World events normally have little impact on everyday life in Wimbledon Village. The effects of the recent upheaval in the Chinese stock market was certainly not felt on Saturday when Wimbledon Village Stables celebrated its 35th birthday with a Wild West themed party.
In fact, we doubt whether any visitor to the stables gave a second thought to the fact that Chinese shares have lost 20% of their value since mid-June as they tucked into their hog roast and worked off the feast during a barn dance.
However, Chinese investors seeking a safe haven for their remaining funds are looking to invest in overseas property and Wimbledon is on their list of desirable London locations.
The amount of money some of these investors have available could push up the value of the most desirable properties in Wimbledon Village, where demand continues to outstrip supply.
According to data obtained from Bank of America Merrill Lynch, major shareholders sold about £36bn worth of Chinese yuan in the first five months of 2015 alone, compared with about £19bn the previous year and £10bn on average every year prior to 2014.
Since 2000, China has been the source of the world’s largest outflow of high net worth individuals. About 91,000 people from China applied for second citizenship between 2000 and 2004, according to residence investment broker Lio Global, while in the 12 months to September 2014 the UK government issued 357 investor visas to Chinese nationals – almost double the 178 visas issued over the previous 12 months.
Many of the new wave of Chinese investors, spooked by the downturn of the Shanghai stock market, will not have previously considered moving their wealth overseas.
As a destination in London, Wimbledon will be among their favoured areas because its tennis tournament makes this part of the capital a global brand. While Mayfair may be known among property investors from Asia, other parts of central London are considered an unknown quantity.
It is easy to see why high-value properties in and around Wimbledon Village appeal to a global audience. Not only does Wimbledon offer a wealth of amenities, from top-class educational establishments such as King’s College School and Wimbledon Girls’ High School to great transport links, superb shopping facilities and the capital’s largest Common, many of its properties suit Asian tastes.
Discerning property hunters who approach estate agents in Wimbledon often target the handsome and substantial Victorian and Edwardian villas and townhouses on peaceful, tree-lined roads in Wimbledon Park, while the 1930s homes on the private Drax Estate in West Wimbledon and popular streets close to Cottenham Park, south of the Common, benefit from a variety of green space. Coombe, just a short distance away on the upper reaches of Kingston Hill, is also one of London’s premier addresses with its rich array of large contemporary and period houses and mansions in a secluded network of private roads.
Here at Robert Holmes, we have an in-depth knowledge of property and the local amenities throughout Wimbledon and the surrounding areas of south-west London. We have been helping vendors maximize the value of their properties for more than 27 years and have a database of would-be purchasers waiting to view your home. For an up to date valuation of your property, contact us today.