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
Hospitals
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
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 |
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 |
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 |
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 |
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 |
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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