|Demand for Large Family Houses in Wandsworth Unabated|
Eight bedroom property in Spencer Park becomes area's third most expensive
Spencer Park house becomes Wandsworth's third most expensive
Recent sales in the Wandsworth area appear to indicate that sharp price rises have not diminished the demand for family houses in the area.
There was a rush to buy larger houses just before the end of the last quarter in order to avoid higher Stamp Duty rates that were due to come into effect in April.
During the last week in March there were five transactions for over £3,000,000, three of which were in the top twenty highest priced sales of all time for the SW18 area. (See table below).
The most expensive of these was an eight bedroomed house on Spencer Park which changed hands for £5,300,000 making it the third highest priced home in Wandsworth. This price may actually have been a disappointment as the same property had been marketed back in 2012 for a price of £6,500,000.
The late processing of these sales drove the average in the SW18 area well above the quarter of a million pound mark to new record highs.
On the other hand the number of flats being sold in the area remains relatively depressed despite some agents expecting a buying binge in advance of the Stamp Duty changes.
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.June 14, 2016