Located within the Borough of Southwark, SE16 occupies a prominent position in South East London. It borders the River Thames to the north, creating a natural boundary that gives the area a distinct charm. SE16 covers several thriving neighbourhoods, including Bermondsey, Rotherhithe, Canada Water, and Surrey Quays. This unique location ensures that SE16 residents are well-connected to the riverside and are just a stone's throw away from the heart of the city.
In this guide, we'll provide comprehensive insights into the SE16 property market and tell you everything you need to know about living in this buzzing area.
SE16 Property Market
The SE16 property market has seen prices increase by around 9% over the last year, with an average property price of approximately £521,705. Despite the challenges posed by the pandemic, property prices in this area have continued to rise, demonstrating the area's appeal and resilience.
The range of amenities that SE16 offers, including restaurants, bars, cafes, and attractions like Surrey Docks Farm, Canada Water Library, and the Brunel Museum, are key drivers of the area's popularity. While the strong and interconnected community, range of local events and initiatives, as well as excellent school choices all combine to maintain SE16 as an appealing choice for families.
Interestingly, demand for terraced houses in SE16 has soared among prospective buyers. This preference shift shows that the area is becoming more popular with families.
Another prominent factor influencing the property market dynamic is the influx of young professionals into SE16. Drawn by its proximity to Canary Wharf and the vibrant nightlife it offers, these individuals contribute to the mounting demand for properties in the area.
SE16's identity as an urban enclave holds considerable appeal for those seeking the advantages of city living. While being conveniently near central London amenities, the area distinguishes itself with a more laid-back atmosphere. This blend of urban convenience makes SE16 a favourable location for individuals looking to enjoy the best of both worlds.
Property Types In SE16
In SE16, properties can be categorised into two main types: family homes and professional apartments.
Family homes are primarily situated centrally, set back from the river. Although some period properties remain, many were damaged during World War II. Riverfront flats, within modern apartment blocks or converted former wharves, are especially popular among young professionals working in Canary Wharf or the City.
On Rotherhithe Street, parallel to the Thames, you'll find Hays Court with its luxury apartments. Flats on the eastern side offer slightly more affordable options, like those in New Caledonian Wharf, Canada Wharf, Ivory Wharf, and Iceland Wharf.
SE16 also hosts many high-rise flats, some once council-owned, including Landmann House, Addy House, the lower-rise block on Raymouth Road, and the Irwell Estate.
The property landscape in SE16 includes flats and houses, from period terraces to warehouse conversions and upscale riverside apartments. The neighbourhood has experienced extensive regeneration and is uniquely positioned near Southwark Park, Stave Hill Nature Reserve, and Surrey Quays.
Highly sought-after, SE16 includes affordable housing near Canary Wharf. The most desirable flats and luxury apartments are on the River Thames. Former industrial structures have been transformed into spacious contemporary apartments boasting private balconies and panoramic views of Limehouse and Canary Wharf.
Areas surrounding Southwark Park and Stave Hill Nature Reserve are attractive for families and young professionals. These areas offer tranquil cul-de-sacs with Edwardian and Georgian terraces adjacent to green spaces. Small estates with two to three-bedroom semi-detached homes, private gardens, and off-street parking are also available.
For exceptional living, many opt for the riverside streets. Notably, Rotherhithe Street showcases grand townhouses with private garages, stucco facades, and captivating views of Limehouse.
Terraced houses, a typical architectural style across London, including SE16, are often in rows with shared side walls. SE16's architectural heritage shines with Georgian, Victorian, and Edwardian styles, characterised by stucco-fronted exteriors, bay windows, and intricate detailing. Modern apartment buildings present sleek lines, spacious windows, and contemporary amenities, further enriching the diverse SE16 landscape.
New-Build Properties in SE16
Like all former Dockland areas, the SE16 neighbourhoods underwent significant regeneration in the 1980s. New developments continue to bring luxury flats to the area, some of which have excellent shared ownership offers.
In Bermondsey, large housing developments on Grange Road and Newham’s Yard bring hundreds of well-appointed one to three-bedroom flats to the area. These new-builds and renovations combine office space, restaurants, and pedestrian areas.
Additionally, in Surrey Quays, new-build apartment blocks around Greenland Dock and South Dock continue to transform the area into a vibrant residential neighbourhood with views over the Quays and inland waterways. Other notable new builds in SE16 include Canada Water, Dockley Apartments, and Milli House on Ilderton Road.
Buying Property in SE16
SE16 is a popular area for buyers and investors for several reasons. With strong transportation links connecting it to various parts of London, easy commutes make it a highly desirable location for residents travelling to work or education institutions.
SE16 is also undergoing substantial regeneration, which is driving fresh investments into the area. This ongoing transformation is sure to have a positive influence on future property values, promising an appreciable increase over time.
Additionally, unlike pricier London counterparts, affordability is a feature of SE16 property. The comparatively low cost of property here positions the area as an attractive option for investors keen on optimising their returns within a reasonable investment landscape.
The diverse and vibrant lifestyle on offer also fuels a steady stream of renters, contributing to sustained demand for rental properties with impressive amenities that span retail outlets, dining establishments, bars, and cultural landmarks. The presence of nearby parks and green spaces also further enhances its appeal.
In addition, SE16 has several universities and colleges, making it a preferred destination for students. This substantially bolsters the demand for rental properties, perpetuating the area's attractiveness for investors and buyers alike.
Renting Property inSE16
SE16 is a popular area for renters who want to live close to Canary Wharf. Due to the wide range of housing stock, there is something to suit all budgets.
It’s worth remembering that SE16 is large, and rental prices vary significantly. For example, the cheapest area in SE16 to rent a one or two-bedroom flat is around £1,000 per month. At the other end of the scale, renting a luxury loft-style warehouse conversion with views over the Thames could cost up to £2,500 per month.
Renters who live in SE16 and work in the City of London or Canary Wharf save money and time on the daily commute. The journey to Canary Wharf is one stop from Canada Water, and there is a ferry between Surrey Quays and the financial district.
High demand and new residential developments in SE16 mean the area is attractive to investors who want to purchase a buy-to-let property.
Buildings of Significance in SE16
The Mayflower Pub can be found on Rotherhithe Street and is a classic English pub. This old building, dating back to the 16th century and designated as Grade II listed, is where the Pilgrim Fathers began their journey to America in 1620.
A well-loved spot for tourists, the Mayflower Pub is famous for its historical importance. The pub features various nods to the Mayflower Pilgrims and Captain Christopher Jones, including the list of passengers. Descendants of those on the Mayflower can sign the visitor's book, and interestingly, this is the only pub in England where you can buy stamps.
Inside, the Mayflower Pub has a traditional setup with a bar, restaurant, and beer garden. The menu serves classic British dishes like fish and chips, pie and mash, and steak and ale pie. The beer garden is a popular choice for outdoor dining, offering views of the River Thames.
Appealing to both locals and tourists, the Mayflower Pub is a great place to enjoy a pint of beer while learning about the history of the Mayflower Pilgrims.
Past Regeneration Projects
The Docklands were once a thriving industrial area, but they fell into decline after the Second World War. In the early 1980s, the British government decided to take action to revitalise the area. With a vision to revive London's Docklands, an area marred by the decline and cessation of dock activities, the 1980s initiative was well received. They established the LDDC, which was given the authority to redevelop the Docklands.
The LDDC made several key decisions in the early 1980s that helped to transform the Docklands. They invested in infrastructure, such as roads and railways, and attracted new businesses to the area. They also worked to improve the environment and create a more attractive place to live.
Fast forward a decade, and the 1990s redevelopment of South Dock stands as a pivotal chapter. The redevelopment of South Dock was a keystone in the overarching rejuvenation, creating contemporary residences, modern office spaces, and vital community facilities.
The redevelopment included the creation of inviting public spaces, the restoration of time-honoured architectural gems, and the revival of South Dock's heritage. It was essential to retain links to the area's storied shipbuilding past and the establishment of London's first enclosed dock in 1699. This compelling history draws a seamless line connecting the area's historical significance to its present.
As a result of past regeneration efforts, the Docklands has been transformed from a rundown industrial area into a thriving commercial and residential district. The area is now home to several major businesses, including HSBC and Canary Wharf. It is also a popular place to live, with a mix of new apartments and converted warehouses.
Regeneration Projects In SE16
New Bermondsey, in Lewisham, is undergoing a remarkable transformation from a 30-acre underused industrial site into a mixed-use community. Spearheaded by a collaboration between the London Borough of Lewisham, Lendlease, and the Greater London Authority, this redevelopment initiative is set to yield over 10,000 jobs and stimulate £1 billion in economic activity.
The ongoing first phase, slated for completion in 2025, includes constructing 1,500 new homes, a fresh park, and a school. Following this, the second phase, starting in 2026 and concluding in 2030, will introduce an additional 2,500 homes, along with a new commercial district and transport hub. These developments have the potential to revitalise the area, create a dynamic community, and make a significant impact on both Lewisham and the broader London region.
Key features of the New Bermondsey development include the creation of 3,000 new homes, a 10-acre park, a new school, a commercial district, and a transport hub. This ambitious project signifies a substantial investment in the future, bringing forth a fresh landscape and abundant opportunities for growth and prosperity.
In SE16, neighbours connect and enhance the local experience through shared and collaborative efforts.
MyClarion Housing: The projects organised enhance community life by providing a variety of community centres and activities that encourage engagement, interaction, and shared experiences among residents. These offerings play a vital role in fostering connections, promoting well-being, and strengthening the sense of belonging within the local community.
Lewisham Local: Lewisham Local actively supports the local community by championing and connecting local businesses, projects, and initiatives. They contribute to the community's vitality and well-being, fostering connections and collaborations that strengthen the area's unity and shared identity.
Lewisham Homes: Engaging the local community through diverse activities and initiatives that promote connections, interaction, and well-being. By offering opportunities for residents to participate and connect, they play a pivotal role in enhancing the community's vibrancy and fostering a sense of togetherness.
Meetup SE16: These groups are for local residents to connect through a variety of events and gatherings. By creating opportunities for shared interests and interactions, Meetup builds a strong sense of community and connection among residents.
The Tree Council: Actively promoting community well-being through environmentally conscious initiatives, enhancing the community's quality of life while encouraging a greener and more sustainable future.
Somerville Online: Nurtures community connections through various interactive programs and events, enhancing local bonds and contributing to a tightly-knit and active community.
SE16 is a well-connected area, containing a number of Underground stops, train stations and bus routes.
There are two Underground stations in SE16:
There are four train stations in SE16:
Several buses run from Surrey Quays station, including: 1, 47, 188, 199, 225, 381, N199, N381
From South Bermondsey Station, one bus route operates: P12
Three bus routes run from Rotherhithe Station: 381, C10, N381