A guide to property prices in SM5 1

Learn all about South London with our property guides

South London has seen major growth as a popular location for renters, first time buyers, and real estate investors. Here at Jukes, we want to analyse how property prices have changed over time and provide key insights to help you: sell or purchase a home at the optimal price.
In this guide we’ll examine macroeconomic factors impacting property values, and take a close look at price changes depending on the type of home you own or plan to acquire.
Note: The data in this article covers 2010 – 2021. We’re working to enhance this model and article with the most up-to-date 2023 figures.

Property prices in SM5 1

For flats

In 2021, 6 flats were sold in SM5 1 – an increase/decrease (choose one) of 0.00%% 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 SM5 1 flat was £4578.9 – 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 inSM5 1 (in£) Growth Rate (in %)
2021 £4578.9 -%
2020 £4984.05 -3.1%
2018 £5092.93 -5.2%
2016 £4282.66 12.7%

Deciphering the table – example with 2020: In 2020, the median price per square metre for a SM5 1 flat was £4984.05. Versus 2021 figures, the median flat price per square metre changed by 11.53%%.

To keep in mind

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 SM5 1?

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For houses

In SM5 1 in 2021, there were 113 houses sold. This represents an increase of 59.15% in house sales versus the previous year.
The chart below will assist in comprehending the distribution of these prices, providing insight into the types and sizes of houses sold in SM5 1 in 2021.

After analysing the price distribution, we can focus on the median price. Simply stated, the median price separates the group of houses sold in 2021 in SM5 1 into two equal groups. Put another way, it shows 50% of houses sold in 2021 went for over £5373.13. This number alone may not provide much value unless compared to prior years. Refer to the table below to observe how the median price has changed: versus 2020, versus 2018 (3 years before), and versus 2016 (5 years ago):

Year Median Sqm Price inSM5 1 (in£) Growth Rate (in %)
2021 £5373.13 -%
2020 £5072.46 11.5%
2018 £4940.08 14.5%
2016 £4765.67 18.7%

Deciphering the table – example with 2018: In 2018, the median price per square metre for a house in SM5 1 was £4940.08. Compared to 2021 data, the median house price per square metre rose by 14.52%%.

For other types of property

In addition to houses and flats, SM5 1 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. To start our property value guide, we want to summarise how prices are allocated in SM5 1 based on property type. To do this, we’ll inspect 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’s site. We then divide the price by the property’s area.
This gives us the exact price per square metre paid. We group these prices into brackets (£1000-£1500) showing a property sold for a price per square metre between £1000 and £1500.

Property elements driving price increases in SM5 1

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. To better grasp SM5 1, we’ve created charts below displaying property distributions by total floor space.
If you’re looking to invest or buy in SM5 1, this may provide insight on opportunities.

Total floor area distribution for SM5 1 houses

Total Floor area distribution for flats in SM5 1

Total Floor area distribution for other property types in SM5 1

Forecasting SM5 1 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 SM5 1 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.

Socioeconomic factors impacting property values in SM5 1

Household income and employment rates in SM5 1

Another factor determining the price of a property will be the average household income in the area. There is a positive correlation between the price growth in an area where the average household income increases.

Check out below where the household income in SM5 1 is as it may have a positive impact on the sale of your property.

As part of this socioeconomic analysis, we cannot forget to mention the employment rate. This is because it is also directly related to the household income we just mentioned. When looking at the data and trying to understand the correlation between the different factors and the price of a property in SM5 1, we see a clear correlation with the employment rate as well.

The map below shows you the employment rate in your sector.

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

Interest rates

Over the past 5 years the economic conditions in Great Britain have drastically changed. Between 2019 and 2024 the Bank of England raised its interest rate multiple times to face a growing inflation and cool down an economy that was recovering from post-covid measures.

Interest rates have a direct impact on the property market as it will impact the capacity for potential buyers to borrow money. At the same time, with less prospective buyers, potential sellers are less likely to sell amid the fear of selling for a lower price.

Comparing SM5 1 with nearby postcodes

To provide more context on SM5 1, we’ve done similar in-depth analysis 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
SM5 1 £5072.46 See our analysis on SM5 1 property prices
SM5 2 £5246.48 See our analysis on SM5 2 property prices
SM5 3 £5129.03 See our analysis on SM5 3 property prices
SM5 4 £5233.67 See our analysis on SM5 4 property prices

Location elements influencing property values in SM5 1

Closeness 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 SM5 1 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 (SM5 1) is served according to the above list

Type of amenities Number in SM5 1
NHS Trusts (hospitals) 1
Practioners 20
Pharmacies 5
Schools 10
Shopping centres (within 5mi) 11
Public transports (train or tube stations) 0

Now that we’ve looked at how the price per square metre in SM5 1 has changed over time, let’s explore elements impacting the value of properties you may buy or sell.

Future developments in SM5 1

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 SM5 1 properties you may buy or sell, we’ve gathered all upcoming developments from the London mayor’s website into the table below.

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