New Build Investor Guide – Richmond upon Thames

May 2021

Buying a new build property off plan? Check out our Area Guide first

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

Population (2018) 199,419
Forecast Population 2030 214,103


Economically Active Population

A largely young, diverse, mobile population.

Age Range Percentage of population
16 – 64 64%
Under 15 21%
Over 65 15%
Martial Status:  
Single 26%


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%
EU 7%
Other countries 16%


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)



Richmond the American International University in London
St Mary’s University Twickenham


Barnes Hospital

General Wellbeing

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%


Major Employers

In 2020, there were 40 companies in the borough employing more than 250 people and 135 companies employing between 50 and 249 people. (source:

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:

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)

Source: and


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%


Household Composition

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
Increase/Decrease  +9.8%


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)
Studio     £950 £950
1 bedroom £1,200 £1,275
2 bedrooms £1,450 £1,600
3 bedrooms £1,750 £2,000


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.

Construction PropTech Pioneer

Twickenham Gateway (Solum)

Total Number of properties 115
First launched April 2019

Visit Website

Average Prices – Twickenham Gateway

  Minimum Average Maximum
Price £475,000 £647,788 £820,000
Price per ft² £762 £850 £1,086
Area (ft²) 529 764 1,040

source: Molior

  Minimum Average Maximum
1 Bedroom £475,000 £492,500 £530,000
2 Bedroom £600,000 £666,125 £765,000
3 bedroom £750,000 £785,000 £820,000

source: Molior

Teddington Riverside (CDL)

Total Number of properties 238 (223 private)
First Launched October 2017

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Average Prices – Teddington Riverside

  Minimum Average Maximum
Price £670,000 £1,420,419 £2,368,000
Price per ft² £1,029 £1,329 £1,819
Area (ft²) 570 1,063 1,841

source: Molior

  Minimum Average Maximum
1 Bedroom £670,000 £691,000 £715,000
2 Bedroom £875,000 £1,008,333 £1,105,000
3 Bedroom £1,420,000 £1,836,438 £2,368,000

source: Molior

Richmond Square (UK & European Investments Ltd)

Total Number of apartments 71 (56 private)
First Launched November 2020

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Average Prices – Richmond Square

  Minimum Average Maximum
Price £699,000 £1,027,091 £1,600,000
Price per ft² £1,122 £1,272 £1,588
Area (ft²) 538 814 1,355

source: Molior

  Minimum Average Maximum
1 Bedroom £699,000 £711,000 £725,000
2 Bedroom £820,000 £1,171,500 £1,600,000
3 Bedroom £1,425,000 £1,425,000 £1,425,000

source: Molior

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:

Kew Palace
Hampton Court Palace
Royal Botanic Gardens Kew
Ham House and Gardens
Richmond Park
Richmond Riverside
Syon House and Park
Twickenham Stadium

Facilities in the borough include:

4 sports centres
11 libraries


Richmond upon Thames’ overground and underground stations are in Zones 3, 4, 5 and 6.

Overground Stations

Barnes North Sheen
Barnes Bridge Richmond (London)
Fulwell St Margarets (London)
Hampton (London) Strawberry Hill
Hampton Wick Teddington
Kew Gardens Twickenham
Mortlake Whitton (London)

Underground Stations

Kew Gardens (District line) Richmond (District line)

Local Government

The Labour Party

UK market report 1536x768 2 PropTech Pioneer