Latest Wandsworth Property Sales

Home prices in SW18 fall from historic highs

Property prices in the Wandsworth area appear to have fallen back from peak levels according to the latest official data. Local estate agents are reporting a fall in the number of actual house sales from a 2012 high in June and July. September sales were reported to be about a third down from this level. However average prices achieved this autumn did move back towards levels seen in the Spring of 2011.

Liz Colvin-Scott of Jacksons Estate Agents in Old York Road said: The property market is not something that is black or white. A number of factors come into the equation when dealing with the property market and the reports from Land registry.

"The Land Registry publishes quarterly reports on property prices in the UK. By the time these figures are released the market has moved on (sometimes for the better & sometimes for the worst).

"The market is seasonal and depends on the time of year. December tends to be quiet, due to the festive holidays. The market then picks up and from January to March you will see a flurry of activity and an increase in prices. Easter again tends to be quieter (the first Bank holiday since Christmas) as people take advantage and go away."

During the fourth quarter of 2012, 128 residential properties in the SW18 post code have been reported to the Land Registry so far as sold at an average price of £525,429. This is down on early 2011 when prices had been averaging close to £600,000.
Eight of those properties sold for over £1,000,000, with the most expensive of those being on Henderson Road which changed hands for £2,925,000. This is the twentieth most expensive home ever sold in SW18.

However the attractions of living in Wandsworth remain undiminished. "The demand for properties in Wandsworth keeps growing year on year," said Liz Colvin-Scott.

"With low council tax, good transport links, leisure facilities, the green open spaces of the common’s and the numerous parks, great schools and other amenities, buyers are attracted to the area, as it has so much to offer.

"The continuing re-development of Southside shopping centre, the potential Brewery re-development scheme, the on-going riverside developments at Riverside Quarter, Buckhold Road development `The Filaments’ and the potential development site on Eltringham Street shows that huge amounts of money are being invested in the Wandsworth and within the borough with the regeneration of Nine Elms. All of this will attract more & more buyers to the area.

"Every year I get asked `What do you think that the property market will do this year?’
I think that will see an increase in Wandsworth. As the demand for property in certain areas grows and the number of available properties falls, it will be inevitable that we will see increase in prices. We are already seeing some properties receiving multiply offers and going to `Best & Final Bids’."

The November data from Land Registry's flagship House Price Index shows an annual price increase of 0.9 per cent which takes the average property value in England and Wales to £161,490. The monthly change from October to November is an increase of 0.3 per cent. London continues to be the strongest area of the country in price terms with an increase of 5.9 per cent.The most up-to-date figures available show that during September 2012, the number of completed house sales in England and Wales decreased by 21 per cent to 50,517 compared with 63,552 in September 2011.The number of properties sold in England and Wales for over £1 million in September 2012 decreased by 19 per cent to 613 from 753 in September 2011. The latest reported sales are given in the table below.

The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.

Copyright notice: All figures in this article are based on data released by the Land Registry. The numbers are derived from analysis performed by wandsworthsw18.com. Any use of these numbers should jointly attribute the Land Registry and wandsworthsw18.com.

January 21, 2013