Peckham Steps Up

Aug 20th, 2013 | By | Category: House Key, Residence

Jason Davis Of Kinleigh Folkard & Hayward On Why Peckham Is Becoming The New Hot Spot Of South East London

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Peckham has seen a huge surge in its popularity over the last few years. With prices in the surrounding areas of Dulwich and Camberwell having risen significantly, more people than ever before are looking at SE15 as an affordable alternative where buyers can get a bit more for their money. However, even prices here are not as cheap as they used to be and we’ve seen values for many properties increase by more than 30% in the past year.

Part of the appeal of Peckham is in its location and excellent transport links. Residents can live only moments away from the bars and restaurants on Lordship Lane without having to pay the premium of East Dulwich. In addition, Peckham’s own amenities are improving and the impressive selection of independent shops on Bellenden Road and the large array of fresh meat produce and market stalls are equally popular.  Good transport links have certainly influenced Peckham’s desirability and the addition of Peckham Rye and Queens Road stations to the East London Line Extension has resulted in a change of demographic for the area.

City professionals and families alike now favour the area, while first time buyers see Peckham as the perfect area to jump onto the property ladder. We’ve seen a 70% increase in first time buyers looking to buy compared to 2012 and have also seen an increase of around 40% in families looking to upsize. The assortment consists of Georgian and Victorian period properties, many of which still retain their beautiful period features and sought after original detailing. In addition, Peckham also offers an array of character filled modern flats, warehouse conversions and school conversions.

With prices rising rapidly competition is fierce and many buyers are prepared to pay the asking price or above to secure their home. Multiple offers and best and final bids have become commonplace and we’re increasingly  witnessing that the north side of Peckham above the Queens Road has become first choice for many first time buyers although prices are not as low as they used to be. In 2012, you could purchase a one bedroom Victorian conversion with a garden for no more than £190,000, however in 2013 you’re likely to pay closer to £250,000. Similarly, a 1300sqft family house which would have cost between £450,000 and £500,000 in 2012, will now achieve between £600,000 and £650,000. The closer to Peckham Rye you get the more expensive homes become it’s not uncommon to pay in the region of £750,000 and £800,000 for a family home.

By Jason Davis, Sales Manager at Kinleigh Folkard & Hayward’s Peckham branch T: 020 7639 2029 | W: www.kfh.co.uk

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