Property prices in SE8 3: A closer look

Learn all about South London with our property guides

South London is increasingly attractive for renters, first time home buyers, and real estate investors. At Jukes, our goal is to study how property values have shifted over time and offer key recommendations to assist you: sell or acquire a property at the best price.
In this guide we’ll analyse macroeconomic elements driving property prices, and closely examine price fluctuations depending on the type of property you own or hope to purchase.
Note: The data here encompasses 2010 – 2021. We’re updating this model and article with the newest 2023 data.

Comparing SE8 3 with nearby postcodes

To provide more SE8 3 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
SE8 3 £6183.82 See our analysis on SE8 3 property prices
SE8 4 £7144.07 See our analysis on SE8 4 property prices
SE8 5 £6014.12 See our analysis on SE8 5 property prices

Socioeconomic factors impacting property values in SE8 3

Household income and job rates in SE8 3

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 SE8 3 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 SE8 3, we see a clear correlation with the employment rate as well.

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

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.

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.

Property values in SE8 3

For flats

In 2021, 40 flats sold in SE8 3 – a/an increase/decrease (choose one) of -68.75%% versus 2020. To better grasp the price per square metre distribution and sizes/types of flats sold in 2021, we’ve created the chart below.

The price distribution provides a helpful snapshot, but the median price also offers insight. In 2021 the median price per square metre for a SE8 3 flat was £7091.68. This means 50% of flats sold for less than this.
See the table below to observe how the median price changed from 2016 to 2021.

Year Median Sqm Price inSE8 3 (in£) Growth Rate (in %)
2021 £7091.68 -%
2020 £7504.25 -35.7%
2018 £7156.19 -32.5%
2016 £6464.29 -25.3%

Understanding the table – example with 2020: In 2020, the median flat price per square metre in SE8 3 was £7504.25. Compared to the newest 2021 figures, the median flat price per square metre evolved by -8.51%%.

For houses

In SE8 3 in 2021, there were 8 houses sold. This represents an increase of 14.29% in house sales versus the previous year.
The chart below will assist in comprehending the distribution of these prices, providing insight into the types and sizes of houses sold in SE8 3 in 2021.

After analysing the price distribution, we can focus on the median price. Simply stated, the median price separates the group of houses sold in 2021 in SE8 3 into two equal groups. Put another way, it shows 50% of houses sold in 2021 went for over £6069.8. This number alone may not provide much value unless compared to prior years. Refer to the table below to observe how the median price has changed: versus 2020, versus 2018 (3 years before), and versus 2016 (5 years ago):

Year Median Sqm Price inSE8 3 (in£) Growth Rate (in %)
2021 £6069.8 -%
2020 £6183.82 -8.5%
2018 £5656.39 0%
2016 £6988.51 -19%

Deciphering the table – example with 2018: In 2018, the median price per square metre for a house in SE8 3 was £5656.39. Compared to 2021 data, the median house price per square metre rose by 0.02%%.

A quick note

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 SE8 3?

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

To initiate our property price guide, we want to summarise how costs are distributed in SE8 3 by property type. To accomplish this, we’ll examine the price per square metre to evaluate the breakdown. We determine the price per square metre by accessing the price paid data from the Government’s website. We then divide the price by the property’s size.
This provides the exact price per square metre paid. We categorise these prices into ranges (£1000-£1500) indicating a property was sold for a price per square metre falling between £1000 and £1500.

For other types of property

Beyond houses and flats, SE8 3 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.

Forecasting SE8 3 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 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 shift quickly, as it has in the past.
That’s why we show 14 years of sales data – prices, floor areas, and sale dates for SE8 3 properties. The chart also displays an average price trendline yearly. As you can see, an upward trajectory that in our view won’t change as of February 2024. But the curve’s slope may shift going forward.

Property factors driving price rises in SE8 3

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 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

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 SE8 3 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 SE8 3

Total Floor area distribution for flats in SE8 3

Total Floor area distribution for other property types in SE8 3

Location elements influencing property values in SE8 3

Now that we’ve looked at how the price per square metre in SE8 3 has changed over time, let’s explore elements impacting the value of properties you may buy or sell.

Proximity 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 SE8 3 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 (SE8 3) is served according to the above list

Type of amenities Number in SE8 3
NHS Trusts (hospitals) 0
Practioners 15
Pharmacies 2
Schools 7
Shopping centres (within 5mi) 20
Public transports (train or tube stations) 1

Check for future developments

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 SE8 3 we’ve checked all the upcoming developments on the London’s mayor website and gathered everything in the following table.

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

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

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