Why Hither Green and Lewisham are becoming South London property hotspots
The property market in London is always thriving due to the capital's status as one of the world's most desirable locations. And Property in South London
is also highly sought after by eager purchasers and tenants.
Lewisham and Hither Green are two South London locations in particular where the local property market has been going from strength to strength in recent times.
Using our expert knowledge of these local areas, we've taken a look at how Lewisham and Hither Green have become property hotspots and why now is the perfect time to sell or let in these markets...Lewisham
Lewisham is one of South London's best-known and best-connected areas. Not only does it benefit from a train service which can get passengers to London Bridge in just nine minutes, but it also has its own Docklands Light Railway station serving Canary Wharf and is a significant centre for bus services.
Situated near Catford, New Cross and Bromley, Lewisham is also not far from popular social spots Greenwich and Blackheath and is home to up and coming, trendy locations like Ladywell and St Johns.
There is a large redevelopment project taking place in the centre of Lewisham. Known as Lewisham Gateway, the scheme will provide a town square, new shops and restaurants and up to 800 new homes.
The area has already benefitted from other regeneration projects in recent years, including the impressive redesign of Glass Mill Leisure Centre.
Lewisham boasts a bustling town centre and is known for its affordable homes and plethora of Victorian and Edwardian properties. According to our own property data, the current average value for a terraced property is just above the £395,000 mark. Meanwhile, a semi-detached home could set the average buyer back around £569,000.
In the last three months, the average property value here has increased by almost 1.5%, equivalent to over £6,500. Since 2012, meanwhile, Zoopla
calculates that the average Lewisham property has increased in value by almost £150,000. Rightmove reports that the overall average asking price in Lewisham is now just shy of £490,000 - 3.4% higher than the figure recorded in June 2016.Hither Green
Often referred to as a village, Hither Green is a Lewisham suburb that has boomed in popularity in recent years.
This is partly down to its good range of schools and also its transports links. From here you can be in London Bridge in 11 minutes and Cannon Street in just over 20.
The area is known for its community spirit and family friendly vibe. This reputation is bolstered by a strong selection of independent and family-run shops and businesses present in the area.
As is the case across most of the Lewisham borough, the majority of housing here is made up of Victorian and Edwardian terraces. Hither Green may not be as cheap as some parts of Lewisham, but it is particularly popular with buyers who have been priced out of nearby Blackheath and Greenwich.
Over the last six months, the average property value in Hither Green has risen steadily by almost 1.7%, according to Zoopla. This is equivalent to an additional £7,600 added to each property since January.
Since 2012, average values in Hither Green have sky-rocketed by almost 50%. The average property here is now worth over £100,000 more than it was five years ago, says the property website.It’s time to sell or let
As you can see, both these areas have a lot going for them and both benefit from bustling and growing property markets. For local residents thinking about putting their property on the market, now couldn't be a better time to sell. According to Rightmove
, the average time to sell in Greater London during May was 54 days, down from 64 in February and 71 in January.
On top of these quick turnaround times, property price growth in Hither Green and Lewisham has been strong and steady over the past decade. This is also something that will benefit landlords in the long-term, who will also have no problem finding tenants to fill their properties with most available rental homes sought after by numerous renters.
Here at Bryan & Keegan
, we'll do our best to make sure we sell your home for the best possible price through our dynamic and personal service.
If you're thinking about selling or letting your Lewisham or Hither Green property, we'd love to hear from you.
You can get in touch with us on 020 8692 7758 or firstname.lastname@example.org.