Property Trends & Developments in Wandsworth
Known fondly as ‘The Brighter Borough,’ Wandsworth is a trendy, leafy community that boasts the kind of lifestyle and housing that attracts young and old alike. According to a 2018 census, Wandsworth’s local population sat at a whopping total of 324 000 residents. Fortunately, the property market in ‘The Brighter Borough’ has been keeping up!
Property development is booming, with 2,336 new homes built in Wandsworth between April 2017 and March 2018, and no signs of it slowing down anytime soon. Wandsworth’s residents are relatively youthful, with an average age of 34.5 (according to a 2011 census) – but it’s not just young, prospective investment property buyers that flock to Wandsworth – people of all ages are looking to buy property in the area.
Why Buy Property in Wandsworth?
There are many reasons why Wandsworth is so popular. If you’re looking at buying a house in a lovely area, or want to buy-to-let an investment property with great potential for returns, you need to know why Wandsworth will be great for you or your potential tenants to live in:
Fantastic for families
Although it’s inner London’s biggest borough, Wandsworth maintains an intimate village-like community atmosphere. This could largely be attributed to its plethora of green spaces and parks, which include the Wandsworth, Putney, Clapham and Tooting Commons, and Battersea Park. Aside from these lovely areas for children to frolic and families to picnic in, Battersea Park boasts a Children’s Zoo, adventure playground, a boating pond and riverside promenade.
It’s not just leisure that makes Wandsworth a favourite for child-rearing: there are also many excellent schools in the borough – plenty of which are Ofsted-ranked schools – from nursery schools right up to colleges.
Despite the increase in new developments in the form of modern high rise apartments, there are still plenty of family-friendly homes in Wandsworth. Due to its rising popularity in the 1800s and early 1900s, Wandsworth is renowned for its charming Victorian and Edwardian homes, some of which have their own gardens for little ones to play in.
With all these attributes, it’s easy to see why so many young families live in Wandsworth – which is why it’s earned its nickname ‘Nappy Valley’.
Promising for young professionals
When looking for property for sale, people want to either work close to home, or have a manageable, short commute to and from work. For the former, Wandsworth has a huge drawcard: According to a Labour Market study in 2018, over 80% of residents have jobs in Wandsworth, with the average yearly income reported to be higher than people living in London and the rest of the UK. As of 2017, there were over 20 095 businesses active in Wandsworth – and more are set to open. A recently launched regeneration project in Wandsworth Town will see around 850 new job openings cropping up, bringing exciting new business opportunities to an already booming borough.
Wandsworth also caters for those who already have gainful employment in London or outlying areas. The borough is home to Clapham Station, the country’s busiest railway station, and plenty of underground and overground stations that carry commuters to various areas of greater London with ease and efficiency.
A lifestyle of leisure
According to a Rightmove survey seeking London’s ‘happiest boroughs, Wandsworth came out in the top 5. The study measured lifestyle attributes such as transport, amount of green spaces, the friendliness of neighbours, safety, local community spirit, and sporting facilities.
In Wandsworth, there’s something for everyone.
Foodies will find an abundance of award-winning restaurants, farmers markets, and plenty of butcheries and bakeries. For bountiful browsing and thrift finds, the Tooting Market and nearby Broadway Market are two of London’s oldest covered markets.
For a simple stroll, you’re in for a treat – amble along miles of riverfront and sightsee on the Thames Path. Visit one of the many green belts, parks, walking trails and kiddies’ playgrounds and petting zoos.
Feel like a coffee? Visit a cute cafe surrounded by tree-lined streets. Fancy a pint? Visit one of many gastro pubs or visit a live-music venue for a crisp cocktail.
Fashionistas and mums looking to kit their kids out as they grow up will find endless options in the way of designer shops, clothing stores and ‘high street’ fashion on almost every corner.
New Property For Sale in Wandsworth
As a result of all Wandsworth’s lifestyle perks, new property is being developed at unprecedented rates. According to a Homes and Property forecast, there will be more new homes constructed in Wandsworth between now and 2024, than in any other borough in London.
Many of these new developments are high rise, luxury apartment buildings – such as the Bronze apartment building, developed by Strawberry Star Group. As with the Bronze, the new developments cropping up in Wandsworth are modern, centrally-located, and come with all the amenities one could want when looking to buy property to live in, or buy an investment property to let out. It’s this, coupled with its sought-after location, that has made Wandsworth so attractive for first-time buyers.
Although luxury living at its finest, and in a beautiful leafy, green area, these new developments come without the central London price tag. The average property price in Wandsworth is significantly lower than in areas such as Kensington and Chelsea. Furthermore, Wandsworth’s council tax is reported to be the second lowest in the whole of London.
These attainable price tags, coupled with the transport links and plentiful employment opportunities, have enticed young professionals in particular to forgo pricey London city apartments, and look for property for sale in Wandsworth.
When it comes to rentals, Wandsworth doesn’t disappoint either. According to a Foxtons.co.uk report, the average rental price in Wandsworth is £457 per week, which is lower than the London average of £634 per week, but climbing steadily as the area becomes better known as a prime real estate location.
It’s clear that the location, lifestyle, quality of living and abundance of work opportunities and transportation links make Wandsworth a prime location for owner-occupied or buy-to-let property purchases. If you want to get in on the Wandsworth property market, whether in a new development that is the epitome of luxury, or an older, more traditional home to raise your family in, or simply want to know how to invest in property that will see you maximise returns, you need the very best estate agents in London to help you find your dream home. Contact Strawberry Star today