Decoding property prices in KT24 5

South London underground

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.

Property elements driving price increases in KT24 5

Property sizes

Naturally, floor area impacts the price you’ll sell or pay. To better grasp KT24 5, we’ve created charts below showing property distributions by total floor space.
If you’re looking to invest or buy in KT24 5, this may provide insight on opportunities.

Total floor area distribution for KT24 5 houses

Total Floor area distribution for flats in KT24 5

Total Floor area distribution for other property types in KT24 5

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.”

Location elements influencing property values in KT24 5

Future developments around

An area’s appeal can be measured by its number of upcoming or in-progress developments. More housing means more residents, raising demand. To see if this impacts KT24 5 properties you may buy or sell, we’ve compiled all developments from the London mayor’s site into the table below.

Closeness to public amenities

While the size of the garden or number of rooms align with buyers’ and sellers’ needs, proximity to conveniences also boosts a property’s value in KT24 5.

  • Transport
  • Hospitals
  • Schools
  • Restaurants & pubs

The above make a significant impact on price. We’ve summarised how your KT24 5 postcode sector is served per the above list in the table below.

Type of amenities Number in KT24 5
NHS Trusts (hospitals) 0
Practioners 0
Pharmacies 0
Schools 5
Shopping centres (within 5mi) 3
Public transports (train or tube stations) 1

Now that we had a look at how the price per square metre in KT24 5 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.

Deciphering property prices in KT24 5

Important note

What we’ve outlined here is an objective analysis of actual prices paid – not an explanation of what drives prices up or down. If you’re curious to learn about the many factors impacting your property’s value, review the information below.
And remember, only an agent deeply embedded in your local area possesses the knowledge to truly assess your property’s worth, or that dream home you hope to buy. They’re at the forefront of supply and demand there.

Looking to buy or sell your property in KT24 5?

Our team at Jukes gives you a valuation in less than 24h or help you find the properties you have been dreaming of

For houses

In KT24 5 in 2021, we saw 41 houses sold. This represents an increase of 13.89% in the sales of houses compared to the previous year.

The chart below will help you understand the distribution of these prices and thus can give you an idea of the type and size of houses that were sold in 2021 in KT24 5.

After looking at the price distribution, we can now lean on and have a look at the median price. The median price, simply put, divides the group of houses sold in 2021 in KT24 5 into two equal groups. Said differently, it tells you that 50% of the houses sold in 2021 were sold for more than £6517.09.

This number alone might not bring valuable information unless you compare it to the previous years. Have a look at the table below to see how the median price has evolved: versus the previous year (2020), versus 3 years before (2018) and versus 5 years ago (2016):

Year Median Sqm Price inKT24 5 (in£) Growth Rate (in %)
2021 £6517.09 -%
2020 £5516.13 2.6%
2018 £5269.68 7.4%
2016 £5295.08 6.8%

How to read this table, example with 2018: in 2018 the median price per square metre in KT24 5 for a house was 5269.68. Compared to 2021, the latest data available, we can see that the median house price per square metre has evolved by 7.36% %.

To start our property value guide, we want to summarise how prices are allocated in KT24 5 based on property type. To do this, we’ll inspect the price per square metre to assess the breakdown. We calculate the price per square metre by obtaining the price paid data from the Government’s site. We then divide the price by the property’s area.
This gives us the exact price per square metre paid. We group these prices into brackets (£1000-£1500) showing a property sold for a price per square metre between £1000 and £1500.

For other types of property

In addition to houses and flats, KT24 5 has seen some other property types change hands over the years, though these represent a small portion 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 in this group, please contact us for more details and insight. We’re happy to provide an accurate, tailored valuation.

For flats

In 2021, 2 flats were sold in KT24 5 – an increase/decrease (choose one) of -60.00%% over 2020. To better understand the price per square metre distribution and sizes/types of flats sold in 2021, we’ve put together the chart below.

While the price distribution provides a helpful snapshot, the median price also gives insight. In 2021, the median price per square metre for a KT24 5 flat was £4459.68 – meaning 50% of flats sold for less.
Refer to the table below to see how the median price changed between 2016 and 2021.

Year Median Sqm Price inKT24 5 (in£) Growth Rate (in %)
2021 £4459.68 -%
2020 £6076.92 -20.6%
2018 £6572.37 -26.5%
2016 £4327.35 11.6%

Interpreting the table – example with 2020: In 2020, the median price per square metre for a KT24 5 flat was £6076.92. Compared to the latest 2021 figures, the median flat price per square metre changed by 2.56%%.

Predicting KT24 5 property prices in 2024-2025

At Jukes we’ve tried solving this puzzle for 35 years – honestly, no magic crystal ball accurately predicts future prices. Too many factors drive costs, as you’ve read.
AI and machine learning are improving trend prediction models, but can’t yet account for external factors. The property market can quickly shift, as it has before.
That’s why we show 14 years of sales data – prices, sizes, and sale dates for KT24 5 properties. The chart also displays a yearly average price trendline. As you can see, an upward trajectory that in our view won’t change as of February 2024. Though the curve’s slope may shift ahead.

Socioeconomic factors influencing the price of a property in KT24 5

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

Household income & employment rates in KT24 5

Another determiner of price is the area’s average household income. Prices often increase where incomes are rising. See below for KT24 5’s household income level, as it may positively impact selling your property. We can’t exclude the job rate from this socioeconomic analysis. It directly relates to household income. The data also shows a clear correlation between the employment rate and KT24 5 property prices.
The map below displays the job rate in your sector.

Interest rates

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

How KT24 5 compares with nearby postcode sectors

To provide more context on KT24 5, we’ve done similar in-depth analysis on nearby postcode sectors too.
Check the table below and feel free to navigate around. You may find interesting opportunities and info for these areas:

Postcode sector Median Price per sqm (£, in 2020) See our analysis
KT24 5 £5516.13 See our analysis on KT24 5 property prices
KT24 6 £5487.55 See our analysis on KT24 6 property prices

Consider buying or selling in South London? Go with Jukes!

  • Trusted estate agent
  • More than 25 years of experience combined
  • We help you focus on your objective (investment, 1st time buy)

Leave a Reply

Your email address will not be published. Required fields are marked *