The common home value in London has greater than doubled within the 20 years because the Christmas favorite movie Love Really was launched, in keeping with evaluation.
Launched in 2003, Richard Curtis’s romantic comedy boasts a starry ensemble solid together with Emma Thompson, Colin Firth, Hugh Grant, Keira Knightley, Liam Neeson, Invoice Nighy, Chiwetel Ejiofor, Martine McCutcheon and Alan Rickman.
The movie follows the triumphs and tragedies of assorted characters’ love lives in a patchwork of interrelated plots.
Property agent Savills has carried out evaluation taking a look at how home costs in London usually have modified over the previous 20 years, in addition to taking a look at altering property values in some key places the place the movie was set.
In keeping with Savills’ findings, the common home value in London has surged from £278,000 in the midst of 2003 to £705,000 by the center of this yr.
Savills additionally analysed Land Registry gross sales figures to have a look at gross sales values within the yr to August 2003, in contrast with these within the yr to August 2023.
The movie recreates Downing Avenue, with Grant’s character of the prime minister seen dancing by way of the corridors of energy to the tune Bounce (For My Love).
Savills checked out how home costs within the wider St James’s ward of London have carried out over the previous 20 years.
It discovered that the common transaction worth 20 years in the past was £491,655 however by this yr it had elevated to £1,747,027.
Savills additionally checked out how home costs have modified within the West Finish ward of London, the place a marriage scene in Mayfair involving Knightley and Ejiofor’s characters takes place.
It discovered that, 20 years in the past, the common home value within the ward was £585,529.
However, in 2023, a typical dwelling purchaser within the ward would obtain little change out of £4 million, with the common home value at £3,929,524.
Charles Reducing, co-head of Savills Mayfair, stated: “For hundreds of years Mayfair has been a coveted place to stay and within the final 20 years since Love Really was filmed, the realm has continued to evolve its residential and way of life providing.”
He added: “House to numerous unique members’ golf equipment and eating places, South Audley Avenue is one in all Mayfair’s most prestigious addresses with vital homes in addition to sensible red-brick mansion blocks lining the road.
“The Grosvenor Chapel is a really particular native landmark – there are a selection of residences that are fortunate sufficient to miss it and the views are sometimes one thing patrons will touch upon given its gorgeous structure.”
Savills additionally seemed on the London ward of West Putney, a location for varsity nativity scenes.
It discovered that the common property transaction worth within the ward has jumped from £339,441 to £844,308 over the previous 20 years.
Some scenes involving Neeson’s character had been additionally filmed on benches overlooking the Thames.
Savills discovered that the common home value within the space together with the South Financial institution has elevated from £334,160 to £866,215 over the 20-year interval.
In the meantime, these with pens and items of cardboard who wish to recreate the scene the place Andrew Lincoln’s character declares his love for Knightley’s character would wish round £1.8 million to purchase a house within the space.
The common transaction worth within the ward of Colville, which takes within the space of Notting Hill the place Lincoln’s character professes his love by way of playing cards and carols, has elevated from £542,140 to £1,870,682.
Mark Redfern, head of Savills Notting Hill, stated: “All through the 2000s, the profile of the realm was raised vastly following the discharge of Notting Hill and Love Really.
“In my early profession, it was an everyday prevalence to be stopped to provide instructions to numerous native filming places – together with St Luke’s Mews.
“St Luke’s itself is one in all London’s most photogenic mews streets; pastel in color and with window containers in full bloom, the properties are really charming.
“Homes right here hardly ever come to the market and after they do, will obtain vital curiosity, significantly amongst downsizers searching for a lock-up-and-leave or these searching for a London base.
“Notting Hill has at all times had such an exquisite sense of group which is why the realm stays fashionable with all varieties of patrons, from younger {couples} to native and worldwide households searching for a house on one of many backyard squares.
“Along with artists, musicians and creatives, over the past 20 years there was an increase in these shopping for right here throughout the tech, banking, hedge fund and regulation industries as Notting Hill has cemented its place as a key central London location for each native and world patrons.”