Property prices in SM3 8: A closer look

A woman cycling in a South London park

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.

How SM3 8 compares to nearby postcodes

To provide more SM3 8 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
SM3 8 £5321.1 See our analysis on SM3 8 property prices
SM3 9 £5246.91 See our analysis on SM3 9 property prices

Location based factors in SM3 8 impacting the price of your property

Now that we’ve analysed how the price per square metre in SM3 8 has changed over time, let’s dig deeper into factors impacting the value of properties you may buy or sell.

Closeness to public amenities

Whilst the size of the garden and number of rooms meet buyers’ and sellers’ needs, proximity to conveniences also boosts a property’s value in SM3 8.

  • Transport
  • Hospitals
  • Schools
  • Restaurants & pubs

The above makes a big impact on price. We’ve gathered how your SM3 8 postcode sector is served per the above list in the table below.

Type of amenities Number in SM3 8
NHS Trusts (hospitals) 0
Practioners 35
Pharmacies 4
Schools 7
Shopping centres (within 5mi) 12
Public transports (train or tube stations) 0

Future developments around the neighbourhood

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 SM3 8 we’ve checked all the upcoming developments on the London’s mayor website and gathered everything in the following table.

Property values in SM3 8

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 SM3 8?

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

For houses

In SM3 8 in 2021, there were 87 houses sold. This represents an increase of 16.00% in house sales versus the prior year.
The chart below will assist in understanding the distribution of these prices, providing insight into the types and sizes of houses sold in SM3 8 in 2021.

After analysing the price distribution, we can examine the median price. Put simply, the median price splits the group of houses sold in 2021 in SM3 8 into two equal groups. In other words, it shows that 50% of the houses sold in 2021 went for over £5526.32.
This number alone may not be very informative unless compared to previous years. Refer to the table below to see how the median price has changed: versus 2020, versus 2018 (3 years prior), and versus 2016 (5 years ago):

Year Median Sqm Price inSM3 8 (in£) Growth Rate (in %)
2021 £5526.32 -%
2020 £5321.1 6.3%
2018 £5000 13.2%
2016 £4928.64 14.8%

Interpreting the table – example with 2018: In 2018, the median price per square metre for a SM3 8 house was £5000.0. Against the newest 2021 data, the median house price per square metre rose by 13.15%%. To initiate our property price guide, we want to summarise how costs are distributed in SM3 8 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 flats

In 2021, 31 flats sold in SM3 8 – a/an increase/decrease (choose one) of 29.17%% versus 2020. To better comprehend 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 useful snapshot, but the median price also offers insight. In 2021 the median price per square metre for a SM3 8 flat was £5000.0 – so 50% of flats sold for less.
Check the table below to observe how the median price evolved between 2016 and 2021.

Year Median Sqm Price inSM3 8 (in£) Growth Rate (in %)
2021 £5000 -%
2020 £4460.89 8.2%
2018 £5350.59 -9.8%
2016 £4653.85 3.7%

Understanding the table – example with 2020: In 2020, the median flat price per square metre in SM3 8 was £4460.89. Versus the most recent 2021 figures, the median flat price per square metre evolved by 6.32%%.

For other types of property

In addition to houses and flats, SM3 8 has seen some other property types change hands over the years, though these represent a small portion 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 in this group, please contact us for more details and insight. We’re happy to provide an accurate, tailored valuation.

Socioeconomic factors influencing property values in SM3 8

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

Household income & employment rates in SM3 8

Another factor impacting price is the area’s average household income. Prices tend to increase where incomes are rising. See below for SM3 8’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 SM3 8 property prices too.
The map below displays your sector’s employment rate.

Interest rates

In the last 5 years, Britain’s economic conditions have dramatically changed. Between 2019 and 2024, the Bank of England raised interest rates multiple times to address growing inflation and cool an economy recovering from post-covid measures.
Higher interest rates directly impact the property market by affecting buyers’ borrowing ability. At the same time, with fewer prospective buyers, potential sellers may wait to list for fear of lower prices.

Forecasting SM3 8 property prices in 2024-2025

At Jukes we’ve tried deciphering this puzzle for 35 years – honestly, no magic crystal ball accurately forecasts future prices. Too many elements drive costs, as you’ve read.
AI and machine learning are enhancing 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 SM3 8 properties. The chart also displays a yearly average price trendline. As you can see, an upward trajectory that in our opinion won’t change as of February 2024. Though the curve’s slope may shift ahead.

Property factors driving price rises in SM3 8

Property sizes

Clearly, floor area impacts the price you’ll sell or pay. To better grasp SM3 8, we’ve created charts below displaying property distributions by total floor space.
If you’re looking to invest or buy in SM3 8, this may provide insight on opportunities.

Total floor area distribution for SM3 8 houses

Total Floor area distribution for flats in SM3 8

Total Floor area distribution for other property types in SM3 8

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.”

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