Busiest borough for property transactions is Wandsworth

Wandsworth is the busiest borough in London for home sales over the last year. The south-London borough accounted for 6% of the 48,278 homes sold in the capital, a report from Benham and Reeves revealed.

The borough is considered to be part of London’s “prime fringe” which refers to a luxury housing market at the edge of the capital.Marc Von Grundherr, director of Benham and Reeves, said that it was “hardly surprising” to see Wandsworth at the top.

 “There have been a number of exciting developments within the borough, such as Wandsworth Mills, and we’re also seeing incredibly high demand for rental homes as tenants also look to secure a spot,” he said in a news release. 

Bromley, with 5.3%, and Croydon with 4.6%, were also among the busiest boroughs. Apartments were the most popular property type, data from the Land Registry revealed, accounting for nearly half of all sales. They were the most popular purchase across 24 boroughs.

Denser areas saw flats dominating in sales, accounting for 98.3% of transactions in the City, and over 80% in Westminster, Tower Hamlets, and Camden. They are typically more affordable and available, according to Grundherr. Terrace homes were also popular, being 29% of total market activity in 2023, while semi-detached properties accounted for 16% of total sales.

While Wandsworth was the most popular, the City of London saw the lowest level of market activity. Only 116 transactions took place, accounting for 0.2% of homes sold across London. It joins Newham, Dagenham, and Barking for some of the lowest levels of market activity.

“We expect that not only will market activity build over the course of the year, but house prices will also start to stabilize,” Grundherr said.

For more updates on Wandsworth, visit EyeOnLondon Wandsworth.

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