Wimbledon A Magent For City Bankers

Most exclusive address in Britain is in SW19

Wimbledon is becoming a magnet for bankers looking to spend their bonuses on a new home, according to a property website.

Primelocation has placed Wimbledon at 15th on a list of the country's top 20 hotspots where City money is likely to be spent on property.

And another survey has revealed the most expensive residential street in Britain is Parkside, on the edge of Wimbledon Common.

According to John Keeble, Associate Director at Hampton International, the area is attracting family buyers, young bachelors and foreign bankers.

He said: "We experience a lot of City demand because Wimbledon seems to have what they’re looking for – excellent local schools, great transport links, fine detached properties, the green expanse of the Common and a lovely village atmosphere with plenty of cultural and sporting facilities; ballet classes, music societies, horse riding, and quality restaurants and shops.

"We get family buyers looking for large period homes in Wimbledon Village – roads like Marryat and Alan would be very sought-after. Prices go from £5-15 million.

"Wimbledon also attracts younger bachelor City workers because it has some very good contemporary architecture, or period homes architecturally remodelled in a contemporary style. We’ve recently sold one on Vineyard Hill Road to a young banker – he liked the style and the fact that it had a garage large enough for a Range Rover.

"Wimbledon is also perennially popular with foreign bankers – they’ve heard of it because of the tennis and it appeals to their sense of quintessential Englishness."

Meanwhile, a Lloyds TSB survey pinpointed Parkside as the most exclusive address in Britain, with property prices averaging £5,058,000 in the four years from 2006-2010.

The research showed there are about 228 streets in England and Wales with an average house price above £1 million, and 36 with an average price of more than £2 million.

More than half of them are actually in Kensington and Chelsea, but Wycombe Square in Kensington, which topped the list last year, fell to second place with an average of £4.4 million.

January 7, 2011
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