A guide to property prices in SE23 1

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.

Property values in SE23 1

Important note

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 SE23 1?

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

To kick off our property value guide, we aim to give a summary of how prices are spread in SE23 1 by property type. To accomplish this, we’ll analyse the price per square metre to evaluate the distribution. We determine the price per square metre by accessing the price paid data from the Government’s site. We then divide the price by the property’s square footage.
This provides the precise price per square metre paid. We group these prices into ranges (£1000-£1500) indicating a property sold for a price per square metre within £1000 to £1500.

For houses

In SE23 1 in 2021, there were 55 houses sold. This represents a decrease of -1.79% in house sales versus the prior year.
The chart below will assist in understanding the distribution of these prices, providing insight into the types and sizes of houses sold in SE23 1 in 2021.

After analysing the price distribution, we can examine the median price. Put simply, the median price splits the group of houses sold in 2021 in SE23 1 into two equal groups. In other words, it shows that 50% of the houses sold in 2021 went for over £6666.67.
This number alone may not be very informative unless compared to previous years. Refer to the table below to see how the median price has changed: versus 2020, versus 2018 (3 years prior), and versus 2016 (5 years ago):

Year Median Sqm Price inSE23 1 (in£) Growth Rate (in %)
2021 £6666.67 -%
2020 £6677.27 -15.3%
2018 £6496.06 -12.9%
2016 £6628.65 -14.7%

Interpreting the table – example with 2018: In 2018, the median price per square metre for a SE23 1 house was £6496.06. Against the newest 2021 data, the median house price per square metre rose by -12.91%%.

For flats

In SE23 1 in 2021, 47 flats were sold. Compared to 2020, this is a decrease of -9.62%%.

To better understand how the price per square metre is distributed and give you an idea of the size and types of flats sold in 2021, we have put together the chart below.

Looking at the price distribution is a great way to get a snapshot of how flats are distributed but it is now interesting to have a look at the median price. In 2021, the median price per square metre for a flat in SE23 1 was £6689.19£. This means that when we look at the data, 50% of the flats sold in SE23 1 were sold for less than that.

Have a look at the table below to get an idea of how the median price has changed between 2016 and 2021

Year Median Sqm Price inSE23 1 (in£) Growth Rate (in %)
2021 £6689.19 -%
2020 £6176.37 -21.8%
2018 £6115.9 -21.1%
2016 £6041.67 -20.1%

How to read this table, example with 2020: in 2020 the median price per square metre in SE23 1 for a flat was 6176.37. Compared to 2021, the latest data available, we can see that the median house price per square metre has evolved by -15.27% %.

For other types of property

Beyond houses and flats, SE23 1 has seen other property types trade hands over the years, though these make up a small portion of 2021 sales. We’ve shown the price per square metre distribution for these assorted properties in the chart below.

If you’re aiming to buy or sell a more unique property in this group, please contact us for additional insight and details. We can provide an accurate, tailored valuation.

Location factors impacting property prices in SE23 1

Future developments around

An area’s appeal can be measured by its number of upcoming or in-progress developments. More housing means more potential residents, raising demand. To see if this impacts SE23 1 properties you may buy or sell, we’ve compiled all planned projects from the London mayor’s website into the table below.

Closeness to public amenities

One major feature of a property may not necessarily be the size of the garden or the number of rooms. Obviously these correspond to your needs as a buyer, and landlord or a seller. What will truly bring value to your property in SE23 1 will also be its proximity to amenities.

The following ones make a significant impact on the price.

  • Transport
  • Hospitals
  • Schools
  • Restaurants & pubs

We have gathered in the following table how your postcode sector (SE23 1) is served according to the above list

Type of amenities Number in SE23 1
NHS Trusts (hospitals) 0
Practioners 45
Pharmacies 1
Schools 5
Shopping centres (within 5mi) 19
Public transports (train or tube stations) 1

Now that we’ve reviewed how the price per square metre in SE23 1 has shifted over time, let’s explore factors impacting the worth of properties you may buy or sell.

How SE23 1 compares with nearby postcode sectors

To help you get a better understanding of the SE23 1 area, we’ve also put together a similar deep dive analysis on the nearby postcode sectors.

Have a quick look at the following table and don’t hesitate to navigate around. You might find interesting opportunities and learnings on these areas:

Postcode sector Median Price per sqm (£, in 2020) See our analysis
SE23 1 £6677.27 See our analysis on SE23 1 property prices
SE23 2 £5844.16 See our analysis on SE23 2 property prices
SE23 3 £6702.9 See our analysis on SE23 3 property prices

Socioeconomic factors impacting property values in SE23 1

Interest rates

Over the past 5 years the economic conditions in Great Britain have drastically changed. Between 2019 and 2024 the Bank of England raised its interest rate multiple times to face a growing inflation and cool down an economy that was recovering from post-covid measures.

Interest rates have a direct impact on the property market as it will impact the capacity for potential buyers to borrow money. At the same time, with less prospective buyers, potential sellers are less likely to sell amid the fear of selling for a lower price.

Household income & employment rates in SE23 1

Another factor determining the price of a property will be the average household income in the area. There is a positive correlation between the price growth in an area where the average household income increases.

Check out below where the household income in SE23 1 is as it may have a positive impact on the sale of your property.

As part of this socioeconomic analysis, we cannot forget to mention the employment rate. This is because it is also directly related to the household income we just mentioned. When looking at the data and trying to understand the correlation between the different factors and the price of a property in SE23 1, we see a clear correlation with the employment rate as well.

The map below shows you the employment rate in your sector.

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

Property factors driving price rises in SE23 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.”

Property sizes

Obviously when looking at buying the floor area of the property has a direct impact on the price you’ll be selling at or paying for. In order to get a clearer picture of SE23 1 we have come up with the following charts showing the distribution of properties depending on their total floor area.

Total Floor area distribution for houses in SE23 1

Total Floor area distribution for flats in SE23 1

Total Floor area distribution for other property types in SE23 1

So how property prices will evolve in SE23 1 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 variables 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 SE23 1 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.

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 *