Property prices in SM3 9: A closer look

A view of South London terraced houses and their chimneys

With its increasing appeal among renters, first time buyers, and real estate investors, South London has witnessed significant development. At Jukes, our intention is to analyse how property prices have evolved over time and offer key guidance to assist you: sell or invest in a property at an ideal cost.
In this guide we’ll examine macroeconomic elements influencing property values, and closely inspect price changes based on the type of real estate you own or are looking to acquire.
Note: The data here covers 2010 – 2021. We’re updating this model and guide with the latest 2023 figures.

Property factors driving price rises in SM3 9

Property sizes

Naturally, floor area impacts the price you’ll sell or pay. To better grasp SM3 9, we’ve created charts below showing property distributions by total floor space.
If you’re looking to invest or buy in SM3 9, this may provide insight on opportunities.

Total floor area distribution for SM3 9 houses

Total Floor area distribution for flats in SM3 9

Total Floor area distribution for other property types in SM3 9

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.”

Forecasting SM3 9 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 SM3 9, 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

How SM3 9 compares to nearby postcodes

To help you get a better understanding of the SM3 9 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
SM3 8 £5321.1 See our analysis on SM3 8 property prices
SM3 9 £5246.91 See our analysis on SM3 9 property prices

Socioeconomic factors influencing the price of a property in SM3 9

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

Household income and job rates in SM3 9

Another price driver is the area’s average household income. Prices often rise where incomes are increasing. See below for SM3 9’s household income level, as it may positively impact selling your property. We can’t exclude the job rate from this socioeconomic analysis either. It directly relates to household income. The data shows a clear link between the employment rate and SM3 9 property prices too.
The map below displays your sector’s job rate.

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.

Property prices in SM3 9

To initiate our property price guide, we want to summarise how costs are distributed in SM3 9 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, 15 flats were sold in SM3 9 – an increase/decrease (choose one) of -37.50%% 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 SM3 9 flat was £4449.15 – 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 inSM3 9 (in£) Growth Rate (in %)
2021 £4449.15 -%
2020 £5148.71 -6.2%
2018 £5705.5 -15.4%
2016 £6756.76 -28.6%

Deciphering the table – example with 2020: In 2020, the median price per square metre for a SM3 9 flat was £5148.71. Versus 2021 figures, the median flat price per square metre changed by 7.83%%.

For other types of property

In addition to houses and flats, SM3 9 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.

A noteworthy notice

What we’ve outlined here is an objective analysis of actual prices paid – not an explanation of what impacts prices. If you want to learn about the many factors affecting your property’s value, review the information below.
And remember, only an agent deeply embedded in your local area has the knowledge to truly assess your property’s value, 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 9?

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 9 in 2021, we saw 169 houses sold. This represents an an increase of 55.05% 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 SM3 9.

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 SM3 9 into two equal groups. In other words, it indicates that 50% of the houses sold in 2021 went for more than £5500.0.
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 inSM3 9 (in£) Growth Rate (in %)
2021 £5500 -%
2020 £5246.91 7.8%
2018 £5058.82 11.8%
2016 £4978.26 13.6%

Understanding the table – example with 2018: In 2018, the median house price per square metre in SM3 9 was £5058.82. Versus the most recent 2021 data, the median house price per square metre increased by 11.83%%.

Location based factors in SM3 9 impacting the price of your property

Closeness to public amenities

Now that we’ve reviewed how the price per square metre in SM3 9 has shifted over time, let’s explore factors impacting the worth of properties you may buy or sell.

Closeness to public amenities

Whilst the size of the garden and number of rooms suit buyers’ and sellers’ needs, proximity to conveniences also enhances a property’s value in SM3 9.

  • Transport
  • Hospitals
  • Schools
  • Restaurants & pubs

The above considerably influences price. We’ve compiled how your SM3 9 postcode sector is served per the above list in the table below.

Type of amenities Number in SM3 9
NHS Trusts (hospitals) 0
Practioners 24
Pharmacies 3
Schools 10
Shopping centres (within 5mi) 12
Public transports (train or tube stations) 0

Future developments nearby

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 SM3 9 properties you may buy or sell, we’ve gathered all upcoming developments from the London mayor’s website into the table below. Now that we’ve looked at how the price per square metre in SM3 9 has changed over time, let’s explore elements impacting the value of properties you may buy or sell.

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 *