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Fulham is on the up, again. Over the next decade, new riverside developments will bring 13,000 new homes to the area. A junior school outpost of the prestigious Lycée Français Charles de Gaulle legitimises a move for those looking to raise children in the best that London has to offer. A new station in Imperial Wharf and the regeneration of Fulham Broadway, high-end shops and cafes; all of these are contributing factors to Fulham’s rise from its position as Chelsea’s suburb to major London player.

The riverside developments in Sands End and Fulham’s 460-apartment Riverside build between Chelsea Harbour and Hurlingham Park offer options for all price ranges, with one-bed apartments from £510,000, rising to £1.45m for a three bed, and £5m plus for a penthouse.

But these new builds will likely attract a largely foreign market, with investors from China and the Middle East leading the pack. As an example of this trend 75% of the units in the Battersea Power Station development were reserved by Asian investors in the first week.

For many London residents, however, it’s Fulham’s Victorian terraces that still have the most appeal. From the famous Peterborough Estate, to one and two-bed garden flats in Sands End across the road from the new development, and ‘The Villes’ off Homestead Road, these are the properties that are beloved by the families who are flocking to Fulham, Parsons Green and the surrounding areas.

Demand, as ever, remains significantly higher than supply across all price brackets. But there are still plenty of excellent properties available for those who want to upgrade, or for newcomers who want to make SW6 their new home. So whatever your price range, how much bang will you get for your buck? Let’s find out.

What can I do with £500,000?
As amazing as it sounds, if you’re in the market for a one-bed first time buy around this price, get ready for a fight, or be willing to compromise. As with any property, when you’re on a budget, it will come down to location vs. space, and to get something really nice, we would suggest moving a little further out from the Parsons Green area (the epicenter of price hikes). A good-sized one-bed flat – around 550-600 sq ft – in the right mansion block will be £60-70 thousand less than a similar property in a more central location. If you’re willing to buy off the Fulham Road, you’ll get a lot more in terms of space, and still be in a great period build, in a safe area with transport links just 10 minutes away. A two-bed on Stephendale Road, for example, would be around £550,000, and there’s also scope on streets coming off the north end of Munster Road such as Bronsart, Rowallan and Allestree. However, as we’ve said previously, these are rare and incredibly desirable, so get ready for a scrap.

What is my £750,000 worth?
That extra £250,000 buys you a great deal of breathing room when buying in SW6. With this kind of money you can start looking in the increasingly popular Sands End area, and more specifically, the ‘Bury triangle’ (where all roads end in ‘bury’), including Hazlebury, Cranbury and Rosebury roads, all of which are the places to buy in Fulham at the moment. The combination of size, aesthetics, location and atmosphere make them seriously desirable for young families - a decent two-three bed (depending on layout) will be spot on budget between £650,000 and £800,000. Depending on location, in these price ranges you’ll be buying a property at anything between 600 and 1,100 sq ft. Your £750k still won’t buy you a place in the coveted Parsons Green, sadly, but the flats on Felden Street and Clonmel Road are very appealing and at a squeeze one could argue that they’re Parsons Green territory. Fancy a gamble? Queens Club Gardens, an idyllic Victorian mansion block (with private gardens) in Barons Court or West Brompton are both on their way up.

And a budget of £1,000,000?
The range of properties in Fulham available at this budget is wide and varied. From a split level flat on Crookham road (yes a £1m flat), to that rarest of breeds – a (small) three-bedroom freehold house – there are plenty of strong choices in this bracket although a Victorian terrace house will be beyond reach. You’ll be buying around 1,300 sq ft and you’ll be looking at properties in the always-desirable heart of Parson Green, with it’s leafy streets and well stocked delis. Or a river view in the Imperial Wharf developments could be yours for this price, unless you plump for something in the Moore Park estate, which will put you within spitting distance of Chelsea, not that that kind of behavior would be tolerated.

“which will put you within spitting distance of Chelsea, not that that kind of behavior would be tolerated.”

If you want a bit more space, however, start looking at the split-level maisonettes around Wardo Avenue and Danehurst Street. And if you want something a little more modern, there was a recent sale on Elbe Street of a modern three bed, with 1200 sq ft of space and underground parking. It’s a little further from the action, but you still have Imperial Wharf station at your doorstep, and you’ll be buying in an area that in our opinion, is about to rocket.

How about £1.5 million?
Not so long ago you’d have had your pick of Victorian terraced houses on all but some roads across Fulham, however with the recent price hikes, incredibly, we’re going to be back in the ‘Bury Triangle’. This is where you’ll get a really good sized – 2000 sq ft – well appointed and pretty house. Expect a fluctuation in this price range – similar properties off the Munster Road on Gowan Avenue have seen prices increase to £1.6m to £1.7m over the last six months – but on the whole, there is a large range of excellent properties in this bracket and although £1.5m should still have the clout you would expect, you’ll need to be faster and more open to risk to pick up a real bargain. These properties will be well finished, but if you’re looking for a challenge, with this kind of money you could even look off the King’s Road. One recently listed property in that area had a price of £1.75m, but due to the work required, will likely fetch around £1.5m. A much needed loft and side extension would set you back around £200,000 for a quality job. And throw another £300,000 on top of that if you start thinking about basements. A good investment, but a costly one, in the short term anyway.

Or £2m to £2.5m?
It’s time to start asking yourself some serious questions when you get to this end of the market. If you have, say, £1.7 million to spend on a property, should you be looking at houses up to £2 million?

Perhaps, but people only do this under the proviso that their agents will be able to negotiate down to £1.8m or £1.9m - not a common practice for sellers in this market in this price bracket. This is also, strangely, where you need to start thinking about size vs location again. When spending £2m, you can easily lose 1000sq ft by moving closer to Parsons Green, so it’s really in your interest to start looking ever so slightly further afield. There’s a selection of roads between Clonmel Road and Felden Street (mentioned earlier), for example, that run north of the Fulham Road and south of the Bishops Road, all of them lined with excellent houses. If you have the money, and your skates on, in our opinion there are few addresses more desirable than Clonmel Road at the moment with its good balance between size and location. Generally these houses are extended to the side and the loft but not into the basement (yet). Before development, expect around 1300-1500 sq ft of space, but once they’ve been extended, they’re anything from 1800 to 2200 sq ft. Adding a basement extension as well will add approximately another 800 sq ft or so... and another million to the budget, of course.

And £3m to £4m?
Remarkably, at this price, you’re still going to have to make some tough decisions along the way. Of course you’ll be buying a spectacular property at the top of the Fulham ladder, but there are some variations in what you’ll get, mostly due to the comparatively small number of houses that warrant this kind of price tag. The legendary Peterborough Estate is home to many of the largest houses in SW6, with an average of 1,300-2000 sq ft before renovation. However, you will pay the price for the combination of size, location (being right by Parsons Green itself) and reputation, with a price guide of between £3.0m and £4.5m being the norm. With an increasing number of these properties featuring fully extended basements that run the length of the garden and include airy 3m ceiling heights, the prices in this area are unlikely to fall. Outside of the Peterborough Estate, there are around 30-40 houses in the SW6 area that are the same or larger than those we’ve just spoken about, and there are always a selection on the market – usually around 15 or 20 at any one time. However provided they’re priced correctly they either fly or sit ashamedly on the market with only a small number of buyers looking in the price bracket at any one time. Be ready to act quickly and do that impromptu viewing at the inconvenient time for property fresh to the market.

Buyers Beware
Whatever your price-range, do your research thoroughly. Buy on a road with a good reputation, solid prices and of course,

“that gut feeling that lets you know this can be your new home
– it’s rarely wrong.”

Fulham property is in a state of flux at the moment, with some people staying put and others cashing out. One thing’s for sure though, there are a lot of great, great opportunities at the moment and we suspect this will continue for the next five to ten years as the area becomes further gentrified and catches up with prices in the better known ‘brand names’ such as Chelsea, Notting Hill and Kensington.

Homeowners are often surprised at the growth in Fulham, and if you start to see 10 - 15% increases on your property over 18 months, you’ll probably start thinking twice about selling. As for the people who are up-scaling, they’re ultimately aiming for the Peterborough Estate, making their existing properties available or jumping out of the game altogether and settling for a lavish country property. And what about the long term residents of Fulham that have watched Fulham’s spectacular growth out of the dark, into the bright lights and resisted selling to-date – well we can all be sure they’ll certainly retire in style.

Words:
Josh Woodfin in conversation with James Sims / MIke Horne