Wandsworth property prices 'driven by demand'
property to rent in Wandsworth could allow househunters to avoid buying in a market where demand is driving prices higher.
Estate Agent Knight Frank reveals that weak supply and strong demand are combining to artificially inflate prices in some London boroughs.
Wandsworth is among these, being one of the prime areas of the city to have seen a 3.7 per cent growth in property costs during the second quarter of 2009.
The constrained supply of property for sale - down by 40 per cent year-on-year - is one factor in driving prices higher.
Head of residential research at Knight Frank Liam Bailey says: "The view is that the Central London economy will be one of the first parts of Europe to see a sustained recovery."
While sale prices are increasing, the cost of property to rent in Wandsworth fell over the same period, with Knight Frank previously reporting residential rents as being down by 1.9 per cent in the centre of the city in the second quarter.
By Charles Mackay
Published 27th July, 2009
© 2009 Estates IT Limited
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Property to rent in Wandsworth could provide an ideal alternative to buying in a market of constricted supply.