The golden triangle: Are property prices best in garden squares?

The golden triangle: Are property prices best in garden squares?

According to the latest property prices, London has a brand new 'golden triangle' - an area centred around three main places in Prime Central London where the vast majority of England and Wales' top prices are situated.

Data published by Lloyds TSB shows that 16 of the countries top 20 streets in terms of property value are situated in a triangle made up of Chelsea, Notting Hill and Wimbledon. 

The latter is home to the most expensive street in the country - Parkside - where the average price of purchase currently stands at £5 million. Notting Hill has the second and third most expensive Wycombe Square and Blenheim Crescent, where prices now average out at around £4.4 million and £4.3 million respectively. 

So why is it that these three locations are performing so much better than everywhere else in the country? 

There are a few trends that we can see just from looking at the more expensive areas. For one, they are all very close to public transport - a factor that will get a positive reaction from any commuter, and a real London favourite when it comes to adding to value.

Notting Hill Gate, Chelsea and Winbledon Underground stations are all situated less than five minutes walk from the best performing streets in the capital. 

Another common factor - and one that is perhaps not as obvious - is their proximity to green spaces. Living in the urban wonderland that is London can be fantastic, but it seems those with a bit of money to spend also want the chance to get away from this from time to time. 

Wimbledon, of course, has its own common, great for those who want to spend some down time at the weekend with family, while other top performers are situated in what are known as garden squares - buildings that are erected surrounding an area of greenery.

Four of the top ten performing streets have these garden square structures within them. 

And then finally, there is the building itself to consider. One thing all of these golden triangle areas has in common is its prevalence of beautiful buildings. 

While the bright-eyed and bushy tailed young professionals may be hunting out some of the newer buildings in the centre of the city, golden triangle buyers seek out the townhouses and large apartments that can be found in the beautifully converted period buildings in these three areas.

So when it comes to the best performing areas in the capital, it's clear to see that although trends are different than in the centre of the city, they are still very much a factor.