Property prices in SM1 3: A closer look

The arty side of South London

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.

Location factors impacting property prices in SM1 3

Now that we’ve reviewed how the price per square metre in SM1 3 has shifted over time, let’s explore factors impacting the worth of properties you may buy or sell.

Future developments around

An area’s popularity can be gauged by its number of planned or in-progress developments. More housing means more residents, increasing demand. To see if this impacts SM1 3 properties you may buy or sell, we’ve gathered all upcoming developments 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 SM1 3.

  • Transport
  • Hospitals
  • Schools
  • Restaurants & pubs

The above make a significant impact on price. We’ve summarised how your SM1 3 postcode sector is served per the above list in the table below.

Type of amenities Number in SM1 3
NHS Trusts (hospitals) 0
Practioners 0
Pharmacies 2
Schools 4
Shopping centres (within 5mi) 11
Public transports (train or tube stations) 1

Forecasting SM1 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 quickly shift, as it has before.
That’s why we show 14 years of sales data – prices, sizes, and sale dates for SM1 3 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.

Property factors driving price rises in SM1 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

Clearly, floor area impacts the price you’ll sell or pay. To better grasp SM1 3, we’ve created charts below displaying property distributions by total floor space.
If you’re looking to invest or buy in SM1 3, this may provide insight on opportunities.

Total floor area distribution for SM1 3 houses

Total Floor area distribution for flats in SM1 3

Total Floor area distribution for other property types in SM1 3

Comparing SM1 3 with nearby postcodes

To help you get a better understanding of the SM1 3 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
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

Examining property prices in SM1 3

A note of importance

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 SM1 3?

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

First to start our property price guide we want to give an overview of how prices are distributed in SM1 3 on the type of property. To do so, we will look at the price per square metre to assess the distribution. To create the charts, we are calculating the price per square metre by getting the price paid data from the Government website. Then we divide the price by the surface area of the property.

Once this is done, it gives us the exact price per square metre paid and we finally categorise these prices into buckets (£1000-£1500) indicating that a given property has been sold with a price per square metre oscillating between £1000 and £1500.

For flats

In SM1 3 in 2021, 36 flats were sold. Compared to 2020, this is a decrease of -7.69%%.

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 SM1 3 was £4638.08£. This means that when we look at the data, 50% of the flats sold in SM1 3 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 inSM1 3 (in£) Growth Rate (in %)
2021 £4638.08 -%
2020 £4736.84 1.9%
2018 £4836.07 -0.2%
2016 £4524.59 6.7%

How to read this table, example with 2020: in 2020 the median price per square metre in SM1 3 for a flat was 4736.84. Compared to 2021, the latest data available, we can see that the median house price per square metre has evolved by 10.15% %.

For other types of property

Beyond houses and flats, SM1 3 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.

For houses

In SM1 3 in 2021, we saw 144 houses sold. This represents an an increase of 19.01% in house sales compared to the prior year.
The chart below will help you comprehend the distribution of these prices and thus can provide an idea of the types and sizes of houses that were sold in 2021 in SM1 3.

After examining the price distribution, we can now focus on the median price. Simply put, the median price divides the group of houses sold in 2021 in SM1 3 into two equal groups. In other words, it indicates that 50% of the houses sold in 2021 went for more than £5396.37.
This number alone may not be very informative unless you compare it to previous years. Have a look at the table below to see how the median price has changed: versus 2020, versus 2018 (3 years before), and versus 2016 (5 years ago):

Year Median Sqm Price inSM1 3 (in£) Growth Rate (in %)
2021 £5396.37 -%
2020 £5136.36 10.1%
2018 £5000 13.2%
2016 £4842.37 16.8%

Understanding the table – example with 2018: In 2018, the median house price per square metre in SM1 3 was £5000.0. Versus the most recent 2021 data, the median house price per square metre increased by 13.15%%.

Socioeconomic factors influencing property values in SM1 3

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.

Household income and job rates in SM1 3

Another factor impacting price is the area’s average household income. Prices tend to increase where incomes are rising. See below for SM1 3’s household income level, as it may positively influence selling your property. We can’t exclude the employment rate from this socioeconomic analysis. It directly relates to household income. The data shows a clear correlation between the job rate and SM1 3 property prices too.
The map below displays your sector’s employment rate. Apart from location, the property market also reacts to economic and demographic factors like interest rates, population growth, and average household income.

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)

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