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The Housing Market in South East London – SE Postcodes

Local Property Guide

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If you’re thinking of buying a house in SE London, you’ll be pleased to know that it’s one of the more affordable areas in the capital. We’ve analysed data from Zoopla for the last 12 months to help you understand how far your money will go, and what area you should buy in.

Average Property Prices in SE London

According to recent estimates from Zoopla (March 2021), the current average value of houses in south east London is £522,876. To give you an idea of what you can get for your money in the area, we’ve broken down the average property price by house type:

  • Detached house: £970,196
  • Semi-detached house: £723,505
  • Terraced house: £756,791
  • Flat: £508,355

 

South East London’s Most Expensive Areas

All of these areas have increased in price over the last 5 years, to make them the most expensive places to buy a property in SE London.

Top of the list is Dulwich, SE21. It’s a popular choice for those who want a slower pace of life and a village feel. It’s just 5.5 miles from central London but feels worlds away thanks to its 7 areas of parkland, and thriving cafe culture. House prices average £439,688. Herne Hill is another expensive area in the south east, with houses selling for an average price of £969,048.

The SE1 postal district, South Eastern Central is another pricey area. This covers Bankside, South Bank, Lambeth, Southwark, Bermondsey, Vauxhall and Old Kent Road. You can expect to pay £854,275 for a house in one of these popular spots.

East Dulwich, SE22, is 5 miles south east of central London, sandwiched between Dulwich and Peckham. Young families love this area for its community feel and easy access to central London – London Bridge is just 15 minutes away on the overground. House prices here average £541,397.

Finally, Kennington rounds out our list of the most expensive places in SE London. The SE11 postcode district is just 2 miles from Trafalgar Square, and boasts outstanding schools and local, independent shops. House prices average £620,341.

South East London’s Cheapest Areas

The cheapest parts of SE London are amongst the most affordable places to buy a house in the whole of London. This includes Thamesmead, SE28, which is a largely residential area. Properties here average just £216,900. South Norwood is almost as affordable, with house prices averaging £309,682. This area, which is covered by the SE25 postcode, is another residential area, with frequent, fast trains to central London.

Abbey Wood, SE2, is another good option for those looking for more affordable properties. There are lots of three and four bedroom houses in this area, and the average selling price is £305,339.

Take a look at Woolwich, SE18, for another up-and-coming area, which is increasingly popular with young professionals. Properties average £429,583 and you’ll find a large number of new build flats, as well as period houses.

Anerley finishes off our list of the cheapest areas to buy in SE London. It’s within easy commuting distance to central London (overground trains take well under half an hour), and properties are some of the most affordable in the city, averaging £369,873.

Up-and-coming Areas in SE London

These areas have all seen an increase in house prices over the last 5 years, according to data from Zoopla. Make an investment by purchasing property in one of these south east London hotspots:

  • Thamesmead, SE28. Prices here average £216,900 which is a 10.13% increase.
  • Blackheath, SE3. Prices here average £479,388 which is a 9.27% increase.
  • Greenwich, SE10. Prices here average £486,030 which is an 8.08% increase.
  • Eltham, SE9. Prices here average £457,765 which is a 10.21% increase.

 

How Far Will Your Money Go in SE London?

Depending on where you choose to buy a house, the amount you’ll get for your money in south east London can vary. In Dulwich, a 3 bedroom terraced house can go for £420,402 whilst in Thamesmead, you can get the same type of 3-bed house for £244,777.

South East London Housing Market: Conclusion

In general, SE London is one of the cheapest areas in the city to buy a house. It’s a great choice for first-time buyers, young professionals and families looking to get more for your money. Property prices do vary between regions, but if you look in the right places, you can get a bargain.

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