The London Borough of Merton is in south-west London, formed in 1965 when the Surrey towns of Mitcham, Wimbledon, Merton and Morden were merged to become a London Borough. It is mainly suburban with high levels of people commuting in and out of central London.
Merton is home to the world's oldest tennis tournament: Wimbledon. During the tournament fortnight around 500,000 people attend contributing around £30 million to the economy.
Some of Merton's districts are shared with the affluent neighbouring Royal Borough of Kingston upon Thames, London Borough of Croydon and London Borough of Sutton. Almost twice as much of Merton is open space, compared to the average in London.
Merton has approximately 86,339 dwellings, with 434 new homes built between April 2017 and March 2018.
Prices in Merton have remained flat over the last 12 months (+20% in the last 4 yrs.) and are currently £473k; which is less than the sw price of £630k. There have been 176 sales per month (on average) over the last 12 months (78 in Feb '19).
Rents in Merton have decreased by 1% in the last 12 months and are £1,605; which again is less that then sw price of £2,160. Given prices for the area, rental yields are 4%, which is in line with sw yields.
Merton borough had a population of 199,693 in the 2011 Census, this shows that the population has continued to grow, with an increase of 11,785 or 6.3% over 10 years.
The population of Merton as well as London as a whole is projected to continue to grow by 11% by 2030 (209k to 232k). Based on market activity, its estimated that 48.3% are renting within the Borough.
There are 11,225 businesses registered in Merton
Almost half of Merton's workforce is employed in the distribution, hotels, restaurants, banking, finance and insurance sectors, with around two thirds of the workers being employed in full time positions.
Median annual pay is £37,026 in the area, which is higher than London's £35,716.
There are several industrial parks across the borough including Mitcham's Willow Lane which employs more than 2,500 people and Wimbledon's Weir Road which employs around 260.
Merton borough has 46 Primary Schools, 8 secondary schools, 3 special schools, 12 independent schools and 2 independent special schools.
South Thames College. It is one of the largest further education colleges in London, having recently merged with Merton College and has centres based in the south west of London, with the main centres in Wandsworth, Merton & Tooting.
South Thames College has undergone significant improvements with over £140 million invested in recent years.
Situated on the A3, Merton has excellent access to the M25's junction 10.
Merton is served by a wide range of National Rail stations across the borough, as well as the London Underground's northern line and district line on the Wimbledon branch.
66million passengers travelled through Merton's railway stations in 2017
The proposed Crossrail 2 project intends to forge greater links between north and south London. The service intends to run from New Southgate via Euston and Victoria, Chelsea and Tooting to Wimbledon.
5 bedrooms; 2 bathrooms; 1 reception
Price: £750,000 Freehold
Rent: £2,600 pcm; £31,200 pa
Gross yield: 4.2%
Tenancy type: Ast
Tenancy start date: 08/11/2018
Tenancy end date: 07/11/2020
The documents relating to the property are the latest available at the date of listing. Certain documents may expire or become inaccurate over time.
Please note that prospective buyers will be required to pay a fee of £900 per unit to Vesta upon acceptance of an offer on this property. The seller of the property will also pay a fee to Vesta.
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