Richmond

Area Guide For Richmond

Richmond is a town in south west London, England and is part of the London Borough of Richmond upon Thames. It is located 8.2 miles (13.2 km) west-southwest of Charing Cross. The founding and naming of Richmond followed the Tudor building of Richmond Palace early in the 16th century. During this era the town was particularly associated with Elizabeth I. The development of Richmond as a London suburb then began with the opening of the railway station in 1846. It was formerly part of the ancient parish of Kingston upon Thames in the county of Surrey and it became a municipal borough in 1890 that was enlarged in 1892 and 1933. It has formed part of Greater London since 1965. Richmond is a much sought after residential location, and among the most wealthy areas in the United Kingdom. It is also a significant commercial and upmarket retail centre, and has a developed day and evening economy. The town is located on a meander of the River Thames, with a large number of parks and open spaces, including Richmond Park, and many protected conservation areas. Richmond is noted for its high quality of life, as well as its affluence, and has been assessed as one of the happiest places in which

 
 

Richmond Map

Estimated Price: £252,014
Average Asking Price: £188,444
Price change in last one year: £14,918
Average Price Paid: £222,131
Average Rent Rates: £533

 
 

Property Prices Breakdown in Richmond

Average Price for property in Richmond is around £252,014 which varies based on type of property you are interested in and ranges from £332,947 for detached house to around £208,360 for semi-detached. Similarly terraced house is around £193,572 and a flat is worth £154,366. Values have been changing and have risen £1,748 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £6,510 in last 6 months, £14,918 in last 1 year, £19,748 in last 2 years, £17,370 in last 3 years, £4,585 in last 4 years and £10,986 in last 5 years.

Currently average asking price of a property in Richmond is around £188,444 based on approximately 303 properties for sale. Same is the case with rental options based on 924 properties up for rent, average asking rent is around £533 per month.

Estimated property value in Richmond is £252,014. Average asking price is £188,444 while average price paid is £218,959 which is up by £14,918 and Avg. asking rent £533.Based on an Online Survey

Buyers are willing to pay high dollar prices to grab these properties because of the recent trend in real estate investment especially in Richmond area. In last 1 year alone average price buyer paid is around £218,959 based on approximately 303 sales in Richmond area alone. If you compare it to last 3 years sales of 874 properties where buyers paid around £216,849. It has been same for some time now for e.g. if you take an average of amount paid in last 5 years, it comes to around £222,131 for 1,394 and average amount paid for purchase of approx. 1,845 properties sold in last 7 years comes to about £221,591 per sale.

 
 

Properties For Sale in Richmond

 
 

Breakdown of asking prices for homes of different sizes show that price varies clearly based on no of bedrooms and type of house. Asking price for a house with 1 bedroom is around £92,858, £99,661 for a 2 bedroom house, £151,128 for a 3 bedroom house, £267,835 for a 4 bedroom house and £405,811 for a 5 bedroom house. For a flat similarly the prices varies from £94,325 for a single bedroom to £108,899 for a 2 bedroom Flat. Same is the case with 3 bedroom flat £192,120. To sum up the asking prices for properties in Richmond it comes to around average £93,722 for 1 bedroom property, £100,802 for 2 bedroom, £151,471 for 3 bedroom, £267,835 for 4 bedroom and £405,811 for a 5 bedroom property.

Rent per calendar month varies similarly based on type and size of the house. If you look at the rents per month for houses alone it can vary from £401 for 1 bedroom to £399 for 2 bedrooms, £481 for 3 bedrooms, £713 for 4 bedrooms and £1,171 for 5 bedrooms house. But if you are interested in renting a 1 bedroom flat then rent per month can be around £371. As the no. of bedroom increase so will the rent e.g. for a 2 bedroom flat it will be around £465, £559 for 3 bedroom, £475 for 4 bedroom and around £498 for 5 bedroom flat. You should be generally be expecting around average £377 rent per month for single bedroom property, £410 for 2 bedroom, £482 for 3 bedroom, £700 for 4 bedroom and approximately £1,086 for a 5 bedroom property in Richmond area.

Popular Houses in Richmond

Disclaimer : Location real estate estimates and values are based on House price index background data and Sales data provided by United Kingdom Land registry Records available as public records from their website. This information is updated monthly on our website and may not reflect all public transactions. This information is based on estimated calculation generated from our developed algorithms. We are striving to make this information as accurate and useful as possible. This data covers the transactions received at Land Registry in the period 1/1/1995 to 9/1/2014. © Crown copyright 2014. Data produced by Land Registry © Crown copyright 2014.

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