Wandsworth Property Prices Down So Far This Year

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Although apartment and terraced houses sales remain strong

Property prices across Wandsworth were down in the first quarter of 2017 compared to the record levels reached last year. The average sale price in the SW18 post code area so far this year is £723,976.

The number of transactions at the top end of the market appears to have declined in the first quarter of 2017, although some of the larger house sales are still to appear on the Land Registry database.

Average prices of flats in the East Hill and Earlsfield areas particularly, also displayed a downward trend in the first quarter of 2017. However the number of actual flat sales across the whole SW18 area was greater than in the last quarter of 2016, with 109 sales recorded against last quarter's 81. Increased sales volumes may account for the overall average flat price sale coming in a nearly £10,000 less than in October-December 2016.

Wandsworth still ranks in the top five of London's most expensive boroughs according to the global property news service, Property Wire. They quote that an annual price rise of 3.3% in 2016 was largely due to an "exceptionally strong December".

Simon Rubinsohn, RICS Chief Economist sees the lettings market as being stronger than the sales side. He said, "It is noticeable that the amount of new rental instructions coming through to agents is continuing to edge lower, which is not altogether surprising given the changing landscape for buy-to-let investors. One consequence of this is that rents are expected to continue rising not just in the near term but also further out and at a faster pace than house prices."

During March 2017 London was the worst performing region of the country according to the Land Registry with prices falling by 1.5% from the previous month to £471,742. Over the course of the last twelve months prices have risen by 1.5%.

For England as a whole prices are up by 4.4% in the year to March rising to an average of £232,530.

The number of completed house sales in London in January, the latest month for which figures are available, fell by 26.3% to 5,968 compared with 8,093 in January 2016.

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

If your agent is claiming to be marketing your property effectively and it doesn't appear on WandsworthSW18.com it may be time to choose a new agent.

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

Property Prices in Wandsworth SW18 (January - March 2017)
Area	Detached	Sales	Semi-det	Sales	Terraced	Sales	Flat/ mais	Sales	Overall average	Total sales
SW18 1	0	0	1966000	1	1162500	7	701912	33	811380	41
SW18 2	0	0	0	0	1182929	7	466469	16	684522	23
SW18 3	1230000	1	1638000	3	928750	12	476075	20	744736	36
SW18 4	0	0	860000	1	852642	9	491541	32	577693	42
SW18 5	1350000	1	1485000	1	882456	18	534062	8	821133	28
Total	1290000	2	1537500	6	964547	53	551834	109	723976	170
Change in quarter	-21.8%	0.0%	-22.3%	-60.0%	-8.1%	3.9%	-11.2%	-29.2%	-11.8%	-23.4%
Change in year	-72.6%	0.0%	-24.6%	-50.0%	-8.8%	-50.5%	-13.0%	-66.8%	-8.5%	-62.1%
Change in three years	31.0%	0.0%	1.7%	-40.0%	2.0%	-20.9%	7.0%	-54.4%	13.1%	-46.5%
Change in five years	47.4%	100.0%	41.1%	-62.5%	34.6%	-38.4%	60.4%	-47.3%	48.5%	-45.2%
Change in ten years	-18.2%	-33.3%	56.6%	-79.3%	64.4%	-56.9%	68.2%	-66.7%	64.1%	-64.7%

 

Copyright notice: All figures in this article are based on data released by the Land Registry(© Crown copyright 2017). The numbers are derived from analysis performed by wandsworthsw18.com. Any use of these numbers should jointly attribute the Land Registry and wandsworthsw18.com.

May 16, 2017