Property prices in SE23 2: A closer look

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.

Predicting SE23 2 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 SE23 2 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.

How SE23 2 compares with nearby postcode sectors

To provide more SE23 2 insight, we’ve done similar deep dives on nearby postcode sectors too.
Check the table below and feel free to navigate around. You may find interesting opportunities and learnings for 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

Location factors impacting property prices in SE23 2

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 2 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

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 SE23 2.

  • Transport
  • Hospitals
  • Schools
  • Restaurants & pubs

The above make a significant impact on price. We’ve summarised how your SE23 2 postcode sector is served per the above list in the table below.

Type of amenities Number in SE23 2
NHS Trusts (hospitals) 0
Practioners 28
Pharmacies 1
Schools 9
Shopping centres (within 5mi) 19
Public transports (train or tube stations) 0

Now that we’ve analysed how the price per square metre in SE23 2 has changed over time, let’s dig deeper into factors impacting the value of properties you may buy or sell.

Socioeconomic factors influencing property values in SE23 2

After talking about location based factors, we can now focus on factors apparently not related directly to the property itself. Indeed, it’s well known that the property market reacts to economic & demographic signals such as the interest rates, the population growth but also the average household income of the area.

Household income and job rates in SE23 2

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 2 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 2, we see a clear correlation with the employment rate as well.

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

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.

Property elements driving price increases in SE23 2

Property features & built form

Features like built form, number of rooms, bathrooms etc. significantly impact price – the more features, the higher the price. Recent features also boost value.
For built form, we consider:

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

Clearly, floor area impacts the price you’ll sell or pay. To better grasp SE23 2, we’ve created charts below displaying property distributions by total floor space.
If you’re looking to invest or buy in SE23 2, this may provide insight on opportunities.

Total floor area distribution for SE23 2 houses

Total Floor area distribution for flats in SE23 2

Total Floor area distribution for other property types in SE23 2

Examining property prices in SE23 2

For houses

In SE23 2 in 2021, we saw 86 houses sold. This represents a decrease of -5.49% 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 SE23 2.

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 SE23 2 into two equal groups. Said differently, it tells you that 50% of the houses sold in 2021 were sold for more than £6545.68.

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 inSE23 2 (in£) Growth Rate (in %)
2021 £6545.68 -%
2020 £5844.16 -3.2%
2018 £5828.95 -2.9%
2016 £5606.06 0.9%

How to read this table, example with 2018: in 2018 the median price per square metre in SE23 2 for a house was 5828.95. Compared to 2021, the latest data available, we can see that the median house price per square metre has evolved by -2.94% %.

To kick off our property value guide, we aim to give a summary of how prices are spread in SE23 2 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 flats

In SE23 2 in 2021, 75 flats were sold. Compared to 2020, this is a decrease of -3.85%%.

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 2 was £6491.8£. This means that when we look at the data, 50% of the flats sold in SE23 2 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 2 (in£) Growth Rate (in %)
2021 £6491.8 -%
2020 £6086.4 -20.7%
2018 £6060.61 -20.3%
2016 £6128.68 -21.2%

How to read this table, example with 2020: in 2020 the median price per square metre in SE23 2 for a flat was 6086.4. Compared to 2021, the latest data available, we can see that the median house price per square metre has evolved by -3.19% %.

For other types of property

Beyond houses and flats, SE23 2 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.

A noteworthy notice

What we’ve outlined here is an objective analysis of real prices paid – not an explanation of what impacts prices. If you want to learn about the many factors affecting your property’s value, see the information below.
And remember, only an agent deeply embedded in your local area has the knowledge to accurately assess your property’s worth, 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 2?

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

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

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  • More than 25 years of experience combined
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