New Build Investor Guide – Lewisham
May 2021
Buying a new build property off plan? Check out our Area Guide first
Are you considering purchasing a new build, off plan property in Brent? Want to get the latest information on house prices, demographics and other useful information before you commit to a deal?
Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.
Read on for investor details specifically about Brent but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:
1 Is investing in UK residential property still worth it?
2 If so, where are the best opportunities for property investors and why?
Lewisham, London
Lewisham is one of 12 inner London boroughs and is located in south London. Spanning over 13 miles², it is the second largest inner London borough by area. The borough borders the river Thames, Greenwich, Bromley and Southwark. It includes the districts Deptford, Blackheath, Lewisham, New Cross and more.
Demographics
Lewisham’s population is forecast to grow by 7% by 2030
| Population (2018) | 310,324 |
| Forecast Population 2030 | 333,474 |
Source: data.london.gov.uk
Economically Active Population
A largely young, diverse, mobile population.
| Age Range | Percentage of population |
| 16 – 64 | 70% |
| Under 15 | 21% |
| Over 65 | 9% |
| Martial Status: | |
| Single | 54% |
Source: data.london.gov.uk
Average Life Expectancy
The average life expectancy for those born in Lewisham between 2016 and 2018:
| Males | 79 (UK average is 79) |
| Females | 84 (UK average is 83) |
Source: ons.gov.uk
Population Density (2011)
Lewisham is the least densely populated inner London borough, with 8,702 people per km2.
Source: ons.gov.uk
International Migration (2018-19)
5,651 new residents from overseas, the 19th highest of all London boroughs.
Source: ons.gov.uk
Country of Birth
| Location of Birth | Proportion of Population |
| UK and Ireland | 68% |
| EU | 8% |
| Other countries | 24% |
Source: data.london.gov.uk
Crime & Safety
| Crime Numbers (April 2017 – March 2018) | 24,438 |
| Crime rate per 1,000 population (April 2017 -March 2018) | 81 |
| Lewisham has the 2nd lowest crime rate per 1,000 people of all inner London boroughs. |
Source: data.london.gov.uk
Education
Schools
| Primary Schools | 83 (17 of which have an Ofsted rating of outstanding) |
| Secondary Schools | 25 (3 of which have an Ofsted rating of outstanding) |
| Schools and Colleges (16-18 years) | 14 (2 of which have an Ofsted rating of outstanding) |
Source: compare-school-performance.service.gov.uk
Universities
Goldsmiths, University of London
Hospitals
University Hospital Lewisham
BMI, The Blackheath Hospital
General Wellbeing
| Population considering themselves in very good health | 49% |
| Population considering themselves in very bad health | 1% |
Source: data.london.gov.uk
Employment & Economy
83% of working aged people employed (compared to 75% across England 74% across London).
Top 4 Sectors of Employment
| Public administration, education and health | 30% |
| Finance, banking and insurance | 27% |
| Distribution, hotels and restaurants | 15% |
| Other Services | 10% |
Source: data.london.gov.uk
Major Employers
In 2020, there were 10 companies in the borough employing more than 250 people and 65 companies employing between 50 and 249 people. (source: nomisweb.co.uk)
Jobs and Job density
Aproximately 35,169 residents of Lewisham also work in the borough. 76,650 people travel into the borough each day for work and 94,272 residents work outside the borough. The daytime population of borough therefore decreases by 17,622 people each day. (source: data.london.gov.uk).
| Median Gross Annual Pay for full-time employee jobs (2017) | £31,365 |
| Number of jobs in the borough (2019) | 92,000 |
| Jobs per resident | 0.49 (London average 1.03 and UK average 0.87) |
Source: nomisweb.co.uk and data.london.gov.uk
Housing
| Number of residential properties in Lewisham | 125,830 |
Source: data.london.gov.uk
Property Ownership (2018)
| own property outright (no mortgage) | 17% |
| own property with mortgage | 33% |
| rent from a Housing Authority or the Local Authority | 28% |
| rent from a private landlord (representing approximately 27,800 private rentals) | 23% |
Source: data.london.gov.uk
| Household with no car or van (2011) | 48% |
Source: nomisweb.co.uk
Household Composition
| One person households | 34% |
| One family households | 51% |
| Other (sharers / students etc) | 15% |
Source: nomisweb.co.uk
Average House Prices
House prices in Lewisham were the 2nd cheapest of all inner London boroughs and grew the most of all inner London boroughs between January 2020 and 2021.
| Average achieved price January 2020 | £409,732 |
| Average achieved price January 2021 | £450,161 |
| Increase/Decrease | +10% |
Source: www.gov.uk
Volume of Sales
During the COVID pandemic, the number of property transactions fell by 23%.
| Number of residential sales to year ending September 2019 | 3,204 |
| Number of residential sales to year ending September 2020 | 2,477 |
Source: ons.gov.uk
Achieved Rents (January to December 2020)
Mean monthly average rents in the borough:
| London Median Rents (per calendar month) |
Lewisham (per calendar month) |
|
| Studio | £950 | £850 |
| 1 bedroom | £1,200 | £1,150 |
| 2 bedrooms | £1,450 | £1,350 |
| 3 bedrooms | £1,750 | £1,600 |
Source: london.gov.uk
New Build Developments in Lewisham
Just four new build large developments in Lewisham are currently available for sale.
Deptford Foundry (Anthology)
| Total Number of Apartments | 316 (276 private) |
| First Launched | May 2016 |
Average Prices – Deptford Foundry
| Minimum | Average | Maximum | |
| Price | £345,000 | £478,145 | £775,000 |
| Price per ft² | £582 | £697 | £931 |
| Area (ft²) | 534 | 692 | 1,142 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £345,000 | £404,320 | £495,000 |
| 2 Bedroom | £470,000 | £538,269 | £660,000 |
| 3 Bedroom | £650,000 | £697,273 | £775,000 |
source: Molior
The Pomeroy (Peabody)
| Total Number of Apartments | 65 (45 private) |
| First Launched | February 2020 |
Average Prices – The Pomeroy
| Minimum | Average | Maximum | |
| Price | £415,000 | £535,643 | £700,000 |
| Price per ft² | £501 | £678 | £800 |
| Area (ft²) | 540 | 825 | 1,398 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £415,000 | £426,278 | £442,000 |
| 2 Bedroom | £510,000 | £537,500 | £565,000 |
| 3 Bedroom | £600,000 | £652,500 | £700,000 |
source: Molior
The Scene (Peabody)
| Total Number of Apartments | 120 (101 private) |
| First Launched | November 2020 |
Average Prices – The Scene
| Minimum | Average | Maximum | |
| Price | £405,000 | £500,900 | £570,000 |
| Price per ft² | £649 | £704 | £728 |
| Area (ft²) | 559 | 714 | 871 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £405,000 | £406,000 | £407,000 |
| 2 Bedroom | £555,000 | £564,167 | £570,000 |
source: Molior
Dacres Wood Court (Bellway)
| Total Number of Apartments | 59 (39 private) |
| First Launched | March 2021 |
Average Prices – Dacres Wood Court
| Minimum | Average | Maximum | |
| Price | £354,495 | £412,924 | £502,495 |
| Price per ft² | £543 | £613 | £640 |
| Area (ft²) | 558 | 680 | 926 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £354,495 | £355,621 | £357,000 |
| 2 Bedroom | £472,495 | £489,328 | £502,495 |
source: Molior
Environment & Leisure
Lewisham is home to:
45 parks and open spaces of various sizes – Beckenham Place is the largest (98 hectares)
3 outdoor gyms
Badminton courts in 4 locations
Basketball courts in 5 locations
Cricket pitches in 9 locations
Football pitches in 15 locations
Hockey pitches in 2 locations
Table tennis in 13 locations
Tennis courts in 14 locations
Transport
Lewisham’s overground stations are in Zones 2, 3 and 4.
Overground Stations
| Beckenham Hill | Bellingham |
| Blackheath | Brockley |
| Catford | Catford Bridge |
| Crofton Park | Deptford |
| Forest Hill | Grove Park |
| Hither Green | Honor Oak Park |
| Ladywell | Lee (London) |
| Lewisham | Lower Sydenham |
| New Cross Gate | St Johns (London) |
| Sydenham (London) |
Underground Stations
There are no underground stations in Lewisham.
The Docklands Light Railway (DLR) runs from Lewisham to Bank and Canary Wharf.
Local Government
The Labour Party
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