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.

Southwark 1024x536 1 PropTech Pioneer

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

Visit Website


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

Visit Website


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

Visit Website


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

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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

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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

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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

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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

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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

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