Wandsworth House Prices In Q2

 What's the average house price in Wandsworth?

The second quarter (Q2) for the average house price in Wandsworth has come in at £751,729 as indicated by land registry. That's a fall of 8.40% on (Q1). And a decrease of 3.28% in the last 12 months. In terms of sales activity (Q2) had 201 total sales, flats and maisonettes contributed to the lion share of those sales at 56.72%. The sales activity in (Q1) came in at a stonking level of 968 total sales, flats and maisonettes again contributed to the lion share of those sales at 58.57%. The contrast in terms of sales is rather stark when you compare both quarters and would explain how the market started to slow down in (Q2) as sellers and buyers realised, they weren't going to beat the deadline of the stamp duty holiday which ended on the 30th of June 2021. This would by and large explain the overall average house price fall from £820,639 in (Q1) to £751,729 in (Q2). 

The desire for outside space and a larger internal area to allow for homeworking remains an integral factor for buyers when looking for a new home and there is still a big increase in the demand for houses. First Time Buyers, are also making headway under the Government’s new Mortgage Guarantee Scheme, which was introduced on 19th April and offers 95% LTV Mortgages. Wandsworth rental market has also seen signs of recovery as mentioned in our previous blog called Rents recovering in Wandsworth and overall has a better gross rental yield average 3.7% than most London boroughs.You can see from the figures above that the market was much stronger in (Q2) 2020 from the overall sales when compared to (Q2) 2021.

For any landlord or property investor looking for a buy to let, contact us and we will inform you of the best areas to invest in the area for higher yields than the current average.

Overall, it is likely that the Wandsworth sales market will slow somewhat over the remainder of 2021, the jury is out as to how the ending of Government’s furlough scheme in October will play out and certain Brexit issues remain unresolved. Prospects for the economy appear better than previously anticipated. In May, the Bank of England raised its forecast for UK economic growth in 2021 to 7.25% from February's estimate of 5.0%, which would be the fastest growth rate since 1941.

Contains HM Land Registry data © Crown copyright and database right 2020. This data is licensed under the Open Government Licence v3.0.