Sunday Times: Brockley house prices rising at fourth-fastest rate in UK

The Sunday Times has declared Brockley (SE4) the fourth-fastest-rising property hotspot, after Chelsea (SW3), Manchester (M22) and, um, Burnley (BB10).

In a league table published yesterday, based on data from Rightmove, asking prices for properties in Brockley rose an eye-watering 53.9% between January and May 2015, compared with a national average of 4.6%.

Asking prices are not the same thing as selling prices and Brockley is a small enough area that a small number of houses coming on to the market at one time will be enough to skew the results, but nonetheless, this provides more evidence that Brockley is playing catch-up with other parts of Zone 2.

The Sunday Times proves an unreliable narrator, explaining that Brockley is "between Peckham and New Cross" and that its arty character is because it is home to the alumni of "nearby Camberwell College of Arts". It also claims that: "Period houses once split into flats are now being turned into family homes - a sure sign of better things to come."

14 comments:

terrencetrentderby said...

53.9%, is that correct for 5 months? Surely an error or distortion?


Burnley might drop out of the list when all the ISIS recruits come back from Syria.

Headhunter said...

53.9% between Jan and May 2015? What?! No way... I don't know what prices they're looking at but asking prices on Zoopla have barely shifted since last year... There's no way on earth that prices have gone up that much. I've been watching. Sounds like another article written from a desk by someone who has never been to SE London....

anonymouse said...

Every fule kno that Brockerlee is between Lewisham and Harrods.

Andy Scorgie said...

I find that really very hard to believe, Rightmove are being ludicrously optimistic and the times have always been geographically challenged!

AliAfro said...

Agreed. There have been loopy price rises over the last couple of years but no way near that much since Jan. There is also the seasonal shift with prices rising in spring and falling back as winter comes - year on year is a better indicator of what has actually happened.

Hugh said...

Stop hating on Brox, people. Our time has come. Ching ching!

Guest said...

Anybody has a scan of the article?

Seymour said...

In such a small geographical area with relatively few houses coming to the market average asking prices could shift significantly if the ratio of four bed to three bed houses changed, even if the asking price for three and four bed properties remained the same. I wouldn't read too much into this

Sick of it said...

I hope you're happy, mungos :-(

Now no one can live here.

Death by deli.

anonymouse said...

Like

TJ said...

I actually went to put my place last year, and have put it on the market exactly a year later. The valuation rose in the year by 4.2%. However the property was on the market for less than a week before selling to sealed bids at over the asking price. So the real rise in price from the valuation a year ago turned out to be 5.8%. Perhaps the article % is a typo and its meant to be 5.39%

Headhunter said...

You really think the "mungos" are happy? If by "mungos" you mean middle class and income singles or families desperately trying to find somewhere to live within reasonable distance of Central London where they probably work at reasonable cost then why would they be happy?


I'm sure many of these "mungos" you refer to would prefer to have a large 8 bed Victorian villa with garden in Hampstead but unfortunately there aren't enough of those to go around. People who work long hours are simply trying to get out of renting at sky high prices in other areas of zone 2 and have come to Brockley as an "affordable" alternative. Do you really think that a 20 or 30 something who works in the City enjoys paying half a million for a 2 bed flat in Brockley?


The only people who are laughing all the way to the bank are the people who bought in Brockley 20 or 30 years or more ago - these include right to buy council tenants and local artists etc who have seen the value of their homes go up by 20 times.


I would probably fit into the mungo category - I earn a half decent salary with my other half, I work in Central London etc. I used to live in Islington renting. Eventually prices there went through the roof and I couldn't afford to buy in Islington so I came to Brockley. That was almost 9 years ago and I love it here now and wouldn't go back. Should I blame the Islington "mungos" for pushing me out of there? Everyone has to live somewhere....

JPM said...

The Zoopla ‘all property value change’ for Brockley over the past year records a rise of (only) 2.65% in the past three months.
Perhaps the sale of a few properties that were not previously recorded by Zoopla have resulted in this obvious error, which should more likely be 5.39%. overall.

Firefox said...

Check out the new approach to sell your place by Purple Bricks. I saw it came to brockley too. Well done.

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