Located in the London Borough of Merton and surrounded by parks and good transport links, Raynes Park is quickly growing in demand among investors. Until recently, the area had gone under everyone’s radar, however as people increasingly look further afield for new locations, areas like Raynes Park are becoming hotspots for buyers and tenants alike.
With many parks and green open spaces and a vibrant high street with local, independent stores as well as some high end brands too, Raynes Park residents are able to enjoy many amenities. The area also offers excellent transport links and a good selection of schools for all ages, such as Wimbledon High School, Hollymount Primary School and Raynes Park High School. As a result, it has become a very family driven market, however with recent regeneration in the town and surrounding areas, coupled with increased rental prices throughout London, we’ve seen an influx in young professionals flocking to the area as well. It is just one stop to Wimbledon, three to Clapham Junction and five stops to London Waterloo, providing rail links to just about anywhere, which is a huge motivator for these markets, while access to the A3 and the Surrey countryside is ideal. We’ve subsequently seen a 47% increase in the number of tenants registering with us in the last six months.
With interest rates remaining low, people are once again investing their money in property, which has led to a noticeable rise in investment purchases. This has resulted in a knock on effect in lettings, so naturally with demand increasing we’ve begun to see rental values climb as well. As buy to let landlords realise the investment potential of Raynes Park. A number of plans are in motion to help regenerate the region and a host of upgrades are planned for neighbouring stations, such as Motspur Park, New Malden and Worcester Park. I am certain that over the next few years we will see these towns turn into rental landmarks, encouraged by the overspill from Wimbledon and Kingston.
One and two bedroom flats tend to be the most popular, predominantly among young professionals and couples who account for 42% of our applicants. Typically, prices range from around £1,100 to £1,200 per month for a one bedroom flat to £1,300 to 1,500 per month for a two bedroom flat; to anywhere between £1,800 to £3,000 per month as an average for a four bedroom family house. Properties which are situated nearer to the Raynes Park train station are evidently more sought after.
Stewart Fisher, Manager of our sales division notes, “The sales market has seen a dramatic increase in property values and buyer registrations. In March this year we saw a 55% increase in registered buyers compared to six months ago. Raynes Park’s growing popularity is as a result of buyers being priced out of more centrally located areas like Earlsfield, Wimbledon and Balham; although prices here are escalating quickly so we’re now finding many looking even further afield to areas such as Motspur Park or Morden, where buyers are offered more for their money".