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:
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
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.