Southwark House Prices: How have Southwark house prices changed?
Southwark is one of London’s most desirable neighbourhoods. With a rich heritage and numerous attractions, the area offers something for everyone. Southwark property prices are a hot topic for any investor or buyer looking to move to the area. Because of its desirability, with a convenient riverside location, Southwark has one of the best performing property markets in London.
In this article we look at how Southwark house prices have changed over the past twenty years.
The property portfolio in Southwark largely consists of flats. At the more affordable end of the market are several apartment blocks and ex-local authority properties built in the mid-20th century. These generally provide good value for money. At the top end of the market are modern riverside developments, providing glorious views across London with concierge and amenities. Southwark has a rich heritage and because of this, it has a solid number of period properties too. For example, some of London’s finest Georgian houses can be found around Elephant & Castle and Waterloo, while hugging the river are some converted warehouse properties with lofty interiors.
Southwark House Prices 2000
Back in 2000, the average property price in Southwark was £248,175 – this was up 40% on the decade before when prices were £177,268. This was the decade when the London property market started to separate itself from the rest of the UK. Between 1990-2000, the average property price in the UK went up 21% - in London it was 40%. Every decade since, the London property market has moved to its own rhythm, ahead of the rest of the UK. Southwark was one of the best places to invest during this period, a trend that has kept on going.
Southwark House Prices 2010
Back in 2010, the average property price in Southwark was £472,507 - this was up 90% on the decade before when prices were at £248,175. This was a period of great growth for London and the UK, as prices rose 117% nationally. Though the growth experienced in Southwark was slightly lower than that of the UK, the average property price in Southwark was almost three times the UK average. This means landlords in Southwark made far more on their property than those elsewhere.
Southwark House Prices 2020
In 2020, the average house price was £783,142 – a 66% rise increase on 2010 figures. Though this is less growth than that experienced in the previous decade, this figure is double that of the UK. This illustrates that the Southwark property market remains buoyant, bouncing back after periods of recession with price increases. Throughout the past twenty years, Southwark has proved itself as one of the best locations to invest in property in London.
Investing in Southwark
Southwark remains one of the best places to invest in London. Located in Zone 1, the local property market is resilient and can absorb shocks unlike other parts of the UK. Southwark is home to some of London’s best investment properties. If you’re interested in investing in Southwark, contact Hastings International. We can help you find the right investment property for you. Contact a member of our team today or browse our popular pages below.