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For the next two weeks, tennis fans from all around the world will be focused on just one small area of the UK. The SW19 postcode will be home to some of the biggest and best tennis stars of the world – and their fans.
Property proves to be the real winner over this next fortnight. Whilst the male and female singles champions can be expected to walk away with a cool £2.25 million in winnings, it still wouldn’t be enough to buy a dream property in Wimbledon.
In fact, according to recent research, the average price of a detached house in the area is now upwards of £2.9 million, putting it out of reach for many – including the Wimbledon winners! After being named Wimble champions, they will still need over an extra half million pounds to put down roots in this popular spot.
In addition, some of the houses on the roads closest to the tennis courts recently sold for more than £6 million, mainly due to the impressively high rents they can charge during the tournament.
A couple of decades ago, a few enterprising individuals realised the power in renting out their homes to tennis stars, their entourages, and the big corporate sponsors. Now some of the biggest houses on the most sought after streets are commanding up to £15,000 per week rent.
It is not only the big boys getting in on the act. Over 80,000 Airbnb guests are expected to arrive in Wimbledon and local residents could make a total of £2 million by listing their residences.
Locals don’t need to put their whole property out to rent to cash in. Just letting out their parking spaces can net them up to £1500 whilst one of London’s biggest attractions is on.
Properties near the train stations can earn around £10 per day, with those closer to the gates expecting around upwards of £30 per day. Visitors are using websites and apps like JustPark to secure their spot and take the hassle out of parking, and helping the residents pile up the pounds.
WHAT ELSE HAS WIMBLEDON GOT TO OFFER?
It is easy to be swept away by the romance of a big payday from a tennis tournament but it is not the only thing keeping property prices high in Wimbledon.
Overflowing with ‘must-have’ amenities, the popular Wimbledon Village boasts nearby train stations, plenty of coffee shows, restaurants, bars, boutique shops, a Saturday Farmers Market, two theatres, and the infamous Wimbledon Common.
Even with reports suggesting London sales prices have seen a small drop, Wimbledon has held firm.
KENT GETS A LOOK IN
It is not just Wimbledon itself that reaps the rewards. With strawberries and cream going hand in hand with the tennis, Kent’s strawberries have been grabbing some of the limelight.
At last year’s tournament, over 34,000kg of strawberries from the Kent area were sold and more of the same is expected this year.
So as the likes of Serena Williams, Roger Federer and other tennis superstars take to the centre court, it seems like it is Wimbledon property market that is the real Grand Slam winner this fortnight.