We’ve seen it all when it comes to the Wimbledon property market. People have come and gone, homes have been bought, families have moved in, children have moved out and empty nesters have been born. But one ever present reality in the Wimbledon property market is the relentless march of house price growth, much to the benefit of local residents.
The first reason any homeowner in Wimbledon should be excited, is that their home may be worth a lot more than they think. There’s a lot of doom and gloom in the papers at the moment when it comes to the housing market. Yet the hard reality is that average prices here are now 234 per cent higher than they were in 2000, and have grown 81.8 per cent just since the credit crunch.
Next, is the growing desirability for our beautiful area. House price growth depends on a ‘dynamic equilibrium’ of supply and demand. While there has been some house building, the ever-broadening appeal of the area means that demand still outstrips supply and house price growth looks very sustainable as we go into the next housing market cycle.
Finally, comes the future. Standing as we are on the cusp of another housing market cycle, house price growth is likely about to ramp up significantly. That means anyone moving now stands to gain the most from the next cycle. If you’d like to know more about the Wimbledon market, just pick up the phone as we would love to help.
Sales levels in recent months by type
The property market fluctuates on a seasonal basis, and this is particularly the case for sales rates. This chart shows how the market has changed over the course of the last few months. The most recent periods are estimates based on the previous year’s pattern.
Top 5% of properties over time
We wanted to show you the price movements of the top 5% of properties in the local market. This chart displays the main house types side-by-side so you can see how they sit relative to one another, and how they have changed over time.
Commuting distances
Measuring how far people travel to work might seem a little obscure but it actually offers a particularly good insight into the character of any local housing market. For example, areas where people travel long distances tend to be commuter towns which really come alive at the weekends but are quieter in the week.
(Main image provided by Matt Brown under this license)
