Two new Underground stations opened this week – Nine Elms and Battersea Power Station.
But while the areas feature lots of new housing for London, people looking to move to there and jump on the Tube’s extended Northern Line will pay a hefty price tag.
The average price of a house in Nine Elms is £726,131, according to Zoopla, but they have got cheaper. This is a drop of more than 6 per cent on a year ago, the equivalent of £50,000.
But that average price doubles to £1,501,091 once you narrow a buyer’s search area from the wider area to just the Nine Elms site, which is the new housing development just south of the River Thames.
And there’s the opportunity to spend much more – among the three homes we found below in the location was a flat in Battersea Power Station for £16million
Billions of pounds of investment have been pumped into the area in recent years, including through the redevelopment of Battersea Power Station.
The decommissioned coal-fired power station is now luxury flats and penthouses -while there has also been the building of a new US Embassy in Nine Elms.
Despite the recent falls in average house prices near the stations, property experts suggest that values will rise, at least in the surrounding areas.
Buying agent Henry Pryor said: ‘While some might expect the new stations to be full of people fleeing the Nightmare on Nine Elms Street, these new infrastructure nodes are really going to give the area a genuine lift.
‘Lower Chelsea and the area around Battersea Park may well see prices bumped up by as much as 10 per cent, even if many buyers in SW11 thought that they were high enough.’
We take a look at three properties for sale at Battersea Power Station and Nine Elms
1. Two-bed flat, Battersea Power Station, £1.15m
This luxury two-bedroom flat is in the redeveloped Battersea Power Station and has an asking price of £1.15m.
It has an open-plan living area with a fully-fitted kitchen and a large private balcony.
Residents have access to a library, private cinema, communal gardens, a gym, swimming pool and a concierge service. The flat is being sold via estate agents Martin & Co.
2. Six-bed penthouse, Battersea Power Station, £16m
This luxury penthouse is on the eleventh and twelfth floors of Battersea Power Station, with views across the River Thames and the capital.
It has six bedrooms, seven bathrooms, a roof terrace and two parking spaces.
You’ll need deep pockets to buy it due to its £16million price tag. It is being sold by estate agents Copperstones.
3. Three-bedroom flat, Nine Elms, £3.95m
This flat is in the Ambassador Building in Nine Elms at the Embassy Gardens development – home to the Sky Pool.
It is three bedrooms, walnut parquet flooring, marble work surfaces and floor to ceiling windows.
It has an asking price of £3.95m and is being sold via estate agents Johns & Co.Internet Explorer Channel Network