Three trends for this year’s autumn property market

buy and sellThe London property market experiences several high points each year driven by different seasonal trends.

For example, the market heats up during the run up to Christmas as people try to complete before the market closes down for the festivities. Then, during the first week of January a surge in the number of buyers pushes up demand and therefore prices.

During July and August, when most families go on holiday, activity increases once as owners try to sell before they go on holiday and again in September as buyers come back from their trips away ready to move home.

Rising demand during the autumn peak period pushes up prices. For example the team at Wandsworth Estate agents James Pendleton last year observed that prices began creeping up in October and November before peaking at a monthly average increase of 2.1% in December – before simmering down to a relatively tame increase of 1% in January.

In London properties sell 5% faster in October than in September so the later in Autumn a property goes on the market, the quicker the sale is likely to be. Properties sell even more quickly after the New Year –homes sold 40% faster during the first three months of the year in London compared to the three months before.

To find out about the current market conditions or if you have a question about buying selling or renting property speak to the team at London estate agents James Pendleton.

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Wandsworth area property guide

Wandsworth Town has transformed into a fashionable place to live as high prices in other areas of the borough, coupled with a billion pound investment scheme, make it one of London’s new hotspots.

Home buyers and in particular dual-income 30-somethings with and without children love the area’s diverse range of properties including cute period cottages, large early Victorian villas, mid-range period semis as well as modern riverside apartments.

“Wandsworth town centre is relatively small and consequently a few ‘villages’ within it have become the most popular places to live,” says David Barker, Wandsworth Town & Tonsleys office manager at local estate agent James Pendleton.

These include the Tonsleys, a grid of streets, many with Tonsley in their titles and containing some 600 Victorian and mostly terraced houses. Demand for these houses has pushed up the average for the area to just over £1m although some of the larger high spec properties have been on the market for up to and over £1.2 million. To give a measure of their popularity, ten years ago these wisteria covered properties were selling for approximately £400,000. This area, which is bordered on two sides by the A3 and by the A214 and A217 on the other two, is also famous for fashionable gastro pubs and cafes.

Another area that has witnessed feverish development and house prices rises recently is Spencer Park to the South West. Locals like to call it ‘millionaire’s row’ and its large mansions, one of which is home to chef Gordon Ramsay, command prices of several million pounds.

Some of Wandsworth’s most sought after addresses are those on the ‘toast rack’ roads on the edge of Wandsworth Common, so named as they are arranged in a way that resembles a stretched Dualit. Prices for detached and semi-detached houses there have been approaching (and in one case achieving) £4 million-good news for one of its famous residents, Location, Location, Location presenter Phil Spencer.

The town’s centre is tipped for great things at the moment, helped by the imminent redevelopment of the famous Ram Brewery site, formerly where Young’s beer was brewed and part of a £1 billion makeover for the town’s central streets. Nearby, more new-build developments are popping up. Stroll along the area’s former industrial wharf river frontage and you’ll see a waterfront shimmering on both sides of Wandsworth Bridge with an array of upmarket glass-and-steel apartment developments.