South West London homes grow in demand as end of lockdown nears
High-end homes in South West London have grown in demand in the first quarter of this year, according to estate agent Benham and Reeves.
As the end of lockdown nears, the leafy suburbs of the capital have seen a one per cent increase in interest by high-end homebuyers in the £2m and over range.
“We’re slowly but surely seeing momentum grow across the prime London market and a further uplift in homebuyer demand during the first quarter is certainly a positive sign for the year ahead,” Benham and Reeves director, Marc von Grundherr, said.
Locations in South West London were the most desirable to high-end home buyers, with Wimbledon, Barnes, Richmond, Chiswick, Putney and Clapham making the top six in that price range.
Wimbledon saw a 12 per cent rise in interest since last year and has the highest demand in South West London, at 44 per cent.
“These locations offer larger homes but more importantly, both the homes available and the wider areas boast a greater abundance of green space, which has fast become a must-have for high-end homebuyers,” von Grundherr added.
“This is a trend that has been brought about due to lockdown restrictions and is no doubt here to stay, if only for the short to medium term.”
Home’s worth £10m or more have seen a two per cent rise in interest, with eyes looking to Holland Park, Notting Hill, Chelsea and Victoria as prime locations in Central London.
Notting Hill and Holland Park are home to the highest levels of current demand, enjoying the largest quarter to quarter increase in its price threshold, Benham and Reeves data showed.