Decoding property prices in SM2 5

A map showing London. Learn more about the city's property market with our guide

South London is an up and coming area for renters, first time buyers and property investors. At Jukes we want to take a step back to analyse how property prices have evolved over time and give some key elements to help you: sell or buy your property at the right price.
In this guide we will look at macro economic factors influencing the price of a property but also take a deeper look at the evolution of prices depending on the type of property you own or you are looking to buy.
Note: the data shown in this article covers the period 2010 – 2021. We are working to improve this model and article with the latest data for 2023.

Property prices in SM2 5

For other types of property

Beyond houses and flats, SM2 5 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. To begin our property price guide, we want to provide an overview of how costs are distributed in SM2 5 based on property type. To do this, we’ll examine the price per square metre to assess the breakdown. We calculate the price per square metre by obtaining the price paid data from the Government site. We then divide the price by the property’s floor area.
This gives us the exact price per square metre paid. We categorise these prices into ranges (£1000-£1500) showing a property was sold at a price per square metre between £1000 and £1500.

For houses

In SM2 5 in 2021, we saw 57 houses sold. This represents an increase of 11.76% 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 SM2 5.

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 SM2 5 into two equal groups. Said differently, it tells you that 50% of the houses sold in 2021 were sold for more than £5530.3.

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 inSM2 5 (in£) Growth Rate (in %)
2021 £5530.3 -%
2020 £5045.05 12.1%
2018 £5000 13.2%
2016 £4742.05 19.3%

How to read this table, example with 2018: in 2018 the median price per square metre in SM2 5 for a house was 5000.0. Compared to 2021, the latest data available, we can see that the median house price per square metre has evolved by 13.15% %.

A quick note

What we’ve presented here is an objective analysis of real prices paid – not an explanation of what makes prices rise or fall. If you want to learn about the many factors impacting your property’s value, see the information below.
And remember, only an agent deeply rooted in your local area has the knowledge to truly assess your property’s value, or that dream home you hope to acquire. They’re on the front lines of supply and demand there.

Looking to buy or sell your property in SM2 5?

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For flats

In SM2 5 in 2021, 104 flats were sold. Compared to 2020, this is an increase of 0.97%%.

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 SM2 5 was £4632.56£. This means that when we look at the data, 50% of the flats sold in SM2 5 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 inSM2 5 (in£) Growth Rate (in %)
2021 £4632.56 -%
2020 £4831.46 -0.1%
2018 £4635.85 4.1%
2016 £4730.24 2.1%

How to read this table, example with 2020: in 2020 the median price per square metre in SM2 5 for a flat was 4831.46. Compared to 2021, the latest data available, we can see that the median house price per square metre has evolved by 12.14% %.

Location factors affecting property prices in SM2 5

Future developments around

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 SM2 5 we’ve checked all the upcoming developments on the London’s mayor website and gathered everything in the following table.

Now that we had a look at how the price per square metre in SM2 5 has changed over time let’s dig a little deeper in the factors that impact the price of the property you are looking to buy or sell.

Closeness to public amenities

While garden size and number of rooms meet buyers’ and sellers’ needs, proximity to conveniences also boosts a property’s worth in SM2 5.

  • Transport
  • Hospitals
  • Schools
  • Restaurants & pubs

The above significantly influences price. We’ve gathered how your SM2 5 postcode sector is served per the above list in the table below.

Type of amenities Number in SM2 5
NHS Trusts (hospitals) 0
Practioners 5
Pharmacies 0
Schools 6
Shopping centres (within 5mi) 8
Public transports (train or tube stations) 1

Socioeconomic factors impacting property values in SM2 5

Household income and employment rates in SM2 5

Another factor impacting price is the area’s average household income. Prices tend to increase where incomes are rising. See below for SM2 5’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 SM2 5 property prices too.
The map below displays your sector’s employment rate.

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.

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.

Forecasting SM2 5 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 SM2 5 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 related factors driving the prices up in SM2 5

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 SM2 5 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 SM2 5

Total Floor area distribution for flats in SM2 5

Total Floor area distribution for other property types in SM2 5

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.”

Comparing SM2 5 with nearby postcodes

To provide more SM2 5 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
SM2 5 £5045.05 See our analysis on SM2 5 property prices
SM2 6 £5377.66 See our analysis on SM2 6 property prices
SM2 7 £5820.27 See our analysis on SM2 7 property prices

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