Lewisham house prices rise with inner core

Via LondonLovesBusiness comes this interactive map of London, which shows how house prices have changed over the last three years, in each borough. No real surprises - but what it shows clearly is that the inner London boroughs are becoming increasingly expensive, both in absolute terms and relative to the outer suburbs, as the wealthy get displaced from central London by the super rich and move to the nicest spots further down the road.

It's a phenomenon discussed by Ben Rogers in The FT, who argues that we need to adapt by creating dense new urban centres beyond Zone 1:

We should raise our ambitions for areas beyond central London and create new places in the spirit of the West End. The Olympic Park, for which five new residential neighbourhoods are planned, presents a fantastic opportunity. It is well connected to central London and beautifully landscaped... 

We should be looking at intensifying the suburbs, which account for three-quarters of London’s footprint but fewer than half of its homes. Doubling the density of just 12 per cent of this footprint would meet London’s requirement for 400,000 new homes in the next 20 years.

As you can see from this map, population density in Brockley and Lewisham hardly changed at all between 2001-11 and remains comparatively low for inner London. The employment density map also confirms that South East London is a jobs desert. If we are to create 'new West Ends', the jobs will need to come too. Whether jobs are a cause or effect of greater density is an interesting question.

31 comments:

Tim Arnold said...

The population density in Brockley is just right as it is, thanks very much. The last thing we want is to be a 'new West End'...

Anon said...

Those West End boroughs seem to have higher crime rates.

D said...

With a higher density comes higher footfall, this would in turn bring better shops. BC isn't exactly a retail Mecca...

Brockley Nick said...

I don't think anyone is proposing Brockley should become the new West End. I think Brockley's density will have to increase (it already is if you look at the development around the station) because London's density has to increase. But as I've argued ad nauseum before, I think this is likely to be a good thing.

Brockley Nick said...

This.

Brockley Nick said...

Millions of tourists, shoppers, nightclub revellers, etc, etc. Sure, crime is going to be much higher. Everything is much more pronounced in the centre.

Tiri said...

Can you elaborate on what you define as a good thing? Surely there would be downsides? Brockley's charm is it's village like character, wouldn't the sort of changes you describe dramatically alter that?

maisie_moo said...

My impression is that Brockley property prices have gone up even more than is shown by that map - especially smaller properties. The average asking price for a flat in Brockley is now £350k - no wonder first time buyers are struggling.

Brockley Nick said...

I have a few times, on threads like this one http://brockleycentral.blogspot.co.uk/2012/08/brockleys-reckoning.html and this one http://brockleycentral.blogspot.co.uk/2010/03/people-be-not-afraid.html


To be clear, I am not arguing for huge density growth in Brockley - there isn't the space. But there are lots of little bits of infill going on which will add considerably to the number of people living here. And people are what make cities great. More people means more life, more groups, more activities, more energy, more demand for shops and pubs, means more choice. I think you can do all of that without losing any of the character of Brockley. We've seen a significant population rise in Brockley since the ELL's arrival and any cursory glance at the threads on here will show that it's only incresed the volume of informal "villagey" things taking place in the area.


"Villagey" is a nebulous term. I think we mean villagey in the sense that there is a strong sense of local identity and plenty of opportunity to get to know your neighbours. I think that remains and has perhaps intensified.

jobs said...

no jobs in the south east?


I would like to read about Mayor Bollocs & company strategy to turn lewisham into an employment magnet.

Pareto said...

The population density of Brockley is similar to that of Hampstead and Dagenham. It isn't just about numbers of people, the numbers in their bank accounts matter too.

Headhunter said...

I certainly support increasing density within London's existing boundaries before pushing further and further out into greenfield land but I think density needs to be increased sensitively. Filling in derelict land around SE London is ideal - there seems to be a fair amount of it. Reclassifying gardens as brownfield and building all over them is not, IMO, a good idea...

Headhunter said...

Personally I couldn't give much of a cr@p about better shops if it means building all over large gardens...

Headhunter said...

I think they have. I should think Brockley house prices outperform a lot of areas but the map shows Brockley within the context of Lewisham and across the rest of the borough prices prob haven't risen as much

Brockley Nick said...

Where in Brockley have gardens been reclassified as brownfield and built over? I'm not aware of those cases, but - like you - I would oppose that.

Brockley Nick said...

Agreed. But not just incomes - attitudes too. You don't have to be wealthy, you have to love and respect your area.

maisie_moo said...

Yes, I wasn't suggesting the map was wrong - just unrepresentative of Brockley. According to Zoopla prices have gone up nearly 12% in SE4 in the last 3 years, compared to 7.5% for Lewisham as a whole (per the NatWest map). Even 12% seems low to me - I bought a property last year and the current asking prices for similar properties are at least 15% higher than they were then.

Headhunter said...

There has been development along Ashby and Wickham Mews that I am aware of, there may be more that I haven't seen yet but certainly there hasn't been a mass move to develop the mews/gardens yet. However hasn't the coalition government made it easier in general to build on gardens by reclassifying them as brownfield?

Headhunter said...

Yes, 2 bed garden flats have risen from around £230-250k in 06 to around £330-350k now it seems judging by estate agent websites...

Headhunter said...

I agree with this, It often seems that people in areas like Hampstead are more willing to take a stand and make their opinions known about their area. People with money often seem to be a bit pushier...

RB said...

AKA 'NIMBY'

Goat said...

The odd road facing corner garden gets developed but I don't see how 99% of blocked gardens in Brockley are threatened.

We need more houses the current prices are ridiculous.

Headhunter said...

AKA "actually giving a sh!t about where you live"

Tarry Ol'Mac said...

There are houses in SE6 within a crumbling Victorian brick of a million quid. I'll say that again - A Million Freeking Quid For A House In SE6.
Perhaps you should move.

Arthur's Daily Male said...

Let me get this straight - this article is all about house prices right?
Have houses got hearts too? Seriously - Did I miss something?

Brockley Nick said...

Maybe Pareto's comment?

Anon said...

See tonight's Standard property pages about London villages such as Hampstead and....Hither Green Village.
"The area wins village points for its community spirit..."
Which has created an award winning garden, a cinema, WI, wine club etc. etc.

Concerned parent said...

Is my walled 100ft garden in my 3 storey terraced home threatened by newcomers?

roysavage said...

next door sold for 420K one and half beds- 55 sqm ridiculous price. But hey if someone wants to pay for it that their choice.

roysavage said...

catford, yes culverley road heading towards bromley is actually worth a good look.

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