Balham is one of the most sought after places to live in the country, according to research by a leading firm of estate agents.

More buyers are currently looking to find homes in this part of the borough than anywhere else, according to estate agents Haart.

The company found there were 46 registered buyers for every property in the SW12 postcode, compared with a London-wide average of 19 to one and a national figure of eight to one.

The news completes a remarkable turnaround for the suburb, which was described by Arthur Ransome, in his 1904 book Swallows and Amazons, as the “the ugliest and most abominable of London’s unpleasing suburbs”.

Agents said property prices in Balham offered great value for money to buyers, while the growing stature of boutique shops, bars and restaurants in its town centre was also a big pull.

A flurry of bar and restaurant openings – including, this summer, the latest outpost of pizzeria Franco Manca and the thriving annual comedy festival, taking place this week at the Bedford pub in Bedford Hill.

Wandsworth Council leader Ravi Govindia said: “Balham’s rapid growth in popularity is no surprise to us. It is home to some fantastic shops, bars and restaurants as well as its popular street market.

“It has the wonderful green open spaces of Tooting Common on its doorstep and is home to some amazing local schools. Its bus, Tube and rail links are pretty good too.

“Crime rates are very low, local services are among the best in the country and council tax bills are the lowest in the whole UK. When you bear all this in mind, it’s easy to understand why Balham is such a hotspot.”