Regional Report: Clapham, London

Based on various reports, the average price of properties in the Clapham area actually grew over the past twelve months – despite other reports stating that sold prices were down around 10%.

With so many agents operating within the local area, and surrounding suburbs, this inevitably comes with a huge disparity in pricing methods, and strategy, which makes finding ‘true’ value, and ‘true’ trends quite a tricky proposition. I have always been a firm believer in pricing accurately. Sometimes I’m even £50-£100k below what some of the other local valuers quoted. Astonishing, I know!

With buyers still generally worrying about interest rates, and the cost of living, they are very cautious about how they’re spending their money – and not wanting to stretch themselves too thin with monthly repayments. This can also have quite a resounding knock-on effect for properties with somewhat inflated service charges.

Factoring all of this in, and having spoken to many buyers throughout the year, the majority tend not to want to take their time out from work, or personal life, going to view properties that are simply on for too much money. Should the property be priced right, it should still achieve a healthy level of viewings, and not take too long to successfully source a buyer.

Realistic pricing key to time on market

There tends to be a huge disparity for ‘time spent on market’ between those that are realistically priced, and those that enter the market at overly optimistic levels. Typically, if priced right, you will see the property go under offer in the first two to three weeks of marketing – with the alternative likely taking anywhere from two/three months to six months plus (depending on how inaccurate the agent’s quote was).

Despite all the negative press and cost of living, buyers are still happy to pursue a purchase in Clapham, and surrounding areas, due to the wonderful lifestyle options on offer, and the sense of security for the local sales market. In my opinion, throughout many huge potential disasters for the market (Brexit, Covid, lockdown, inflation), prices have held firm – as has the desirability of the area.

Following a rather slow start in terms of valuations at the beginning of this calendar year, stock levels have thankfully increased so we have been able to service our buyers with the types of properties they are looking for. Generally, the main items at the top of people’s lists are internal square footage, and some private outside space or proximity to a park. Thankfully, this is easily achievable here.

Orlando Reid

1 - 3 Old Town

Clapham SW4 0JT

View website

• Average sales price: £550,000
• Average time on the market: 21 days
• Average rental price: NA
• Average commission on sales: NA