It has been predicted that within the next decade, the area of Wandsworth will see more houses being built than in any other London borough. Already famously known for its low council tax, there is now a huge demand for more properties and places to rent between the commons.
Last year, the area saw its first buyers put their money into the Battersea Power Station riverside district; shortly after the new waterfront quarter in the momentous heart of Wandsworth town centre was unveiled. This opened the doors for big property opportunities and investments in SW18.
Wandsworth in the past used to be predominantly a family-orientated district within a closely-knit community, but regeneration sees it adding a whole new layer of properties and developments which changes the character of the area.
Future plans hope to introduce modern apartment blocks along with a boulevard filled with bars, restaurants, and shops running alongside the River Wandle, which itself is an attraction that draws many visitors, and has added three new pedestrian bridges. These new attractions for the locals and visitors can only mean that the population of Wandsworth is anticipated to further increase. Additionally, it’s predicted that by 2018 TFL has plans to build two new stations on the Northern Line at Wandsworth and Nine Elms due to the up rise of residents in the area, which are both still upcoming areas, as well as talks of expanding the station at Clapham Junction.
Rent prices in Wandsworth
Typically, prices in Wandsworth range from £1,300-3,000 pcm depending on the type of property you let. Here is a better estimation and overview of average prices to rent flats and houses in the area, according to Zoopla:
One-bedroom flat: £1,355 a month
Two-bedroom flat: £1,885 a month
Two-bedroom house: £1,857 a month
Three-bedroom house: £2,193 a month
Four-bedroom house: £3,305 a month
Many of the new expansions in Wandsworth run beside the old riverside industrial belt, where Battersea Reach is the largest development. In five years’ time, it is predicted that 1,350 homes in 16 new blocks will be built, with 330 being labelled ‘affordable.’ The latest idea from the borough to go on sale in Wandsworth off-plan is The Pinnacle- a 15-storey block of 88 flats with the option of one, two, or three bedrooms. This development also plans to include four-bedroom penthouses which is due to be completed and available to buyers in 2017. The prices are estimated to range from £850,000 to £7 million for these.
Why are families moving to Wandsworth?
According to local estate agencies such as Castle Estates (South London), the majority of people who are moving to the area are families. They migrate from north of the river in order to get houses with larger gardens and lots of surrounding green space for their children to enjoy. As well as this, it’s important for families to ensure that they move to a place that is in a good catchment district to be sure that their kids get accepted into a valued school, with a number of public and private ones to choose from. Another reason Wandsworth attracts families is that it’s a very popular family-orientated area, with a great community and togetherness to it.
There are also international buyers from Italy and France to add to the diversity of bankers and entrepreneurs. SW18 is also a known area where downsizing parents invest in flats and houses and for their children to have in the future.
From all that Wandsworth and the SW18 area has to offer, it’s no wonder buyers are investing their money into properties. With great family life, new builds, and even more planned developments and refurbishments from now until the future decade, investors seem to be getting a lot more value for their money than they would in other boroughs across London.