Downsizing in Cannon Hill: What You Would Actually Release
Selling at the £750,000 Cannon Hill average and buying at £525,000 releases about £194,800 after costs. Fees, stamp duty and moving take roughly £30,200 of it.
The introduction costs you nothing. If you go ahead, we may be paid a fee by the firm we introduce you to. There is no obligation.
Selling at the £750,000 Cannon Hill average and buying at £525,000 releases about £194,800 after costs. Fees, stamp duty and moving take roughly £30,200 of it.
The downsizing sum for Cannon Hill
Start with the gap. Selling at £750,000 and buying at 70% of that, £525,000, leaves £225,000 before costs. Costs are the part people underestimate.
Agent fees at 1.5% are £11,250. Stamp duty on the purchase is £16,250. Total £30,200, leaving £194,800 in hand.
Where the sale proceeds go
The commercial page for this town sets out the introduction itself: Equity release in Cannon Hill.
Two routes to the same cash, priced
A lifetime mortgage at 65 on the same property would release about £255,000. Downsizing nets £194,800. The difference is that downsizing costs you the house, and equity release costs you the estate.
Over twenty years that £255,000 release grows to roughly £898,529. The downsizing figure does not grow at all, because there is no debt.
What the move costs beyond money
Council tax follows the property, not the person. Band D in Cannon Hill is £2,141, and a smaller home may sit in a lower band. Check the band before you offer, not after.
Downsizing works best when you are not in a hurry.
Moving within London rather than out of it keeps you near family and known services. The average price across the county towns we cover is £732,469, against £750,000 here.
What a move within Cannon Hill looks like
The schools families ask about here are Joseph Hood Primary School, St Matthew's CofE Primary School, West Wimbledon Primary School, Merton Park Primary School and Rutlish School. 3 local schools were rated Good or Outstanding overall at their most recent graded Ofsted inspection. Ratings age between inspections, so read the latest report before you rely on one.
On getting about: Transport in Cannon Hill is a real strength, mainline trains and a Tube option, both close by. These indicative times are a starting point, always verify current timetables before relying on a specific journey.
By price, Cannon Hill ranks 84 of the 320 London locations we cover, at £750,000 against a county average of £732,469. Band D council tax here is £2,141, against an average of £2,121 across the towns we cover in the county.
Is Cannon Hill right to stay in?
Cannon Hill is a quiet, leafy interwar residential pocket around Cannon Hill Common.
The full local guide covers schools, transport and the market in detail: Cannon Hill property and area guide.
- A quiet, leafy interwar residential pocket
- Cannon Hill Common (lake & nature reserve) on the doorstep
- Mainline trains and the Northern line nearby
- Good local schools nearby
- Classic 1930s family housing
- A settled pocket at solid south-west London prices
- No station within the area itself
- Traffic on the A24 and A3 nearby
- Competitive area for school places
- Flats need lease checks
| Who it suits | Out of five | Why |
|---|---|---|
| Downsizers | ★★★☆☆ | Flats and smaller homes near the common and the stations suit downsizers wanting green space and connectivity, check the lease and service charge on a flat. |
| Families | ★★★★★ | Good local schools (Joseph Hood Primary, St Matthew's CofE and West Wimbledon Primary are Good; Rutlish and Merton Park Primary were judged Outstanding across their latest inspections), Cannon Hill Common and the Sir Joseph Hood playing fields, and a fast commute, a strong family pocket. |
| Upsizers | ★★★★★ | Classic interwar semis and larger detached houses on the best streets near the common give real family space and gardens, at solid prices, with schools, green space and a fast commute. |
| Commuters | ★★★★☆ | Raynes Park and Motspur Park (South Western Railway to Waterloo) plus the Northern line at Morden give both mainline trains and a Tube into the City and West End, a strong combination, though there is no station within Cannon Hill itself. |
| First-time buyers | ★★★☆☆ | Flats (often around £350,000 to £500,000) offer a way into a leafy, well-connected Merton pocket, but house prices are firmly at solid London levels. |
Cannon Hill is known locally for Cannon Hill Common, and Wimbledon Common nearby. The Merton Council-managed common with its lake, woodland and local nature reserve, the defining green space of the area and a much-loved slice of nature on the doorstep.
Practical detail for Cannon Hill: the SW20 postcode district, no station within Cannon Hill; Raynes Park & Motspur Park (SWR to Waterloo, Zone 4) and Morden (Northern line terminus, Zone 4) close by and nearest A and E is St George's, Tooting or Kingston Hospital (a drive), verify with NHS.
Cannon Hill has history behind the price. In Earlier centuries, A low rise of fields and common land on the old Merton and Morden borders, with Cannon Hill Lane as the way across.
Cannon Hill at a glance
| Downsizing line | Cannon Hill figure |
|---|---|
| Sale price, local average | £750,000 |
| Purchase at 70% of value | £525,000 |
| Estate agent at 1.5% | £11,250 |
| Stamp duty on purchase | £16,250 |
| Legal and moving | £2,700 |
| Total costs | £30,200 |
| Net released | £194,800 |
| Lifetime mortgage alternative at 65 | £255,000 |
Figures are local averages used for illustration. Confirm your own numbers before acting on them.
Ask about Cannon Hill
Three details is all we need. You are told before anything is passed to a partner firm.
Your checklist
- A real valuation of your home, not the £750,000 average
- The council tax band of the property you are buying
- Total moving costs of about £30,200
- The equity release comparison, in writing, before you decide
The introduction costs you nothing. If you go ahead, we may be paid a fee by the firm we introduce you to. There is no obligation.
Check broadband before you make an offer in Cannon Hill
Broadband speeds can vary street by street in Cannon Hill, so check the exact address before you commit. Ofcom's free checker shows which broadband speeds and mobile coverage are available at any UK property.
We can introduce you to a specialist who can combine your mobile, broadband and utilities into one bill. There's no fee for the introduction.
We don't provide these services ourselves. Switching household bills is not a regulated financial service, so FCA protections and the Financial Ombudsman do not apply. We'll only pass your details to the specialist if you ask us to. See our privacy notice.
Questions people ask
How much would I release by downsizing in Cannon Hill?
Is downsizing better than equity release?
What are the costs of moving?
How do I check broadband speed at a property in Cannon Hill?
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