The Perennial Appeal of South West London
With its handsome Victorian housing stock, green spaces, independent cafés and excellent restaurants, and a strong sense of community, South West London has long been a draw. Add to this the infrastructure of excellent transport links into the City and West End, and the myriad schools in the private and state sectors, and it’s easy to see why people who move to the area will often settle here for decades.
According to Philip Agius, the area continues to appeal to young singles and families alike for several reasons. “Many successful professionals live in popular pockets of South West London, creating a sense of community where ‘birds of a feather flock together.’” Philip cites the “urban villages” such as Abbeville Village, Between the Commons, Bellevue Village, the Heaver Estate, Dulwich Village, Barnes Village and Wimbledon Village as the most highly sought after for people seeking a vibrant yet homely environment.
Market Predictions for the Rest of 2024
Despite the political uncertainty which ensued after the early General Election was called, market activity in South West London only experienced a brief slowdown. However, Philip points out that the Bank of England’s decision to reduce the base rate over the summer has positively influenced the market. “Lower interest rates have boosted sentiment and there is a clear sense of optimism entering the South West London market, leading sellers to actively list their homes and prompting buyers to make strong offers, all with the goal of finalising deals before Christmas.” With interest rates now as low as 3.83% for a five-year fixed rate, we anticipate a robust market in September, October and November.
Why September is a Strategic Time to Buy or Sell
“Traditionally, the property market was truly seasonal, with specific times of the year when buyers and sellers would gear up to move,” says Philip. “September, following the summer holiday period, was long seen as the start of a rush to move by Christmas.” Although the advent of the internet has made the sales market less seasonal, many buyers and sellers still see September as a key time to enter the market. Philip notes, “We often see a spike in supply that mirrors a spike in the number of buyers, which makes September one of those rare times in the year where motivation is high on both sides. This alignment creates a unique opportunity for successful transactions, especially when aiming for a December completion date.”
Top Tips for Buying in South West London
- Understand Your Budget: “Before beginning your property search, consult with an independent financial advisor to clarify your budget,” advises Philip. “Understanding all associated costs, such as Stamp Duty, and securing a Mortgage Agreement in Principle (AIP) will enable you to act quickly when you find the right home.”
- Do Your Homework: Philip suggests spending time in your preferred neighbourhoods to get a feel for the area. “Check the proximity to transport links, schools, and recreational facilities that are important to you. Engaging with local estate agents who specialise in properties similar to what you’re looking for can provide valuable insights and opportunities.”
- Sell First If You Need To: “If your purchase depends on selling your current property, begin the selling process first,” says Philip. “This will make you a more serious contender in the eyes of sellers and provide you with greater negotiating power. Once your property is under offer, you’ll be in a stronger position to secure your next home.”
Top Tips for Selling in South West London
- Prepare Your Home for Sale: “First and last impressions really do matter,” Philip stresses. “Take time to declutter, repair minor damages and ensure your home is presented in its best light. A well-maintained garden and a clean exterior can significantly impact a potential buyer’s perception – it’s all about marginal gains.”
- Don’t Just Opt for the Highest Valuation: Philip advises inviting agents with a proven track record of selling similar homes in your area to value your property. “Obtain at least three valuations and base your decision on the agents’ local knowledge and competency, rather than the highest valuation.”
- Select an Experienced Agent: “Work with a reputable estate agent who has extensive experience in the South West London market,” Philip recommends. “Extensive local knowledge and a track record for navigating through the sales process is rarer than you would imagine. I have been selling quality homes in South West London for the last 42 years and dealt with every imaginable problem, and that experience is invaluable when similar issues crop up during a transaction.”
Why Choose Wilfords?
At Wilfords, we bring decades of experience and an in-depth understanding of the South West London property market. Our team of expert agents is dedicated to providing personalised service tailored to your individual needs, ensuring a seamless buying or selling experience. For more personalised advice and insights, drop into our Northcote Road, Wandsworth office, give us a call on 020 7361 0410 or email us at wandsworth@wilfords.com.