South West London has long been an area celebrated for its lifestyle balance between London and the country, making it a perennially popular location for young couples, expectant parents and young flourishing families to call home. With some of the capital’s most sought after schools, it comes as no surprise that the property market here is largely centred around education, particularly now that school places have been allocated for the next academic year.
For some, the parental preparations have been ongoing, meaning moving house to stand the best chance of getting into their first choice school - a decision Robin Chatwin, head of Savills South West London residential region, made some 25 years ago when educating his children in Wandsworth.
He details how the property market is influenced by the school calendar and how to be best placed in order to secure a property within your chosen school’s catchment.
“The South West London property market thrives throughout the year, but increasingly so during the months leading up to school applications and then again once places are allocated during the spring term.” described Chatwin. “Although dates and applications may differ depending on the type of school - whether it be co-ed or single-sex, private or state, junior or senior - one thing that they all have in common is the requirement and desire amongst parents to live within a short distance of the school gates,” recalls Chatwin, who is also Deputy Chair of Governors at Finton House School.
“As such, best in class properties - usually comprising of five or six bedrooms and offering outside space, located within the catchment area of a well-established school – are often most sought after.”
In fact, according to Savills research, the strongest annual price growth was recorded by homes with large gardens, up 9.0% annually, with leafy suburbs such as Richmond (+9.1%), East Sheen (+7.7%), Fulham (+7.6%) and Wimbledon (+7.6%) being named as some of the top performers.
“In April, a month where school places are allocated, we had over 1,000 new buyer registrations across our 10 South West London offices and a 143% increase in the number of property viewings year to date, versus April 2021, an indicator that there is motivation for buyers to be settled before September” explains Chatwin.
“Over the last few weeks, we’ve completed on a number of deals in the region where schooling has been the main incentive to relocate. We recently sold a property in Wandsworth to a couple with a young baby who were relocating from their two-bedroom flat in Pimlico so that they could be within the catchment area for Finton House School – a sign of just how desirable the education offering is in South London and the degree of motivation for parents to plan ahead.”
“Similarly, we’ve seen families move back from overseas so that they can settle ahead of the new school year. We recently sold a lovely detached home with a garden to a young family moving back from Singapore. They wanted to be within a short distance of James Allen’s Girls’ School in Dulwich and so bought in Wandsworth, close to the school’s bus route”, says Chatwin.
“And although there seems to be a flurry of parents looking to relocate now, the motive to move is a year-round practice”, describes Chatwin. “The competition for school places - and for properties on neighbouring roads - can prompt the search for a home several years before couples have children or are old enough to go to school. In search of longevity, it’s not uncommon for these buyers to move in order to be settled in a catchment area before the time comes to apply for school places”, explains Chatwin, who oversees the region’s ten offices covering areas such as Battersea and Putney through to Wimbledon and more recently, Teddington.
“As a result, this adds a degree of exclusivity to properties in the prime roads surrounding a popular school, and with that can come competitive bidding, sealed bids and best and final offers – a theme seen across the South West and London as a whole.”
“In fact, over the last 12 months, an average of 98 per cent of the guide price has been achieved in the South West, highlighting just how strong the property market is. For some, moving can be stressful, especially with the added pressure of the academic calendar, so for those finding themselves being outbid, it can be worth looking at properties a few per cent under your maximum budget. By doing so, you’ll hopefully avoid the disappointment of missing out if it’s the one for you, and you will be in a position to place these competitive bids.”
Chatwin also explains how there has been an increase in buyers opting for properties in need of renovation or with scope to be extended. “Nowadays, buyers like flexibility and want the option of being able to extend their current home, or when looking to buy - especially if they are planning to grow their family and want to remain in an area where their children go to school.”
Recent Savills research suggests that since the pandemic, there has been a strong correlation between home mover numbers and home extensions and improvements. A total of 135,963 planning consents were granted across England in the six months to September 2021. Although the smallest increase occurred in London, due to planning permissions typically being harder to receive, consents were still up by almost a third on the year (30%), an indicator that homeowners are keen to stay within the area.
“While the race to relocate may continue over the months to come, what’s certain, is that schools will continue to drive sales in South West London. The green space of our treasured commons and properties on offer here, paired with excellent schools available here, provide the perfect formula for parents and their children, wherever they are on the education ladder. As a result, this will continue to draw both domestic and international buyers to this wonderful enclave of the capital year after year”, concludes Chatwin.
Robin Chatwin can be contacted via email RChatwin@savills.com or on 020 8877 1222.