Once a year in June, the streets of SW19 throng with visitors from far and wide for the annual All England Lawn Tennis Club championships. The village and all its eateries heaves with patrons soaking up the atmosphere while down in the town centre, Wimbledon train station with its underground and rail links ferries them all to and from the big two week event.
Outside of this busy period, while much quieter, Wimbledon is still a very sought after area – especially among buyers and renters who appreciate its leafy, residential outlook but with a thriving high street to boot. Wimbledon appeals to a variety of people from families, couples and also professional sharers. Families are attracted to the area for its good schools while couples and sharers appreciate the excellent transport links into Central London and the array of period flats and houses available. In addition, green spaces abound with a host of parks and the popular Common, while there is also an array of shops, cafes, restaurants and the Wimbledon Theatre while in the village there is a range of highly desirable boutique and designer shops.
The vast differences in price between Wimbledon town and Wimbledon Village dictate where many buyers and tenants will reside. The most expensive, as can be expected, is the village which offers a range of large period homes which are set around the Common, with four bedroom family houses starting in price from around £2 million. As you travel down the ‘slopes’ into the town centre, property prices are less expensive in comparison, with a typical four bedroom family house ranging in price between £1 million and £2 million. The most affordable corner, and where we find the majority of first time buyers purchasing, is the South Wimbledon /Colliers Wood area where family houses tend to be priced between £500,000 and £700,000.
Following the high values we’ve experienced over the past 18 months, the market seems to be resuming a more normal pace, similar to that of pre-2007 conditions and we’re starting to see a more sensible pattern of growth. Interestingly, we’ve seen a rise in the number of people selling up in order to get more space for their money in neighbouring areas such as Raynes Park and Morden while nearby Wimbledon Chase is seeing high levels of redevelopment with a new NHS hospital being built alongside a new retirement home and a new residential development. The Thameslink station there is a line now becoming very popular with commuters into Blackfriars and London Bridge and there is talk of increasing the frequency of trains during commuting hours which is likely to draw more residents to the area.
In the lettings market, Jo Davis, Lettings Manager at KFH notes that: “The market here remains strong as demand for rental properties continues to be high and rents steady. We have seen a consistently high level of tenant registrations and have also seen an increase in the length of tenancies, with more than half currently spanning longer than 18 months as tenants look to lock in for longer periods. The demand particularly for one and two bedroom properties has remained consistently strong and as we hit the height of summer and the start of school holidays, we’ve begun to see an increase in demand for family houses and rental properties with outside space. Typically, prices here can vary depending on location and standard of the properties however tenants can expect to pay in the region of £1,100 to £1,350 per month for a one bedroom flat while four bedroom houses can range from £2,500 to £3,500 per month.”