House prices in Wandsworth increased more than any other borough in south west London in 2014, according to research by Knight Frank.
The residential research carried out by the estate agent shows that house prices in Wandsworth grew:
- by 8.8 per cent in 2014, compared to
- 8 per cent in Clapham
- 6 per cent in Barnes
- 5.8 per cent in Wimbledon
- 5.5 per cent in Chiswick
- 5 per cent in Richmond, and
- 1.2 per cent in Fulham
Knight Frank’s report said: “Wandsworth has benefitted from a growing number of buyers looking south of the River Thames due to strong price growth in prime central London since the financial crisis.”
The research says that the houses most in-demand lie between the green expanses of Wandsworth Common and Clapham Common, a major pull-factor being the good reputation of primary schools in the borough.
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Lee Layton, research analyst at Carter Jonas estate agent said: “Annual house price inflation above 4-5 per cent is a negative as it creates a boom/bust cycle which kills natural progression through the ladder, encourages speculation and damages homebuilding.”
Jason Corbett, partner of Carter Jonas, said: “Those expecting a bust in the Wandsworth property market might have a long wait on their hands as until there is some equality between supply and demand, the demand will drive up prices.”
Councillor Paul Ellis, Balham conservative and cabinet member for housing said: “The council's planning and housing policies are set to increase the borough's overall supply of affordable housing by 5,000 homes over the next decade.
“The council's wider housing strategy, the Wandsworth Housing Offer, includes a commitment to deliver a total of 18,000 new homes over the next ten years and aims to help a broad range of people achieve their housing aspirations."
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