Northcote Road Home Truths

Values, trends and forecasts for Northcote Road's residential property market

A snapshot of the Northcote Road property market

Nestled between Wandsworth and Clapham Commons, Northcote Road has become one of London’s most eclectic and vibrant shopping destinations over the years. Its famous road stretches for over half a mile, lined with a characterful array of independents, specialist shops, boutiques, galleries, cafes, bars and restaurants. Locals pour onto its street every weekend to dine, drink and shop, bringing with it a lively and effervescent atmosphere.

As well as its namesake weekly market, which sells an abundance of fresh fruit and veg, designer wares, and artisan delicacies, and the renowned annual street festival - a tradition of the past 29 years - the arts and culture scene is one Northcote Road knows how to do well.

An antique market which was established in 1986, brims with vintage finds and old collectable treasures, and for the art lovers, galleries are aplenty

But away from its vibrant and busy street, it’s also a peaceful and easy-going place to live with a friendly community, and wide, green open spaces in its neighbouring boroughs. With its thriving food and retail scene, some of the best transport links, and great schooling options, it’s become a favourite amongst families, couples and sharers. Prime double-fronted properties with lateral space and generous gardens are in high demand in the Northcote Road area.

Research and insights

Many buyers have been in search of more space, and larger homes with gardens have been in high demand.

New stock coming onto the market was unable to keep pace with these rising demand levels and so this imbalance led to strong price growth and high levels of transactions.

The prime housing markets around Battersea’s Northcote Road have seen values increase by an average of 13.4% for houses. Meanwhile flats have seen prime prices increase by a total of only 2.5%.

More recently, economic uncertainty, rising living costs and higher interest rates have led to some caution among buyers as their spending power has come under pressure. Whilst the prime markets tend to be more driven by equity than debt, they aren’t completely immune to these pressures.

As such, we have begun to see price growth slow. Houses increased in value by an average of 5.6% in the year to September and flat values grew by 1.6%, down from their respective peaks of 7.8% and 2.9% in March 2022.

Looking ahead, we expect the prospect of further rate rises to weigh on buyer sentiment and limit buyers’ budgets. We are forecasting prime prices to fall by an average of -7.0% by the end of 2023 across outer prime London, unwinding some of the growth seen since the start of the pandemic.

During this period, sensible pricing will be fundamental to achieving a successful sale and both buyers and sellers will need to be realistic.

Over the medium term, once the economy picks up and we see an improvement in mortgage costs, demand from affluent buyers looking to upsize and relocate within the capital will pick up and so we predict that values across outer prime London will increase by a total of 6.1% by the end of 2027.

The lettings markets have also seen low levels of available stock and increased demand which has led to rent rises of 11.9% for flats and 17.9% for houses across South West London since the start of the pandemic.

Demand has come from a variety of tenants including young professionals, families, those wanting to try before they buy and those biding their time to see what happens in the sales market. This means there has been some difference in performance between property types with larger family homes seeing stronger levels of growth.

Inflationary pressures and the cost of living are beginning to impact on tenants’ budgets and this is likely to continue. At the same time, a rise in accidental landlords, given the weaker sales market, could also increase supply. Though it’s unlikely this will be enough to make up for the severe stock shortages currently evident. So we are anticipating the strong rental growth which we have witnessed lately will moderate.

Property sales and lettings in Northcote Road

Bringing our expertise to every property sale.

Sold | Clapham Common, Northside

An exceptional Grade II Listed house on the north side of Clapham Common.

This property was owned by the same family for over 60 years and appealed to a real mixture of buyers; from investors to overseas buyers, as well as true purists. We worked closely with our in-house PR team to generate magazine exposure for the property, and as a result, the house was purchased by a property investor who has sympathetically restored it.

This rare and outstanding Grade II Listed house located on the north side of Clapham Common spans over 8400 sq ft of grand proportions and ornate detailing, as well as being accessible to the North of the river, it has spectacular views of the London skyline.

The same family had lived here for over 50 years and decided that the time had come to sell the property. They chose to work with us through a recommendation that came from a previous client of Savills.

We worked closely with our in-house PR team to generate magazine exposure for the property, and as a result, the house was purchased by developers for a fantastic price given the amount of work needed on the property.

Sold | Elspeth Road

A gorgeous 3-bed split-level Victorian conversion achieved over asking price.

The new owners were relocating from the countryside and were drawn to its rustic feel – which they felt was a rare find, compared to the majority of other properties they had viewed in the area. Our Battersea office then assisted the seller with the purchase of their next house.

This gorgeous 3-bed split-level Victorian conversion has a generous terrace and is situated only a 2-minute walk from Clapham Common.

The owners partnered with Savills through a referral from our Battersea office where they were searching for a property upgrade in Battersea.

Within the first two weeks of hitting the market, the property attracted a huge number of viewings through both our database of buyers as well as the online listing.

We priced it sensibly to gain initial interest, resulting in best and final offers, subsequently achieving over asking price to a first-time, cash purchase buyer.

Let | The Granary, Bakery Place

A unique apartment in an award-winning development achieved extraordinarily over the asking price.

As the owner was moving abroad, they decided to let the house and chose to partner with Savills due to our clear, friendly and professional approach that they felt set us apart from other agents.

This unique and outstanding two-bedroom terraced house is situated in the award-winning development Bakery Place in SW11 - a popular development amongst architectural enthusiasts thanks to its endearing, original bakery features.

The apartment is bright and spacious with an open-plan feel and the entire space has been exquisitely decorated throughout.

The impressive nature of the apartment attracted multiple viewings, which resulted in a bidding war between the final two applicants, and as such, it let for an extraordinary over-asking price.