London’s ‘happiest place to reside’ however households in ‘broom cabinet’ measurement houses are transferring out

London’s ‘happiest place to live’ but families in ‘broom cupboard’ size homes are moving out

South West London residents living in the borough named the happiest place to live in London have branded it a “playground of the wealthy” as young families either have to live in a home the size of a “broom cupboard” or move out. Long-term locals are being priced out and independent shops struggling to break even.

Richmond ranked 11th in Rightmove’s Happy at Home Index 2022 – the only area in London to feature in the top 20 list of UK towns and cities. To live in a borough with such a title comes with a premium. Homes in Richmond sold on average price for £1,040,145 over the last year, according to Rightmove.

The majority of sales in Richmond during the last year were flats, selling for an average price of £547,221. Terraced properties sold for an average of £1,083,418, with semi-detached properties fetching £1,652,382. Overall, sold prices in Richmond over the last year were one per cent down on the previous year and five per cent up on the 2020 peak of £990,443.

READ MORE: Posh London garden centre warns it could close if its restaurant can’t open in evenings

Tony Khatchik said homes on the outskirts of Richmond which were affordable have tripled in price(Image: Charlotte Lillywhite)

But Guy Chance, 69, told the Local Democracy Reporting Service he moved to Acton to “get a better place” after living in Richmond for 10 years. He said Richmond is “great fun for youngsters, all the things they can do on the social side, it’s a buzzy place to live” but that “young families either live in a broom cupboard or move out”.

He said: “It’s ironic because I moved further in but Acton’s slightly cheaper than Richmond.”

Tony Khatchik has run children’s shop The Toy Station in Richmond for 27 years and said it’s “quietening down” for businesses as families spend more time at home working and shopping online, going out to eat and drink instead – with the number of restaurants “quadrupling” in the last three decades. He said families don’t have much cash to spend because mortgages and prices are so high.

London 365 – Richmond

(Image: Charlotte Lillywhite)

MyLondon visited Richmond as part of our London365 project, where our reporters will be visiting a different part of our great city every day in 2023.

Ever wondered what it’s like to live in the part of London furthest from a Tube station? Or in the shadow of one of the world’s busiest airports? How is gentrification impacting some of London’s neighbourhoods hardest hit by the cost of living crisis?

From Brent to Bromley, Hillingdon to Havering, and everywhere in between, the MyLondon team will explore the biggest issues facing Londoners, while celebrating every part of the capital this year.

Where should we go next? Email [email protected]. To see all the other neighbourhoods we have visited in 2023, click here.

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