New Build Investor Guide – Southwark, London
Apr 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?
Southwark, London
Southwark is one of 12 inner London boroughs and is located in south London. Spanning approximately 11 miles², the London Borough of Southwark lies immediately south of the river Thames. The borough borders Lewisham, Lambeth and the Thames. It’s home to the iconic Shard, City Hall (the headquarters of the Greater London Authority), Shakespeare’s Globe Theatre and the Tate Modern.
Demographics
Southwark’s population is forecast to grow by nearly 10% by 2030
| Population (2018) | 332,302 |
| Forecast Population 2030 | 364,761 |
Source: data.london.gov.uk
Economically Active Population
A largely young, diverse, mobile population.
| Age Range | Percentage of population |
| 16 – 64 | 73.4% |
| Under 15 | 18.5% |
| Over 65 | 8.1% |
| Martial Status: | |
| Single |
Source: data.london.gov.uk
Average Life Expectancy
Average life expectancy for those born in Southwark between 2016 and 2018:
| Males | 79 |
| Females | 85 |
Source: ons.gov.uk
Population Density (2011)
Southwark is the 9th most densely populated local authority in England, with 11,045 people per km2.
Source: ons.gov.uk
International Migration (2018-19)
8,290 new residents from overseas, the 7th highest of all London borough’s
Source: ons.gov.uk
Country of Birth
| Location of Birth | Proportion of Population |
| UK and Ireland | 62.2 |
| EU | 8.2 |
| Other countries | 29.2 |
Source: data.london.gov.uk
Crime & Safety
| Crime Numbers (April 2017 – March 2018) | 33,100 |
| Crime rate per 1,000 population (April 2017 -March 2018) | 105 |
| Southwark has the second highest crime rates of all London borough’s |
Source: data.london.gov.uk and ons.gov.uk
Education
Schools
| Primary Schools | 89 (21 of which have an Ofsted rating of outstanding) |
| Secondary Schools | 37 ( 12 of which have an Ofsted rating of outstanding) |
| Schools and Colleges (16-18 years) | 27 (11 of which have an Ofsted rating of outstanding) |
Source: compare-school-performance.service.gov.uk
Universities
London South Bank University
University of the Arts: London College of Communication
University of the Arts: Camberwell College of Arts
Hospitals
The largest teaching hospital in Europe, Kings College London , is located at Guy’s Hospital.
London Bridge Hospital (private)
General Wellbeing
The proportion of people considering themselves in good or very good heath is the !!! highest in England.
| Population considering themselves in very good health | 54% |
| Population considering themselves in very bad health | 1% |
Source: data.london.gov.uk
Employment & Economy
79% of working aged people employed (compared to 75% across England 74% across London).
Top 4 Sectors of Employment
| Finance, banking and insurance | 33% |
| Public administration, education and health | 24% |
| Distribution, hotels and restaurants | 14% |
| Transport and communication | 11% |
Source: data.london.gov.uk
Major Employers
Relatively new office schemes such More London and the Shard Estate has meant the area has become a strategic location for many global businesses including:
| Al Jazeera | Arma Partners |
| Campari | Duff & Phelps |
| EY | Financial Times |
| Gallup | Handelsbanken |
| News UK | Norton Rose |
| PWC | Red Bull |
Source: the-shard.com
Jobs and Job density
Aproximately 36,500 residents of Southwark also work in the borough. 105,411 people travel into the borough each day for work and 71,322 residents work outside the borough. The daytime population of borough therefore increases by 34,089 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 Southwark | 135,970 |
Source: data.london.gov.uk
Property Ownership (2018)
| own property outright (no mortgage) | 13.6% |
| own property with mortgage | 23% |
| rent from a Housing Authority or the Local Authority | 41% |
| rent from a private landlord (representing approximately 29,100 private rentals) | 22.5% |
Source: data.london.gov.uk
| Household with no car or van (2011) | 58% |
Source: nomisweb.co.uk
Household Composition
| One person households | 33% |
| One family households | 47% |
| Other (sharers / students etc) | 20% |
Source: nomisweb.co.uk
Average House Prices
Only three inner London borough’s have cheaper average house prices that Southwark. Only 3 inner London boroughs had higher % increases in house prices than Southwark between January 2020 and January 2021.
| Average achieved price January 2020 | £502,342 |
| Average achieved price January 2021 | £534,468 |
| Increase/Decrease | +6.6% |
Source: www.gov.uk
Volume of Sales
During the COVID pandemic, the number of property transactions fell by 29%.
| Number of residential sales to year ending September 2019 | 3,161 |
| Number of residential sales to year ending September 2020 | 2,244 |
Source: ons.gov.uk
Achieved Rents (January to December 2020)
Mean monthly average rents in the borough:
| London Median Rents (per calendar month) | Southwark Median Rents (per calendar month) | |
| Studio | £950 | £1,098 |
| 1 bedroom | £1,200 | £1,350 |
| 2 bedrooms | £1,450 | £1,650 |
| 3 bedrooms | £1,750 | £2,150 |
Source: london.gov.uk
New Build Developments in Southwark
Several large landmark developments have been launched in recent years in the borough and investors in Asia will be familiar with many of these as many have been launched in region.
Triptych Bankside (Sons and Co.)
| Total Number of Apartments | 163 Private Apartments |
| First Launched | June 2019 |
Average Prices – Triptych Bankside
| Minimum | Average | Maximum | |
| Price | £720,000 | £1,787,856 | £3,610,000 |
| Price per ft² | £1,571 | £1,868 | £2,304 |
| Area (ft²) | 400 | 945 | 1,567 |
source: Molior
| Minimum | Average | Maximum | |
| Studio | £720,000 | £738,333 | £775,000 |
| 1 Bedroom | £930,000 | £1,001,667 | £1,100,000 |
| 2 Bedroom | £1,555,000 | £2,025,000 | £2,515,000 |
| 3 Bedroom | £2,445,000 | £2,861,000 | £3,610,000 |
source: Molior
The Boulevard (Clarion)
| Total Number of Apartments | 53 (45 private) |
| First Launched | March 2020 |
Average Prices – The Boulevard
| Minimum | Average | Maximum | |
| Price | £685,000 | £955,556 | £1,185,000 |
| Price per ft² | £1,019 | £1,193 | £1,359 |
| Area (ft²) | 537 | 824 | 1,243 |
Source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £685,000 | £707,000 | £730,000 |
| 2 Bedroom | £830,000 | £1,014,000 | £1,130,000 |
| 3 Bedroom | £1,160,000 | £1,175,000 | £1,185,000 |
Source: Molior
Brigade Court (Goldman Sachs)
| Total Number of Apartments | 199 Private |
| First Launched | May 2019 |
Average Prices – Brigade Court
| Minimum | Average | Maximum | |
| Price | £585,000 | £945,393 | £1,490,000 |
| Price per ft² | £900 | £1,226 | £1,496 |
| Area (ft²) | 409 | 790 | 1,539 |
Source: Molior
| Minimum | Average | Maximum | |
| Studio | £585,000 | £651,250 | £705,000 |
| 1 Bedroom | £699,995 | £786,875 | £865,000 |
| 2 Bedroom | £832,500 | £1,020,425 | £1,490,000 |
| 3 Bedroom | £1,245,000 | £1,305,714 | £1,435,000 |
Source: Molior
Newham’s Yard (Galliard)
| Total Number of Apartments | 86 Private |
| First Launched | September 2019 |
Average Prices – Newham’s Yard
| Minimum | Average | Maximum | |
| Price | £525,000 | £818,036 | £1,170,000 |
| Price per ft² | £1,071 | £1,259 | £2,286 |
| Area (ft²) | 306 | 651 | 936 |
Source: Molior
| Minimum | Average | Maximum | |
| Studio | £525,000 | £525,000 | £525,000 |
| 1 Bedroom | £590,000 | £676,667 | £730,000 |
| 2 Bedroom | £795,000 | £880,411 | £1,130,000 |
| 3 Bedroom | £1,170,000 | £1,170,000 | £1,170,000 |
Source: Molio
Bermondsey Square (London Square)
| Total Number of Apartments | 406 (271 private) |
| First Launched | March 2017 |
Average Prices – Bermondsey square
| Minimum | Average | Maximum | |
| Price | £580,000 | £957,391 | £1,450,000 |
| Price per ft² | £1,862 | £990 | £1,149 |
| Area (ft²) | 856 | 1,101 | 1,635 |
Source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £580,000 | £650,000 | £765,000 |
| 2 Bedroom | £775,000 | £952,857 | £1,1410,000 |
| 3 Bedroom | £985,000 | £1,205,714 | £1,450,000 |
Source: Molior
Elephant Park, West Grove The Highwood (Lendlease)
| Total Number of Apartments | 365 (307 private) |
| First Launched | March 2015 |
Average Prices – West Grove, The Highwood
| Minimum | Average | Maximum | |
| Price | £495,000 | £921,126 | £1,660,000 |
| Price per ft² | £870 | £1,150 | £1,774 |
| Area (ft²) | 429 | 779 | 1,395 |
Source: Molior
| Minimum | Average | Maximum | |
| Studio | £495,000 | £516,667 | £540,000 |
| 1 Bedroom | £556,000 | £719,963 | £1,098,000 |
| 2 Bedroom | £737,000 | £949,311 | £1,122,000 |
| 3 Bedroom | £1,175,000 | £1,447,500 | £1,660,000 |
Source: Molior
Manor Place Depot (Notting Hill Genesis)
| Total Number of Apartments | 270 (166 private) |
| First Launched | October 2018 |
Average Prices – Manor Place Depot
| Minimum | Average | Maximum | |
| Price | £467,500 | £668,367 | £982,500 |
| Price per ft² | £621 | £760 | £909 |
| Area (ft²) | 539 | 894 | 1,375 |
Source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £467,500 | £524,077 | £617,500 |
| 2 Bedroom | £595,000 | £653,611 | £725,000 |
| 3 Bedroom | £732,000 | £828,833 | £982,500 |
Source: Molior
Peckham Place (Notting Hill Genesis)
| Total Number of Apartments | 333 (216 private) |
| First Launched | July 2019 |
Average Prices – Peckham Place
| Minimum | Average | Maximum | |
| Price | £440,000 | £566,136 | £825,000 |
| Price per ft² | £606 | £751 | £878 |
| Area (ft²) | 538 | 783 | 1,362 |
Source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £440,000 | £464,762 | £510,000 |
| 2 Bedroom | £580,000 | £625,556 | £700,000 |
| 3 Bedroom | £665,000 | £778,000 | £825,000 |
Source: Molior
Environment & Leisure
Southwark has a host attractions and leisure facilities including:
Shakespeare’s Globe Theatre
The Tate Modern Art Gallery
Borough Market
The Shard
24 parks and open spaces
11 outdoor gyms
6 public Tennis courts
6 gardens of interest open to the public
7 football pitches
7 large children’s playgrounds
2 boating lakes
7 basketball courts
7 leisure centres
13 libraries
Transport
Southwark’s overground and underground stations are in Zones 1 and 2.
Overground Stations
| Canada Water | Denmark Hill | East Dulwich |
| Elephant and Castle | London Bridge | New Cross |
| North Dulwich | Nunhead | Peckham Rye |
| Queen Road (Peckham) | Rotherhide | South Bermondsey |
| Surrey Quays | Sydenham Hill | West Dulwich |
Underground Stations
| Bermondsey (Jubilee line) | Borough (Northern line) |
| Canada Water (Jubilee line) | Elephant and Castle (Bakerloo & Northern lines) |
| Kennington (Northern line) | London Bridge (Jubilee line, Northern line) |
| Southwark (Jubilee line) |
Local Government
The Labour Party
Subscribe to Updates
Get the latest news from
PropTech Pioneer
Property Investment Calculator
Categories
As a property investor, there are two measures you should consider...
Got a Question?
If you’ve a property investment
question you’d like us to
write about, let us know
