices up 8.2% over the year to £767 per sq ft.
Foxtons' research also shows that, by contrast, the average London house price has increased by just 1.3% in the same period.
“The SW1A postcode, in particular, has enjoyed a very strong rate of growth over the last year alone,” said Jean Jameson, chief sales officer at Foxtons. “So those who might wish to enjoy this weekend’s spectacle from the comfort of their own home will need very deep pockets indeed.”
“Trooping the Colour is a fantastic tradition that encompasses everything that is great about London, our military service people, and the Royal Family,” Jameson continued. “But it’s not just this tradition that has stood the test of time, with the property market surrounding the Mall and Horse Guards Parade remaining one of, if not the most, prestigious and sought after on the global stage.”
