New Build Investor Guide – Richmond upon Thames
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Are you considering purchasing a new build, off plan property in Brent? Want to get the latest information on house prices, demographics and other useful information before you commit to a deal?
Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.
Read on for investor details specifically about Brent but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:
1 Is investing in UK residential property still worth it?
2 If so, where are the best opportunities for property investors and why?
Richmond upon Thames, London
Richmond upon Thames is one of 20 outer London boroughs and is located in south west London. Spanning just over 22 square miles, it is the 8th largest London borough by area. Covering an area north and south of the Thames, it borders the county of Surrey, the river Thames and the London boroughs Hounslow, Wandsworth and Kingston upon Thames. The major districts include Barnes, Twickenham, Richmond, Teddington and Hampton.
Richmond upon Thames’ population is forecast to grow by more than 7% by 2030
|Forecast Population 2030||214,103|
Economically Active Population
A largely young, diverse, mobile population.
|Age Range||Percentage of population|
|16 – 64||64%|
Average Life Expectancy
The average life expectancies for those born in Richmond upon Thames between 2016 and 2018 are below.
|Males||83 (UK average is 79). Males born in Richmond upon Thames have the 5th longest life expectancy of all London boroughs.|
|Females||86 (UK average is 83). Females born in Richmond upon Thames have the 4th longest life expectancy of all London boroughs.|
Population Density (2011)
Richmond upon Thames has 3,450 people per km2. Lower than the London average of 5,701 people per km2 and the 5th lowest density of all London boroughs.
International Migration (2018-19)
1,924 new residents from overseas moved to Richmond upon Thames in 2018 -2019. Twenty-seven London borough’s welcomed more new residents from overseas than Richmond upon Thames.
Country of Birth
|Location of Birth||Proportion of Population|
|UK and Ireland||77%|
Crime & Safety
|Crime Numbers (April 2017 – March 2018)||13,132|
|Crime rate per 1,000 population (April 2017 -March 2018)||67|
|Richmond upon Thames has the 6th lowest crime rate per 1,000 people of all London boroughs.|
|Primary Schools||69 (24 of which have an Ofsted rating of outstanding)|
|Secondary Schools||29 (5 of which have an Ofsted rating of outstanding)|
|Schools and Colleges (16-18 years)||22 (4 of which have an Ofsted rating of outstanding)|
|Population considering themselves in very good health||57%|
|Population considering themselves in very bad health||less than 1%|
Employment & Economy
74% of working aged people employed (compared to 75% across England 74% across London).
Top 4 Sectors of Employment
|Finance, banking and insurance||29%|
|Public administration, education and health||26%|
|Transport and communications||13%|
|Distribution, hotels and restaurants||11%|
In 2020, there were 40 companies in the borough employing more than 250 people and 135 companies employing between 50 and 249 people. (source: nomisweb.co.uk).
Jobs and Job density
Aproximately 33,926 residents of Richmond upon Thames also work in the borough. 34,527 people travel into the borough each day for work and 55,466 residents work outside the borough. The daytime population of the borough therefore decreases by 20,939 people each day. (source: data.london.gov.uk).
|Median Gross Annual Pay for full-time employee jobs (2017)||£31,365|
|Number of jobs in the borough (2019)||92,000|
|Jobs per resident||0.49 (London average 1.03 and UK average 0.87)|
|Number of residential properties in Richmond upon Thames||84,130|
Property Ownership (2018)
|own property outright (no mortgage)||31%|
|own property with mortgage||43%|
|rent from a Housing Authority or the Local Authority||8%|
|rent from a private landlord (representing approximately 15,100 private rentals)||18%|
|Households with no car or van (2011)||25%|
|One person households||33%|
|One family households||59%|
|Other (sharers / students etc)||8%|
Average House Prices
Average house prices in Richmond upon Thames are the 6th most expensive of the 32 London boroughs and the most expensive of all the 20 outer London boroughs.
|Average achieved price January 2020||£658,772|
|Average achieved price January 2021||£723,399|
Volume of Sales
During the COVID pandemic, the number of property transactions in the borough of Richmond upon Thames fell by 13%. Only six London boroughs saw smaller falls in transaction volumes than Richmond upon Thames.
|Number of residential sales to year ending September 2019||2,451|
|Number of residential sales to year ending September 2020||2,131|
Achieved Rents (January to December 2020)
Mean monthly average rents Richmond upon Thames:
|London Median Rents
(per calendar month)
|Richmond upon Thames
(per calendar month)
New Build Developments in Richmond upon Thames
There are three large new build developments in Richmond upon Thames with apartments currently available for sale. Average asking prices for these developments are set out below.
Twickenham Gateway (Solum)
|Total Number of properties||115|
|First launched||April 2019|
Average Prices – Twickenham Gateway
|Price per ft²||£762||£850||£1,086|
Teddington Riverside (CDL)
|Total Number of properties||238 (223 private)|
|First Launched||October 2017|
Average Prices – Teddington Riverside
|Price per ft²||£1,029||£1,329||£1,819|
Richmond Square (UK & European Investments Ltd)
|Total Number of apartments||71 (56 private)|
|First Launched||November 2020|
Average Prices – Richmond Square
|Price per ft²||£1,122||£1,272||£1,588|
Environment & Leisure
Richmond upon Thames attracts aproximately 4.5 million visitors a year to it’s tourist attractions, which generates an economic benefit of £469 million to the borough. Attractions include:
Hampton Court Palace
Royal Botanic Gardens Kew
Ham House and Gardens
Syon House and Park
Facilities in the borough include:
4 sports centres
Richmond upon Thames’ overground and underground stations are in Zones 3, 4, 5 and 6.
|Barnes Bridge||Richmond (London)|
|Fulwell||St Margarets (London)|
|Hampton (London)||Strawberry Hill|
|Kew Gardens (District line)||Richmond (District line)|
The Labour Party