“First-time buyers in our market are… - Knight Frank

WANDSWORTH
AND CLAPHAM
market overview
The level of activity in Wandsworth and Clapham
has been very positive so far this year. We are
selling properties at prices in keeping with the
record levels established by Knight Frank at
the peak of the market in 2007 and even above
in some cases. Super-prime properties have
commanded over £1,000 per sq ft.
The area has proven to be most resilient, underpinned by some
solid fundamental draws including the wide open spaces of
“The biggest new trend in our market is…
…people avoiding a ‘double move’ by thinking ahead and buying a house they are not
going to outgrow too quickly.
Wandsworth
and clapham
BY NUMBERS *
On average we have achieved 97.4% of the guide
price on sales in the past 12 months
We have 300 potential buyers on our books looking
to spend a collective total of £663.3m
Knight Frank Wandsworth’s online property †
listings are viewed 363 times a day through
our award-winning website KnightFrank.co.uk/
Wandsworth
We hold the record for the highest amount paid per
sq ft in the area, at £1,116 per sq ft
*figures relate to the 12 months to March 2011 unless otherwise stated
† for sale
28 LOCAL VIEW
Age of our buyers
30s 50%
40s 38%
50s 5%
60s 7%
“First-time buyers in our market are…
…cautious, as you might expect. But central London
property will continue to be an excellent mid- to
long-term investment.
”
Wandsworth, Clapham and Tooting Commons, the excellent
state and private schools, amenities for young families, a host
of sports clubs and fantastic transport links.
While the area continues to flourish as a whole, streets and
locations that remain top choices for our
local, national and international buyers
include: the Toast Rack, Clapham Old Town,
Heaver Estate, Nightingale Triangle, between
the Commons, Abbeville Village, The
Wandles, Westover Road, Magdalen Estate,
Bellevue Village, Elsynge Road, Spencer
Road and Spencer Park.
”
Our Team in action
We were instructed to sell a five–bedroom family house on
Nightingale Triangle and very quickly identified some suitable
buyers who were already registered with us. The buyers were
looking to upsize in the area, and this was a relatively complicated
scenario as there were four houses in this particular chain, and our
experienced negotiators played an important role in coordinating
the different completion dates. The outcome was a good one for all
involved - the client achieved a record sale for the street following a
competitive bidding situation and the buyer secured a great family
house that will no doubt produce a premium when they come to sell.
“
The most exciting emerging hotspots in our area are…
…Lyford Road SW18 and the Magdalen Estate.
”
Often
overlooked in the past, these areas now boast record sales.
Sales by price band
Office Head – Sales
Luke Pender-Cudlip
£500k to £750k 7%
£750k to £1m 18%
£1m to £1.5m 31%
£1.5m to £3m 37%
£3m+ 7%
“
Our typical buyers are…
…families requiring five-bedroom houses.
Predominantly British but also French, Italian,
American, South African and Australian.
”