What are the prospects for house prices in Wandsworth?

02-07-18
What are the prospects for house prices in Wandsworth? What are the prospects for house prices in Wandsworth? What caused the London house price fall in 2017 What happened to Wandsworth house prices in 2017 What factors makes Wandsworth stand out from the crowd What is the future for house selling prices in Wandsworth the property market mood has change in London

The prospects for house prices in Wandsworth are healthy and is driven by the a combination of job prospects, desirable properties and good transport links.

The trend in London is that of prices falling and under pressure so how will Wandsworth fare in the future?

What caused the London house price fall in 2017

House prices in London showed a fall by as much as 15% in some parts of London in 2017.  A better overall measure for London prices is that overall prices fell 2.6% over 2017 (Source : The Guardian)The factors causing this drop are well known and include Brexit uncertainty and the large increase in Stamp Duty ( including second homes)

What happened to Wandsworth house prices in 2017

House sales in Wandsworth in last 12 month achieved an average price of £742,454 which showed a small fall of 3.75% over the previous 12 months ( Source: Zoopla). But this needs to be considered against the price trends over a longer period. Wandsworth in actual fact has increased house prices of 15% compared to 2015 ( Source Rightmove) so the overall trend is very encouraging.

What  factors makes Wandsworth stand out from the crowd

Wandsworth stands out because of a number of key factors:

  • Jobs-Job prospects are looking good and this has been encouraged by developments like the Nine Elms re-development which should create around 22,000 construction jobs and 25,000 permanent jobs. Nine Elms used to be a painful feature to look at but will become something beautiful with a large work force.
  • Victorian Terraces-The presence of a large stock of beautiful Victorian house has created the aura of style and the place to live, which helps maintain the value of properties. To support this the council has controlled the amount of terraced house conversions into flats and this has also helped to maintain a positive image of Wandsworth.
  • Transport-Wandsworth Town train station is a on the main line into London Waterloo and only takes under 20 minutes (fastest train is about 15 minutes). You can easily change at Clapham Junction to get the train to Victoria station.

What is the future for house selling prices in Wandsworth

There is no doubt that the property market mood has change in London in the past year and that prices will probably remain under pressure for some time. Having said that the prospects for Wandsworth going forward look very encouraging because of all the factors highlighted in the blog above

Share this content

About the author

Will Clark

Send message View profile

Managing Director of revolutionary online estate agency MyHomeGroup Ltd (SellMyHome, RentMyHome & ManageMyHome), Will Clark is a highly regarded property professional with 11 years’ experience in the industry.

After graduating from Edinburgh University, and armed with an MA in Property Valuation and Law from Cass Business School, Clark, started his career with Knight Frank LLP as a Graduate Trainee Surveyor in 2007. Clark qualified as a RICS chartered surveyor in 2009, before taking on a role as Sales Negotiator in Knight Frank’s Marylebone branch. Following this, he spent a year as an investment manager at bespoke search and development company Banda Property, before founding MyHomeGroup Ltd in 2013.

Clark’s wealth of experience in the residential property market, and his invaluable insight into the role of a traditional estate agent, makes him uniquely qualified to steer the sector into its online phase. Having been involved in the transaction of over £40 million of London property before starting SellMyHome.co.uk, Clark has since overseen £650 million of sales since the launch of the site.

Comments

There are no comments. Join now to add a comment. Click to Join

Back to top









About us - Terms of use - Privacy policy - Pay






>