Wimbledon And Its Borough

In a previous article I said that average property values in Wimbledon is £744,000 and over the last two years Wimbledon property values had risen by 14.5% (a rise of £94,219) This is great news for anyone who owns their own home in Wimbledon.

However, our borough of Merton has other towns within its proximity and as a landlord, one must consider other towns to invest in. The main commercial centres in Merton are Mitcham, Morden and Wimbledon, of which Wimbledon is the largest.

An average property in Mitcham has seen an increase in property values by around £47,460 over the last two years, taking an average property up in value by 18.6% up to £302,600. You have to go to Morden where they have seen some impressive property value increases. Morden property values have risen by 19% taking an average property here from £300,330 to £359,200 over the same time frame.

I find it interesting that three places - Wimbledon, Mitcham and Morden all within one borough can experience such variations in property prices. (From 14.5% in Wimbledon all the way through to 19% in Mordon. With average rents steadily rising by 1% to 2% a year and with continuing troubles for first time buyers raising the £30,000 + for the deposit and fees, I can only see a greater demand for rental properties in Wimbledon which will mean more people will continue to buy property for Buy to Let, and where there is greater demand, the price tends to go up. This however, is only my opinion.  If you would like to talk about any matter relating to property in Wimbledon, feel free to contact me on 020 8947 6613 or email me direct on sam@masonandco.co.uk.