Rents Rising In Wandsworth

For those landlords and tenants living in the Wandsworth area the private rental sector rose by an average of £2,377 in September 2024, an annual increase of 8.6% from £2,188 in September 2023. The average annual increase in London is higher at (9.8%), but the average monthly rent from £1,955 to £2,145 is lower for the same period.

In Wandsworth, the average rent for flats or maisonettes rose by 8.9%, while for detached properties and terraced properties, it increased by 8.0%. Average rent for one bed properties rose by 9.4%, while the average for four-or-more bed properties increased by 6.6%.The average rents by number of bedrooms for one bed flats tops the charts and given that you can rent out a flat to a professional couple with a very good income its also a safe bet.

Average rents as of September 2024 in Wandsworth were:

One bedroom: £1,743
Two bedrooms: £2,195
Three bedrooms: £2,543
Four or more bedrooms: £3,505

Average rents by property type were:

Flats and maisonettes: £2,095
Terraced properties: £2,856
Semi-detached properties: £3,061
Detached properties: £2,606

Rents are rising and the trend is set to continue given the supply-demand imbalance and that is placing upward pressure on rental values. There are also an increasing number of landlords who are selling up, in the area, due to worries over the upcoming Oct budget.

Although rental stock has increased, it remains 27% below 2019 levels, highlighting ongoing pressure on rental home availability. The average number of tenant enquiries per rental property is around 15 which is double since 2019 levels and offers are above asking price. It's not unusual to market a property in Wandsworth and get three offers from around 8 viewings.

In anticipation of potential changes to Capital Gains Tax and stricter EPC regulations, a growing number of landlords are choosing to sell their rental properties in Wandsworth & surrounding areas.

Rightmove’s data shows that 18% of homes currently on the market for sale were previously available to rent, compared to 8% in 2010.

Are you looking to rent or sell your property in today's market?

Give us a call if you have any questions on: 020 8870 5800 alternatively, if you would like to get started request a free, no obligation valuation of your property.

We cover a wide area of SW London namely: Wandsworth, Putney, Southfields, Earlsfield, Tooting, Balham, Clapham, Nine Elms, Wimbledon & Battersea. Further out towards Morden, Sutton, Wallington, Croydon & Purley also included.