Property values in BR3 1: What you need to know

The arty side of South London

As a popular destination for renters, first time purchasers, and real estate investors, South London has seen appreciable growth. At Jukes, we aim to delve into how property values have changed over the years and provide essential tips to help you: sell or buy a home at an optimal value.
In this guide we’ll study macroeconomic factors impacting property prices, and carefully inspect price variations based on the type of property you own or plan to obtain.
Note: The data in this piece includes 2010 – 2021. We’re enhancing this model and article with the most current 2023 information.

Forecasting BR3 1 property prices in 2024-2025

At Jukes we have been trying to solve this equation for the past 35 years and let’s be honest, no one has a magic crystal ball and can predict the future prices. The variables included in the prices as you have just read it are simply too many.

With the rise of machine learning and AI the models to predict trends are getting better but they cannot account for external factors yet and the property market can shit pretty quickly as it did in the past.

It is for this reason that we decided not to show any prediction but rather adopted the position of showing the trend over the past 14 years. The chart below shows you all the property sales that happened in BR3 1, their price, the floor area of the property and the date of sale. Additionally, this chart presents you with a trend line showing the average property price for the given year. As you can see there is an upward trend and in our opinion there is no reason that this trend should change as of February 2024. Nonetheless it’s the slope of the curve that may change in the future

Socioeconomic factors influencing property values in BR3 1

Interest rates

In the last 5 years, Britain’s economic conditions have dramatically shifted. Between 2019 and 2024, the Bank of England increased interest rates multiple times to address growing inflation and cool an economy recovering from post-covid measures.
Higher interest rates directly affect the property market by impacting buyers’ borrowing capacity. At the same time, with fewer prospective buyers, potential sellers may hesitate to list for fear of lower prices.

Beyond location, the property market also responds to economic and demographic factors like interest rates, population growth, and average household income.

Household income and employment rates in BR3 1

Another price driver is the area’s average household income. Prices often rise where incomes are increasing. See below for BR3 1’s household income level, as it may positively impact selling your property. We can’t exclude the job rate from this socioeconomic analysis either. It directly relates to household income. The data shows a clear link between the employment rate and BR3 1 property prices too.
The map below displays your sector’s job rate.

Analysing property values in BR3 1

First to start our property price guide we want to give an overview of how prices are distributed in BR3 1 on the type of property. To do so, we will look at the price per square metre to assess the distribution. To create the charts, we are calculating the price per square metre by getting the price paid data from the Government website. Then we divide the price by the surface area of the property.

Once this is done, it gives us the exact price per square metre paid and we finally categorise these prices into buckets (£1000-£1500) indicating that a given property has been sold with a price per square metre oscillating between £1000 and £1500.

To keep in mind

What we’ve outlined here is an objective analysis of actual prices paid – not an explanation of what impacts prices. If you want to learn about the many factors affecting your property’s value, review the information below.
And remember, only an agent deeply embedded in your local area has the knowledge to truly assess your property’s value, or that dream home you hope to buy. They’re on the front lines of supply and demand there.

Looking to buy or sell your property in BR3 1?

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For houses

In BR3 1 in 2021, there were 70 houses sold. This represents an increase of 27.27% in house sales compared to the previous year.
The chart below will help understand the distribution of these prices, giving insight into the types and sizes of houses sold in 2021 in BR3 1.

After reviewing the price distribution, we can examine the median price. Simply put, the median price separates the group of houses sold in 2021 in BR3 1 into two equal groups. In other words, it indicates 50% of houses sold in 2021 went for over £5733.18. This number alone may not provide much value unless compared to previous years. See the table below to observe how the median price has changed: versus 2020, versus 2018 (3 years before), and versus 2016 (5 years prior):

Year Median Sqm Price inBR3 1 (in£) Growth Rate (in %)
2021 £5733.18 -%
2020 £5832.68 -3%
2018 £5394.74 4.9%
2016 £5425.33 4.3%

Understanding the table – example with 2018: In 2018, the median house price per square metre in BR3 1 was £5394.74. Compared to the latest 2021 data, the median house price per square metre increased by 4.87%%.

For flats

In 2021, 87 flats were sold in BR3 1 – an increase/decrease (choose one) of 42.62%% over 2020.
To better grasp the price per square metre distribution and sizes/types of flats sold in 2021, we’ve assembled the chart below.

While the price distribution gives a helpful snapshot, the median price also provides insight. In 2021, the median price per square metre for a BR3 1 flat was £5416.67 – meaning 50% of flats sold for less than this. See the table below to view how the median price changed between 2016 and 2021.

Year Median Sqm Price inBR3 1 (in£) Growth Rate (in %)
2021 £5416.67 -%
2020 £5111.11 -5.5%
2018 £5117 -5.7%
2016 £5376.34 -10.2%

Deciphering the table – example with 2020: In 2020, the median price per square metre for a BR3 1 flat was £5111.11. Versus 2021 figures, the median flat price per square metre changed by -3.00%%.

For other types of property

Beyond houses and flats, BR3 1 has seen some other property types trade hands over the years, though these do not account for a large share of 2021 sales. We’ve compiled the price per square metre distribution for these assorted properties in the chart below.

If you’re looking to buy or sell a more unique property that falls into this category, please reach out for additional details and insight. We can provide an accurate valuation tailored to your specific situation.

Comparing BR3 1 with nearby postcodes

To provide more BR3 1 insight, we’ve done similar in-depth analysis on nearby postcode sectors too.
Review the table below and feel free to navigate around. You may uncover interesting opportunities and learnings for these areas:

Postcode sector Median Price per sqm (£, in 2020) See our analysis
BR3 1 £5832.68 See our analysis on BR3 1 property prices
BR3 3 £5227.27 See our analysis on BR3 3 property prices
BR3 4 £5861.11 See our analysis on BR3 4 property prices
BR3 5 £5834.55 See our analysis on BR3 5 property prices
BR3 6 £5803.9 See our analysis on BR3 6 property prices

Location factors affecting property prices in BR3 1

Closeness to public amenities

Now that we’ve reviewed how the price per square metre in BR3 1 has shifted over time, let’s explore factors impacting the worth of properties you may buy or sell.

Closeness to public amenities

Whilst the size of the garden and number of rooms suit buyers’ and sellers’ needs, proximity to conveniences also enhances a property’s value in BR3 1.

  • Transport
  • Hospitals
  • Schools
  • Restaurants & pubs

The above considerably influences price. We’ve compiled how your BR3 1 postcode sector is served per the above list in the table below.

Type of amenities Number in BR3 1
NHS Trusts (hospitals) 0
Practioners 15
Pharmacies 4
Schools 6
Shopping centres (within 5mi) 11
Public transports (train or tube stations) 3

Future developments around

The attractivity of an area can be measured partially via the number of ongoing or upcoming developments. Indeed with further housing developments an area is able to welcome more people to live around increasing the demand for the given area. To check if this has an impact on the property you are looking to buy or sell in BR3 1 we’ve checked all the upcoming developments on the London’s mayor website and gathered everything in the following table.

Now that we had a look at how the price per square metre in BR3 1 has changed over time let’s dig a little deeper in the factors that impact the price of the property you are looking to buy or sell.

Property factors driving price rises in BR3 1

Property sizes

Naturally, floor area impacts the price you’ll sell or pay. To better grasp BR3 1, we’ve created charts below showing property distributions by total floor space.
If you’re looking to invest or buy in BR3 1, this may provide insight on opportunities.

Total floor area distribution for BR3 1 houses

Total Floor area distribution for flats in BR3 1

Total Floor area distribution for other property types in BR3 1

Property features & built form

Features like built form, number of rooms, bathrooms etc significantly impact price – more and newer features mean higher prices.
For built form, we look at:

Built form Definition according to RCIS website
Detached “A detached house is a stand-alone residential structure that does not share outside walls with another house or building.”
Semi detached “A dwelling attached to another building or dwelling by one common party wall. Often each house’s layout is a mirror image of the other.”
End-Terrace “End of terrace used to describe a house situated at the end of a row of houses only joined on one side to a joining property.”
Mid-Terrace “Mid Terrace used to describe a house situated in the middle of a row of similar houses.”

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