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Local property sales expert John-Paul Burrough of award-winning Marsh & Parsons Tooting talks about the current state of the housing market in SW17. |
The property sales market is traditionally quieter throughout the summer months, as people focus on school holiday fun and family vacations. However, much like Tooting Bec Lido on a hot summer’s day, our Tooting sales team has been as busy as ever!
It seems the dust has settled from much of the changes and uncertainties of the past few years, and confidence has returned for both buyers and sellers. Indeed, we’ve brought some great new properties to the market and had 60% more buyers registered as of July compared to the start of the year.
For those purchasing property, the first-time buyer market remains one of the more prominent, as young professionals look to Tooting as an affordable yet savvy location to step on to the property ladder. Historically low interest rates, a little help from ‘The bank of mum & dad’, relative value for money and recent capital growth may just make our beloved Tooting the perfect property storm!
Many of our first-time buyers gravitate to smaller, turn-of-the-century homes towards Tooting Broadway, where prices are lower. Buyers can find some great one-bedroom flats for under £400,000, but this is changing rapidly. The Telegraph reported that homes around the north and west of the station have increased in value by as much as 78 per cent in the past five years, and now average £535,000.
Here’s some examples of some lovely one-bedroom properties we currently have for sale:
Demand also remains strong from growing families looking for extra space – be it a property with a garden, study or an extra bedroom for the kids. For the price of an average one-bedroom property in Clapham or Balham, families and investors alike can take advantage of the slightly lower prices and purchase a two-bedroom property in Tooting for a similar price.
We find that more established families purchasing their second or third home are gravitating towards the beautiful terraced streets near Tooting Bec, where buyers can find renovated properties with three to four bedrooms and lovely gardens for under £1million.
If you would like advice on your sale or purchase, please do not hesitate to get in touch with our experienced team.
Marsh & Parsons Tooting is an award-winning estate agent and one of our valued Community Partners. Find them at 29-31 Upper Tooting Road, SW17 7TS. Call John-Paul (sales) or Miles (lettings) on 020 8115 8053.
For lettings, visit https://www.marshandparsons.co.uk/london/tooting/lettings
For sales, visit https://www.marshandparsons.co.uk/london/tooting/sales/status-all
Find out more on their website, and follow them on Twitter, Facebook and Instagram. Find out more about our Community Partners here.
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