Recent research by estate agent, Nested, reveals that Wimbledon, despite its lacklustre performance in house price growth over the past year, still holds the title for the highest property price premium amongst the locations of the four tennis grand slam venues worldwide.
The study, which examined house prices around each grand slam location and their performance over the past year, unveiled that house prices in Wimbledon Village’s SW19 postcode experienced a modest growth of only 1% in the last year.
However, the Parisian 16th arrondissement, home to the French Open, claimed the crown for the most significant house price increase, witnessing a 2% climb over the past year. With an average house price of £743,482, the French Open also outperformed Wimbledon in terms of overall house prices, while the average home in SW19 stood at a respectable £664,999.
Amongst the other grand slams, properties around Melbourne Park, home to the Australian Open, saw a decrease of 2.5% in the past year, whereas properties around Flushing Meadows Corona Park, the site of the US Open, experienced a mere increase of 0.5%.
Despite these figures, Wimbledon still outshines the other grand slam venues when comparing property values to the wider areas in which they are located. The average house price in the SW19 postcode stands at £664,999, which is 14.7% higher than the wider Merton borough’s average.
In contrast, homes surrounding Melbourne Park command 13.5% more than the broader average house price in Melbourne, ranking second in this respect.
Interestingly, if affordability is a key criterion, homes around Flushing Meadows Corona Park appear to be a good bargain, with the average house price of £400,714 reflecting a 21% drop from the wider average price in Queens, New York.
Alice Bullard, managing director at Nested, said: “Although no tennis Grand Slam location has performed particularly strongly, Paris has edged ahead of London when it comes to both the annual rate of growth and overall house price strength.
“However, in terms of prestige, Wimbledon’s property market remains the world number one, with house price premiums commanded in the SW19 postcode sitting ahead of the rest.”
