Story Highlights

• Southwark in 2016 had total property sales of £3.16 billions
• The total number of property sold in Southwark 2016 was 3892
• The average sales price in Southwark was £813 K and the median sales price was £504 K
• The sales value contributed by New Property was 19.84% where as Not New Property contributed 80.16%
• Stamp duty changes caused monthly spike in March
• Brexit and Stamp duty changes have not had impact and total sales value has increased by 9%

Total Sales By Property Type

Southwark is one of the Boroughs of Central London. It had total Property Sales of £3.16 billions which was 12.81% of Central London Property Market 2016.

The split across the different property types are:

• Terraced £484 millions (15.32%)
• Semi-Detached £115 millions (3.65%)
• Other £797 millions (25.2%)
• Flat/Maisonette £1.7 billions (53.9%)
• Detached £61 millions (1.93%)

Year on Year Comparison : Compared to Southwark Property Market 2015 in 2016

• All the property type had lower total sales compared to 2015 except Others

Southwark Property Market at Postcode level

Postcode	Coverage Area	Local Authority Area
SE1	Bankside, South Bank, Lambeth (part), Southwark, Bermondsey (part), Vauxhall (part), Old Kent Road (part)	Lambeth, Southwark, City of London
SE4	Brockley, Crofton Park	Lewisham, Southwark
SE5	Camberwell, Denmark Hill, Peckham, Brixton (part)	Southwark, Lambeth
SE8	Deptford, Evelyn, Rotherhithe	Greenwich, Lewisham, Southwark
SE11	Kennington, Lambeth (part), Vauxhall (part)	Lambeth, Southwark
SE14	New Cross	Lewisham, Southwark
SE15	Peckham, Nunhead, South Bermondsey (part), Old Kent Road (part)	Lewisham, Southwark
SE16	Rotherhithe, Surrey Quays	Southwark
SE17	Walworth, Kennington (part), Newington	Southwark
SE19	Upper Norwood, Crystal Palace	Bromley, Croydon, Lambeth, Lewisham, Southwark
SE21	Dulwich, Dulwich Village, West Dulwich, Tulse Hill (part)	Lambeth, Southwark
SE22	East Dulwich, Dulwich Village (part), Peckham Rye, Loughborough Junction, Herne Hill	Southwark
SE23	Forest Hill, Honor Oak, Crofton Park (part)	Lewisham, Southwark
SE24	Herne Hill, Tulse Hill (part), Dulwich (part)	Lambeth, Southwark
SE26	Sydenham, Crystal Palace (part)	Bromley, Lewisham, Southwark

For property market details at post code level please click on Postcode in the table above.

Month-wise Break-up of Total Sales

Some of the insights based on the £3.16 billions month-wise break-down :

Stamp Duty Hike Impact

1. March had property sale spike of £474 millions  compared to £255 millions in Feb 
2. The impetus for it was to avoid the extra 3% in Stamp Duty Tax applicable on buying an additional home, being applicable from April 1 2016

Brexit Impact

1. Brexit took place on 23rd June 2016.
2. As can be observed from the month-wise break-up there does not seem to have been some dip in property sales in the immediate aftermath of Brexit 
3. Year on Year the property market for Southwark has shown a growth of 8.96% over 2015

Total No Of Properties Sold By Property Type

In Southwark the total number of properties sold in year 2016 was 3892. The breakdown by different property types are:

• Terraced 611 (15.7%)
• Semi-Detached 99 (2.54%)
• Other 208 (5.34%)
• Flat/Maisonette 2936 (75.44%)
• Detached 38 (0.98%)

Year on Year Comparison : Compared to Southwark Property Market 2015 in 2016

• Total sales volume has declined by 708 i.e. 15.4 %
• All the property type had lower sales volume compared to 2015 except Other
• Other has shown growth of 89% in number of sales

Average & Median Sales Price

In 2015 the Average property price was £813 K in Southwark. The average price for the different property types are:

• Detached £1.61 millions
• Flat/Maisonette £581 K
• Other £3.83 millions
• Semi-Detached £1.17 million
• Terraced £793 K

The Median Price was £504 K. The median property price for the different property types are:

• Detached £1.38 millions
• Flat/Maisonette £455 K
• Other £909 K
• Semi-Detached £1 millions
• Terraced £760 K

Year on Year Comparison : Compared to Southwark Property Market 2015 in 2016

• Property types Detached , Other have had decrease in average and median property prices
• Flat, Semi-Detached, Terraced have had increase in average and median property price

New Vs Not New Property Statistics

By Value Of Sales

• Not New Property contributed £2.54 billions (80.16%)
• New Property £628 millions (19.84%)

By Number Of Sales

• The number of Not New Property sold was 3157 (81.12%)
• The number of New Properties sold was 735 (18.88%) 

Year on Year Comparison : Compared to Southwark Property Market 2015 in 2016

• New property market share in property market has gone up in 2016 over 2015

 All London Posts