Rents Rising In Wandsworth

Private rents in Wandsworth rose to an average of £2,377 in September 2024, an annual increase of 8.6% from £2,188 in September 2023. This was lower than the rise in London (9.8%) over the year. Across London, the average monthly rent was £2,145, up from £1,955 a year earlier.

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.

By how many bedrooms there are in a property, 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

Taking the data instead by property type, average rents 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 if yes why not contact us to find out more?

Covering 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.