Living in south-west London affords many benefits – easy access to the capital, great outdoor spaces, top-class restaurants and retail – in short everything you need to lead a complete metropolitan lifestyle. But what it also offers is a chance to live either on or by the nation’s most famous waterway, the River Thames. Could this be the best place to live in London?
Flowing from Essex to Kent, the river passes through Chiswick, Richmond and Kingston offering an array of impressive waterside houses and apartments. But what are the realities of living near the water’s edge?
“I live on the river and I wouldn’t live anywhere else,” says Francis Stickney, head of Waterside House Sales at River Homes. “Aside from the fantastic views, it’s great for bike rides, making the most of the outdoors and there is such a great community too.”
While all this may sound tempting, there are a few considerations that must be taken into account when thinking of such a move. According to Francis, homes with river views cost around 15% to 20% more than landlocked properties, although as Francis points out the dwellings “hold their value” better than non-riverside properties. “Aside from the many lifestyle plus points, the price reflects the demand. From Cheyne Walk in Chelsea to Staines, there are only about 3,500 homes with river views - not many in comparison to the number of other types of property across that area.”
With recent changes in climate, some people may be worried about flooding and higher insurance premiums. It’s a good idea to check out local flood risk indicators (flood-warning-information.service.gov.uk) before you visit the property and to speak to the current owners or the developers to determine what options are available. If the residence is deemed high risk, visit a local broker who may be able to offer more specialist advice.
One of the benefits of owning a riverside property is that it offers direct access to the water and a possible mooring. However, as you would expect, this also accrues a fee which is payable to the Port of London Authority, the Environment Agency or the Canals and Rivers Trust – the organisations who look after the riverbed on behalf of the Crown. Prices vary year on year - for a guide to this year’s figures visit, www.gov.uk.
"I live on the river and I wouldn't live anywhere else"
While living next to the river is one option, another is to actually live in a houseboat on the river. As with ordinary houses, the cost depends on the location, size and condition of the vessel. According to Nigel Day, head of houseboats at River Homes, prices for a narrow boat in say Little Venice start at an affordable £125,000, rising to £2m+ for a floating home in Wandsworth.
“The good news is that there is no stamp duty to pay,” says Nigel. “However, a houseboat does not qualify for a mortgage so you must be a cash buyer. You are also liable for council tax if the boat is a residence and not just used for leisure purposes as well as mooring fees which can range from anything between £5,000-£125,000.”
Morag Gillespie has lived in East Molesey for 16 years. She says: “We spotted the house in the paper and although we weren’t looking to move, the picture of the view sold it to us. Our house backs on to the River Ember, which joins the Thames at Hampton Court Palace. We have a 200ft garden that opens on to a shared grassy riverbank, where our boat is moored and although the house is a standard semi on the main road, we would never consider moving.
The only time we have had to worry about our surroundings is when the children were younger. If they had friends over we had to watch them all the time in case they managed to open the gate at the bottom of the garden.
The river offers an extra community – we share it and there is a lovely mix of gardeners, sailors and fishermen. Basically, it’s our own rural idyll, 20 minutes from London. So, if a life messing about on the river floats your boat then find our more at riverliving.co.uk
