New Build Investor Guide – Wandsworth

May 2021

Buying a new build property off plan? Check out our Area Guide first

Are you considering purchasing a new build, off plan property in Wandsworth? Want to get the latest information on house prices, demographics and other useful information before you commit to a deal?

Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.

Read on for investor details specifically about Wandsworth but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:

1 Is investing in UK residential property still worth it?
2 If so, where are the best opportunities for property investors and why?

Wandsworth, London

Wandsworth is one of 12 inner London boroughs and is located in south London. Spanning over 13 miles², it is the third largest inner London borough by area. The borough borders the river Thames, Lambeth, Merton, Kingston upon Thames and Richmond upon Thames. It includes the districts Battersea, Nine Elms, Putney, Tooting, Wandsworth Town and more.

Demographics

Wandworth’s population is forecast to grow by over 16% by 2030

Population (2018) 324,400
Forecast Population 2030 377,297

Source: data.london.gov.uk

Economically Active Population

Age Range Percentage of population
16 – 64 72%
Under 15 18%
Over 65 9%
Martial Status:  
Single 54%

Source: data.london.gov.uk

Average Life Expectancy

The average life expectancy for those born in Wandsworth between 2016 and 2018:

A largely young, diverse, mobile population.

Average Life Expectancy

The average life expectancy for those born in Wandsworth between 2016 and 2018:

Males 81 (UK average is 79)
Females 84 (UK average is 83)

Source: ons.gov.uk

Population Density (2011)

Wandsworth is the 11th most densely populated local authority in the UK, with 16,321 people per km2.

Source: ons.gov.uk

International Migration (2018-19)

5,818 new residents from overseas, the 12th highest of all London boroughs.

Source: ons.gov.uk

Country of Birth

Location of Birth Proportion of Population
UK and Ireland 66%
EU 10%
Other countries 24%

Source: data.london.gov.uk

Crime & Safety

Crime Numbers (April 2017 – March 2018)   24,918
Crime rate per 1,000 population (April 2017 -March 2018) 79
Wandsworth has the lowest crime rate per 1,000 people of all inner London boroughs.  

Source: data.london.gov.uk

Education

Schools

Primary Schools 99 (24 of which have an Ofsted rating of outstanding)
Secondary Schools      34 (5 of which have an Ofsted rating of outstanding)
Schools and Colleges (16-18 years) 25 (5 of which have an Ofsted rating of outstanding)

Source: compare-school-performance.service.gov.uk

Universities

University of Roehampton

Hospitals

St George’s Hospital

Queen Mary

General Wellbeing

The proportion of people considering themselves in very bad health is the third lowest of all London boroughs.

Population considering themselves in very good health 57%
Population considering themselves in very bad health less than 1%

Source: data.london.gov.uk

Employment & Economy

80% of working aged people employed (compared to 75% across England 74% across London).

Top 4 Sectors of Employment

Finance, banking and insurance 34%
Public administration, education and health       25%
Distribution, hotels and restaurants 12%
Transport and communication 13%

Source: data.london.gov.uk

Major Employers

In 2020, there were 40 companies in the borough employing more than 250 people and 165 companies employing between 50 and 249 people. (source: nomisweb.co.uk)

Jobs and Job density

Aproximately 40,577 residents of Wandsworth also work in the borough. 57,152 people travel into the borough each day for work and 100,700 residents work outside the borough. The daytime population of borough therefore decreases by 43,548 people each day. (source: data.london.gov.uk).

Median Gross Annual Pay for full-time employee jobs (2017) £31,365
Number of jobs in the borough (2019)            92,000
Jobs per resident        0.49 (London average 1.03 and UK average 0.87)

Source: nomisweb.co.uk and data.london.gov.uk

Housing

Number of residential properties in Wandsworth 142,690

Source: data.london.gov.uk

Property Ownership (2018)

own property outright (no mortgage) 21%
own property with mortgage 32%
rent from a Housing Authority or the Local Authority 17%
rent from a private landlord (representing approximately 38,500 private rentals) 30%

Source: data.london.gov.uk

Household with no car or van (2011) 45%

Source: nomisweb.co.uk

Household Composition

One person households    32%
One family households     48%
Other  (sharers / students etc)   20%

Source: nomisweb.co.uk

Average House Prices

House prices in Wandsworth were the 8th highest of all London boroughs in January 2020, but with house prices falling in the borough, they are were the 10th most expensive in January 2021.

Average achieved price January 2020 £605,217
Average achieved price January 2021 £598,547
Increase/Decrease  -1%

Source: www.gov.uk

Volume of Sales

During the COVID pandemic, the number of property transactions fell by 22%.

Number of residential sales to year ending September 2019 4,458
Number of residential sales to year ending September 2020    3,491

Source: ons.gov.uk

Achieved Rents (January to December 2020)

Mean monthly average rents in the borough:

  London Median Rents
(per calendar month)
Wandsworth
(per calendar month)
Studio     £950 £1,050
1 bedroom £1,200 £1,400
2 bedrooms £1,450 £1,750
3 bedrooms £1,750 £2,250

Source: london.gov.uk

Battersea-power-station

New Build Developments in Wandsworth

Several notable developments in Wandsworth are currently available for sale, many of these are in Nine Elms and many have been launched in Asia and the Middle East

Embassy Gardens – Phase 2 (Ballymore)

Total Number of Apartments 872 (703 private)
First Launched Sept 2015

Visit Website

Average Prices – Embassy Gardens

  Minimum Average Maximum
Price £630,000 £1,362,399 £4,500,000
Price per ft² £1,237 £1,578 £2,250
Area (ft²) 402 859 2,000

source: Molior

  Minimum Average Maximum
Studio £630,000 £709,167 £795,000
1 Bedroom £825,000 £1,035,769 £1,290,000
2 Bedroom £825,000 £1,388,750 £1,825,000
3 Bedroom £1,495,000 £2,160,000 £4,500,000

source: Molior

Lexington Gardens (Bellway)

Total Number of Apartments 357 (262 private)
First Launched November 2018

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Average Prices – Lexington Gardens

  Minimum Average Maximum
Price £569,950 £814,087 £1,067,500
Price per ft² £926 £1,044 £1,225
Area (ft²) 554 786 1,069

source: Molior

  Minimum Average Maximum
1 Bedroom £569,950 £635,227 £676,000
2 Bedroom £765,000 £849,191 £945,000
3 Bedroom £1,000,000 £1,039,167 £1,067,500

source: Molior

Battersea Power Station – Prospect Place / Roof Gardens (Battersea Power Stations Development Company)

Total Number of Apartments 1363
First Launched October 2015

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Average Prices – Prospect Place / Roof Gardens

  Minimum Average Maximum
Price £557,138 £1,737,246 £3,443,000
Price per ft² £1,103 £1,710 £2,123
Area (ft²) 389 1,016 2,325

source: Molior

  Minimum Average Maximum
Studio £557,138 £676,285 £810,000
1 Bedroom £808,500 £941,917 £1,030,000
2 Bedroom £1,248,000 £1,604,816 £1,942,600
3 Bedroom £1,817,000 £2,286,225 £3,000,000

source: Molior

Prince of Wales Drive (St William)

Total Number of Apartments 926 (697 private)
First Launched September 2016

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Average Prices – Prince of Wales Drive

  Minimum Average Maximum
Price £690,000 £1,173,635 £3,525,000
Price per ft² £636 £1,277 £2,920
Area (ft²) 556 902 2,045

source: Molior

  Minimum Average Maximum
1 Bedroom £690,000 £786,500 £1,205,000
2 Bedroom £755,000 £1,039,388 £1,650,000
3 Bedroom £965,000 £2,513,158 £3,525,000

source: Molior

Coda (Avanton)

Total Number of Apartments 299 (245 private)
First Launched May 2018

Visit Website

Average Prices – Coda

  Minimum Average Maximum
Price £510,000 £879,900 £1,650,000
Price per ft² £944 £1,175 £1,542
Area (ft²) 425 727 1,101

source: Molior

  Minimum Average Maximum
Studio £510,000 £517,500 £525,000
1 Bedroom £585,000 £650,588 £830,000
2 Bedroom £695,000 £932,115 £1,460,000
3 Bedroom £1,375,000 £1,533,000 £1,650,000

source: Molior

Environment & Leisure

Wandsworth is home to:

32 parks including Battersea Park

The Royal Academy of Dance

Tooting Bec Lido (outside swimming pool)

12 libraries

9 sports centres

4 leisure centres

Sports pitches in 16 locations

Tennis courts in 10 locations

Transport

Wandsworth’s underground and overground stations are in Zones 2 and 3.

Overground Stations

Balham Battersea Park
Clapham Junction Earlsfield
Putney Queenstown Road (Battersea)
Wandsworth Common Wandsworth Town

Underground Stations

Balham (Northern line) Clapham South (Northern line)
East Putney (District line) District (Piccadilly line)
Tooting Bec (Northern line) Tooting Broadway (Northern line)

Local Government

The Conservatives

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