A guide to property prices in SM7 2

A view of South London terraced houses and their chimneys

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.

So how property prices will evolve in SM7 2 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 SM7 2 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.

Examining property prices in SM7 2

A note of importance

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 SM7 2?

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To initiate our property price guide, we want to summarise how costs are distributed in SM7 2 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 houses

In SM7 2 in 2021, we saw 90 houses sold. This represents an increase of 55.17% 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 SM7 2.

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 SM7 2 into two equal groups. Said differently, it tells you that 50% of the houses sold in 2021 were sold for more than £5361.8.

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 inSM7 2 (in£) Growth Rate (in %)
2021 £5361.8 -%
2020 £4979.6 13.6%
2018 £4912.28 15.2%
2016 £4717.74 19.9%

How to read this table, example with 2018: in 2018 the median price per square metre in SM7 2 for a house was 4912.28. Compared to 2021, the latest data available, we can see that the median house price per square metre has evolved by 15.17% %.

For other types of property

Beyond houses and flats, SM7 2 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.

For flats

In 2021, 32 flats sold in SM7 2 – a/an increase/decrease (choose one) of 18.52%% 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 SM7 2 flat was £4804.4 – 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 inSM7 2 (in£) Growth Rate (in %)
2021 £4804.4 -%
2020 £4639.18 4.1%
2018 £4989.93 -3.3%
2016 £4711.67 2.5%

Understanding the table – example with 2020: In 2020, the median flat price per square metre in SM7 2 was £4639.18. Versus the most recent 2021 figures, the median flat price per square metre evolved by 13.61%%.

Location factors impacting property prices in SM7 2

Check for future developments

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 SM7 2 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 garden size and number of rooms meet buyers’ and sellers’ needs, proximity to conveniences also boosts a property’s worth in SM7 2.

  • Transport
  • Hospitals
  • Schools
  • Restaurants & pubs

The above significantly influences price. We’ve gathered how your SM7 2 postcode sector is served per the above list in the table below.

Type of amenities Number in SM7 2
NHS Trusts (hospitals) 0
Practioners 0
Pharmacies 3
Schools 5
Shopping centres (within 5mi) 4
Public transports (train or tube stations) 0

Now that we’ve looked at how the price per square metre in SM7 2 has changed over time, let’s explore elements impacting the value of properties you may buy or sell.

Property related factors driving the prices up in SM7 2

Property sizes

Clearly, floor area impacts the price you’ll sell or pay. To better grasp SM7 2, we’ve created charts below displaying property distributions by total floor space.
If you’re looking to invest or buy in SM7 2, this may provide insight on opportunities.

Total floor area distribution for SM7 2 houses

Total Floor area distribution for flats in SM7 2

Total Floor area distribution for other property types in SM7 2

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.”

Socioeconomic factors influencing the price of a property in SM7 2

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.

Household income and employment rates in SM7 2

Another determiner of price is the area’s average household income. Prices often increase where incomes are rising. See below for SM7 2’s household income level, as it may positively impact selling your property. We can’t exclude the job rate from this socioeconomic analysis. It directly relates to household income. The data also shows a clear correlation between the employment rate and SM7 2 property prices.
The map below displays the job rate in your sector.

Comparing SM7 2 with nearby postcodes

To help you get a better understanding of the SM7 2 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
SM7 1 £5186.88 See our analysis on SM7 1 property prices
SM7 2 £4979.6 See our analysis on SM7 2 property prices
SM7 3 £5327.16 See our analysis on SM7 3 property prices

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