Waterfront London properties take 30 per cent premium, a bargain compared to Paris

London waterfront homes come with a hefty price tag, but the 30 per cent premium to inland properties still falls well below equivalents in Paris and Sydney.

While homeowners with a view of the water can expect to pay a hefty premium in London, they are fetching bargains compared to Paris and Perth, where the premium is 48 per cent and 53 per cent respectively, data from estate agent Knight Frank shows.

The highest premium worldwide can be found in Sydney, where waterside properties sell at 89 per cent more than those inland. London is ninth on the list.

“Water has a mesmerising effect on people,” said Trevor Abrahmsohn, the chief executive of estate agency Glentree International. “Waterfront properties tend to remain in private hands for longer because people have to fight so hard to get them, which is why they command such a high price.”

Some of the most valuable riverside houses in London are at the Riverwalk development overlooking the Thames from Westminster, where prices range from £1.2m to £22.5m.

Other top apartments can be found in Chelsea, Battersea and Vauxhall, Knight Frank said.

Riverside properties can be popular because they are easy to sell on. “Even in a depressed market, due to their position and scarcity, a frontline waterfront property will face strong demand with prospective buyers aware that their future exit strategy will also be assured,” said Liam Bailey, global head of research at Knight Frank.

The cost of owning property with iconic views across the Thames was calculated by comparing the 13,000 riverside properties from Fulham to Southwark to comparable properties inland.