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Based in south-west London, Merton is home of the Wimbledon Tennis Championship, as well as plenty of green space from Wimbledon Common. Merton is a great place to live in London, but if you are looking to move from the area, what can you expect when selling your home?
Looking to sell your Merton home?
Property prices in Merton have generally increased across the board in keeping with the rest of London. The average property will achieve a price of £629,493, although this varies vastly dependant on location and property type. Detached properties will sell for an average of £2,300,000; this will again vary if your detached property is in Wimbledon, where property prices are well above the average for the area.
Semi-detached homes, which are most in demand for the area, will achieve around £1,139,781 on average, while terraced properties generally sell for around £751,391. Flats, which are most advertised in the area, reach an average price of £339,995.
Looking to rent your home?
You may want to move from Merton but keep your home to rent out. So what can you expect when putting your property on the rental market?
Property in the borough will generally be rented out for an average of £2,159 PCM, which is just above the average for other boroughs in South London. The amount you should achieve will depend largely on the type of property you have on offer as well as the number of bedrooms available.
Singular rooms achieve around £651 PCM, while flats will make you around £1,691 per month. Whole houses with two to three bedroom will generally bring in around £2,737 per month.
Buyer demographic in Merton
Merton is most popular among married or co-habiting couples working in the city. The average age is 36. Areas like Wimbledon will attract people working as managers and directors due to higher property prices and good travel links into London.
Merton property usually sells around 65 days from first being advertised. The highly demanded semi-detached properties are the quickest properties to be snapped up at just 54 days, while terraced houses will take 75 days.
While detached homes are advertised few and far between for Merton, these properties will still take 71 days to sell, as flats respectively take 64 days for contracts to be completed.
Similar locations to Merton
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