British Property Award Winner 2017
The size of the property market in SE2 is 10138 homes.
When compared against a national average compound annual growth rate (CAGR) over the last 5 years of 12.5%, the growth in this postcode district has been 13.6%. This could well be because this is a 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.
Over the last 3 months, the average property value for this postcode district has been £177274.
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 10.3.
New transactions as a percentage of overall sales are 8.8%.
UK government aims to streamline house sales with new measures
Modernising mortgages: First 'digital mortgage' signed for house in Rotherhithe, London