British Property Award Winner 2017
The size of the property market in SE10 is 8693 homes.
When growth averages 13.6% over a 5 year period, as in this postcode district, there are a number of possible explanations, for example that this isa dynamic local economy and housing market. Property price growth in this area has significantly exceeded growth in earnings and the national average house price growth, and so the likelihood of it continuing will be dependent upon price earnings ratio, as well as investment by developers and local authorities in continually upgrading local infrastructure, schools, in addition to the continued strength of the local and national economies and any other economies upon which the area depends.
The average property in this postcode district was valued at £318953 over the last 3 months.
Since most banks lend money to buy property using their customers’ salary as a indicator of affordability, the price earnings ratio is a useful guide as to whether property in an area is expensive or not. Price Earnings Ratio in this postcode district is 9.5. Places like this represent the “well- heeled” districts of each postcode area. Although recently there have been some spectacular price increases in more expensive areas, in general, prices appreciate slowly in more expensive places because there is less demand for more expensive properties, and the turnover of them is slower because they are not commonly used as investment property.
New transactions as a percentage of overall sales are 28.1%.
UK government aims to streamline house sales with new measures
Modernising mortgages: First 'digital mortgage' signed for house in Rotherhithe, London