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From Wimbledon tennis to the events and green spaces of Clapham Common, there is plenty going on in South London. Of course, each borough provides something different to the area, but it goes without saying that South London has many quirks and idiosyncrasies that make it a great place to live. However, what can you expect if you are looking to move out of South London?
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Property is generally more affordable for buyers in the south of London, but this depends on the borough you are in. Bromley, Croydon and Sutton generally provide lower priced properties, at around £391,193-£476,669 on average.
Kingston Upon Thames, Wandsworth and Merton are at the opposite end of the spectrum, with some properties achieving an average price of £806,173. These prices of course rely on the type of home your currently own, as well as the number of bedrooms available.
Looking to rent your home?
You may want to move from South London, but keep your property to rent out. So what can you expect on the rental market? Properties in Wandsworth will achieve the highest rental income for the region at around £2,506 PCM on average, although this will be a lot higher for properties in Wimbledon.
Croydon provides some of the lowest income outcomes for south of the river, at around £1,200 PCM, while Bromham and Sutton should achieve around £1,280-£1,360 PCM.
Buyer demographic in South London?
South London has a pretty even split between married couples and professional singles living in the area, although families will generally settle in the eastern boroughs – Croydon and Bromley. Young professionals will locate themselves in more western boroughs generally, such as Kingston Upon Thames, Merton and Wandsworth. The average age for the area is 36.
Sutton properties are not only the cheapest in South London, but they will also be snapped up the quickest because of this, at just 49 days to sell.
Bromley, Croydon and Merton homes will take around 60-65 days for contracts to be completed, while Properties in Wandsworth will take about 88-90 days for sale completion.
Three bedroom terraced homes are the most sought after property type in this region, and will be quickest to sell if you have this type of property.
Similar locations to South London?
South London is a diverse and growing region that has seen a good amount of regeneration over the last decade, particularly in Croydon. If you are looking to move somewhere with more green spaces, consider looking at North London or Barnet in particular. For somewhere more affordable, it might be worth having a look at properties in East London.
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