Navigating property values in SM1 2

The busy South London stations

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.

Examining property prices in SM1 2

To initiate our property price guide, we want to summarise how costs are distributed in SM1 2 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

SM1 2 has seen other types of properties being sold over the years but these do not represent a large proportion of the properties sold in 2021. We’ve gathered these properties in the chart above to show you how the price per square metre is distributed for these properties.

If the property you are looking to buy or sell falls into this category, feel free to reach out to us for more details and information. We will be able to provide you with an accurate valuation.

For flats

In 2021, 62 flats were sold in SM1 2 – an increase/decrease (choose one) of 24.00%% 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 SM1 2 flat was £5142.4 – 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 inSM1 2 (in£) Growth Rate (in %)
2021 £5142.4 -%
2020 £5201.36 -7.2%
2018 £4789.78 0.8%
2016 £4925.83 -2%

Deciphering the table – example with 2020: In 2020, the median price per square metre for a SM1 2 flat was £5201.36. Versus 2021 figures, the median flat price per square metre changed by 11.80%%.

For houses

In SM1 2 in 2021, there were 116 houses sold. This represents an increase of 4.50% 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 SM1 2.

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 SM1 2 into two equal groups. In other words, it indicates 50% of houses sold in 2021 went for over £5392.9. 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 inSM1 2 (in£) Growth Rate (in %)
2021 £5392.9 -%
2020 £5060.24 11.8%
2018 £4896.37 15.5%
2016 £4888.89 15.7%

Understanding the table – example with 2018: In 2018, the median house price per square metre in SM1 2 was £4896.37. Compared to the latest 2021 data, the median house price per square metre increased by 15.55%%.

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 SM1 2?

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

Socioeconomic factors influencing the price of a property in SM1 2

Household income & employment rates in SM1 2

Another determiner of price is the area’s average household income. Prices often increase where incomes are rising. See below for SM1 2’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 SM1 2 property prices.
The map below displays the job 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 ability. At the same time, with fewer prospective buyers, potential sellers may wait to list for fear of lower prices.

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

Location factors impacting property prices in SM1 2

Now that we’ve looked at how the price per square metre in SM1 2 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 SM1 2 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 (SM1 2) is served according to the above list

Type of amenities Number in SM1 2
NHS Trusts (hospitals) 0
Practioners 43
Pharmacies 1
Schools 8
Shopping centres (within 5mi) 11
Public transports (train or tube stations) 1

Future developments around the neighbourhood

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 SM1 2 properties you may buy or sell, we’ve compiled all developments from the London mayor’s site into the table below.

Property factors driving price rises in SM1 2

Property features & built form

Features like built form, number of rooms, bathrooms etc. greatly affect price – more features mean higher prices. Recent features also increase value.
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

Clearly, floor area impacts the price you’ll sell or pay for. To better understand SM1 2, we’ve created charts below displaying property distributions by total floor space.
If you’re looking to invest or buy in SM1 2, this may provide insight into opportunities.

Total floor area distribution for SM1 2 houses

Total Floor area distribution for flats in SM1 2

Total Floor area distribution for other property types in SM1 2

Comparing SM1 2 with nearby postcodes

To provide more SM1 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 info for these areas:

Postcode sector Median Price per sqm (£, in 2020) See our analysis
SM1 1 £5370.37 See our analysis on SM1 1 property prices
SM1 2 £5060.24 See our analysis on SM1 2 property prices
SM1 3 £5136.36 See our analysis on SM1 3 property prices
SM1 4 £5047.36 See our analysis on SM1 4 property prices

Forecasting SM1 2 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 SM1 2, 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

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 *