SINGAPORE (EDGEPROP) - The London borough of Wandsworth has become “one of the most exciting places” for UK property buyers, according to international agency One Global Group. Located in southwest London, the borough covers areas including Battersea, Balham, Putney, Tooting and Wandsworth Town.

According to the firm, residential property prices in Wandsworth have grown by 5.8% over the past 12 months — higher than the Inner London average of 4.3%.

Housing supply in Wandsworth is expected to ramp up in the coming years, with the borough to see 19,500 new homes over the next 10 years. Eli McGeever, director of research and technology innovation at One Global Labs, notes that this works out to an average of 1,950 new homes a year, higher than the annual average of 1,619 homes recorded for Wandsworth over the last 10 years.

Tooting, in particular, stands out as an upcoming area within Wandsworth as the district has been identified for strategic regeneration under the London Plan. “Regeneration areas typically outperform as more capital is invested and more life is brought to the area," McGeever explains.

The regeneration is expected to further boost Tooting’s rental market, which Greever highlights is supported by “highly affluent residents”. Data cited by One Global notes that take-home pay in the area is 37% higher than London as a whole. "Tooting already commands better rents and higher yields than the Wandsworth average,” he adds.

One Global is currently marketing a few projects in the Wandsworth area to Singapore buyers. One of these is Conflower House, a 20-unit apartment by UK developer Barratt London. Cornflower House is the latest apartment to debut at Springfield Place, Barratt London’s residential village development in Tooting. Prices at the development start from GBP471,00 ($768,144) for a two-bedroom unit.

Another development available for sale at Springfield Place is Pear Mews, a collection of five houses located off Springfield Drive. The double-storey houses with three bedrooms have a starting price of GBP1.07 million.

Once completed, Springfield Place will feature 232 one-, two- and three-bedroom apartments, and two- and three-bedroom houses, forming part of the wider 82-acre Springfield Village. “We’ve put a lot of focus on this borough because it offers residents a central London lifestyle at a fraction of the cost,” says Stuart Leslie, international sales and marketing director at Barratt London.

One Global also highlights that Tooting residents have convenient transportation access to the city. Tooting Bec Underground station has services to London Bridge in 18 minutes. Alternatively, Earlsfield railway station is 20 minutes on foot with national rail services heading to Waterloo in 13 minutes.