Hamptons International Battersea & Wandsworth market update – 3rd March 2016

Hamptons International Battersea

Good afternoon everyone,

For those of you who are new to these reports I add all my current vendors, past valuations and current buyers to a list of recipients for a regular (roughly once a month) update of what’s really happening in the market.  There’s no sales patter and no pushiness, it’s just an honest and open take on the market as we see it.  As ever, if you want to be taken off the list please just ask.

The last few weeks seem to have gone in a flash and we are already at the beginning of March.  Of course being away from work for the half term week probably contributed to this but even so it seems strange that Easter, and hopefully spring is only around the corner.  In terms of activity, February brought a bumper crop of results with double the income year on year for our region and a continuing rise (albeit unsurprisingly a slowing rise) in valuations, instructions and buyer registrations.  Viewing and offer figures are starting to come more in line with predictions, although the overall value of our sales agreed is still up meaning our pipeline is still very strong.  So what does this actually mean?  In simple terms, the spike of buyers hoping to purchase before the impending second home stamp duty rise takes effect has really driven the market for the year so far, but new buyers have realised that they will now almost certainly miss the deadline so the market is returning to normal for the time of year.  This is therefore a great time to buy as stock is relatively plentiful (see my table of availability below) and vendors are having to be a little bit more flexible on what they might expect to achieve.

Looking forward we expect March to continue to see fairly brisk trading, although there is no doubt that the very early Easter this year is likely to impact house sales towards the end of the month.  With so much stock around buyers are naturally taking their time and seeing everything within their price range before committing to a purchase.  Once again, realistic pricing is key in such a market and buyers will simply rule out an ‘ambitiously’ priced property, possibly never to return.  There is definitely a sense that buyers want to take their time and explore all the options before putting forward offers and in doing so our buyers have a very good sense of property prices and knowledge of what is selling and what isn’t.  If they feel a price is too high then they’re just not coming to see a property, but if they feel it’s priced correctly then it’s being snapped up.  It is always the most realistically priced properties (not ‘cheap’ or ‘giveaway’ but simply realistic) that receive the majority of the viewings, interest and offers which is why it is absolutely vital that when instructing an agent you ask to look at comparable evidence from their respective valuations, and not on listed prices but prices that have actually been achieved.  It’s so frustrating when someone puts their property on with another agent purely because they have received a high and attractive recommended asking price – only to be told a few weeks down the line they need to reduce their price and are regretting their decision to have not acted upon better advice from the outset.

As ever each month we take stock of exactly what is on the market, at what price levels and how long things are taking to sell.  The table below shows all of the fully available (not yet under offer) stock between the commons, from Bolingbroke Grove to Clapham Common and from Battersea Rise to Thurleigh Road:

Type of property

No. available

Average time on the market (so far!!)

Average £/sqft

No. available last month

Average time last month

Average £/sqft last month

1 bed flat


76 days



42 days


2 bed flat


78 days



58 days


3 bed flat


64 days



77 days




72 days



49 days


It is clear that there has been a huge jump in the number of one bedroom flats coming to the market and the average soldprice in terms of £/sqft is actually around £940/sqft (assuming they sold at the full asking price) so again, it’s the more realistically priced stock is the stock that’s selling.  There are also over 25% more two bedroom flats on the market than there were last month, although prices in terms of £/sqft are starting to come down.  Three bedroom flats look much the same as they did last month (although selling slightly quicker).  I said it last month but the number of houses to have hit the market so far this year is a big surprise, and at prices which are quite simply unfathomable.  Supply is up by nearly a third compared to the same time last year and whilst some are certainly selling, the average exchanged price is around £750 – £800 per square foot against asking prices of around £880/sqft.  Sadly this is mainly due to massive over valuing by some agents at a time when stock is at it’s highest – I simply cannot see how this is sustainable going forward.

Our country practitioner workshop days continue to be a huge success and have brought me more positive comments than anything I’ve done before.  For those of you that haven’t heard of these, one of the great advantages of working for a big company like Hamptons is the access this gives us to different markets, both in London and further afield.  We work closely with our country offices and with so many house sellers moving to the country we are trying even harder to bring town and country offices even closer together.  This service is not a fee earner but an opportunity for you to discuss with real experts the pro’s and con’s of certain areas outside London.  In addition to the regular once a month workshops we will also hold our annual Country Roadshow event on Saturday 12th March (see attached flyer) in the Northcote Road office which is always a well attended and informative event.  This year we will be having a live band, face painters, competitions and representatives from over a dozen different country offices, so whether you’re well down the line in your country move or just thinking about it at some point in the future, do pop in for a coffee & a croissant and chat to the experts.

In local news, and with my Chairman of the Northcote Business Network hat on, I’m delighted to announce that the Northcote Road summer fete will once again be taking place on men’s Wimbledon final day (10th July).  This year we have employed a different event organiser for the summer and Christmas events so whilst they will follow a similar theme to the last few years, there will be a few changes which will hopefully make the events even bigger and better than before.  There are various sponsorship opportunities available (the summer event alone costs around £50,000 to put on) so if you or your company would be interested in supporting either of these fantastic events do please get in touch.  Here’s a reminder of last year:


And that’s it for today.  As ever I hope you find these updates interesting and do get in touch if you want to be taken off the list or alternatively wish to discuss anything property related – I’ll always find time for a chat, either in the office or over the phone.  As ever, this update, as well as all of my previous missives is available to view on my blog, which also links to our Twitter feed and can be seen here:


Do feel free to subscribe and forward the site address to anyone you know who might be interested.  If you have any feedback please also get in touch.

Kind regards,


Jonathan Dyson
Area Sales Director

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