TfL initiatives in Wandsworth to impact property prices

A significant appreciation in values of properties, including residential assets, in the Wandsworth, London is anticipated in the next few years in view of various initiatives announced by the stakeholders of the borough of Wandsworth.

The Transport for London (TfL) has announced plans to improve Wandsworth Town Centre’s street network. TfL intends to commence work in 2018 and the improvement plans will move through traffic from the high street to more appropriate areas and take the town centre’s rapid regeneration programme to the next stage. Wandsworth High Street will be made a more pleasant environment, which will encourage investment.

Bus services and stops will be reorganised to better serve passengers in the area, and they will also benefit from greater bus priority on Wandsworth High Street. Also, the realignment of Cycle Superhighway 8 to quieter roads and its extension through Wandsworth High Street, along with other cycle improvements, will better link the area to London’s rapidly growing safer cycle network.

The Wandsworth Town Centre improvement would be part-funded by TfL’s £360 million growth fund – designed to create jobs and homes by unlocking development across London with transport projects – and by Wandsworth Council through its Community Infrastructure Levy and funding secured from developments in the Town Centre.

The house price in Wandsworth is witnessing a steady growth. Wandsworth Market Commentary by Knight Frank reveals that the average house price across the borough in March 2016 was £602,144 compared to £464,467 across London. Latest Land Registry data indicates that the average price for the borough increased by 0.9%, up from £596,494. Land Registry data registered a spike in the number of transactions in 2016.