An area guide for house prices in South Norwood

When it comes to property areas in London, not everywhere has been gentrified or priced beyond the reach of most households. There are still areas which offer affordable housing while providing a local community that will ensure many people feel at home. South Norwood is a fantastic example of an instantly recognised London area that has managed to avoid the changes and developments associated with so many parts of the capital.

This isn’t to say that South Norwood is a relic or hasn’t moved with the times. There have been developments and significant changes in the local area but more importantly, South Norwood will still be recognisable to people who used to stay or visit the area. This can’t be said for all parts of the capital, so this is likely to be a feature that many people approve of when comparing property options in London.

South Norwood has strong transport options

One of the most important aspects for any area is how well connected it is and this means that there is a level of interest in the transport options available in South Norwood. At peak-times, you can find up to eight trains an hour travelling from Norwood Junction to London Bridge or London Victoria station. With travel times taking between 17 and 24 minutes, it doesn’t take too long to get to the heart of London from South Norwood.

There is also a London Overground service which connects to Canada Water in just over 20 minutes, to Shoreditch in just over half an hour and to West Croydon in just five minutes. There is also the local Tramlink providing another transport option in the local area.

There are many primary schools which have been classed as “good” by Ofsted in the local area and if you are considering secondary schools, West Thornton, St James the Great RC school and Rockmount have all been classed as “outstanding”. The quality and availability of schools plays a big part in demand for and pricing of property in an area and it is easy to see that South Norwood has appealing options.

There are affordable property options in South Norwood

In figures provided by Zoopla for March 2018, the average value of property in South Norwood stands at £333,627 while in the past 12 months, the average price paid for South Norwood property stands at £354,392.

In the past 12 months, the following figures represent the average price paid for property types in South Norwood:

• Average price paid for flats: £281,759
• Average price paid for terraced properties: £399,248
• Average price paid for semi-detached properties: £458,236
• Average price paid for detached properties: £609,600

Of course, you may be more interested in the breakdown of prices for properties with respect to how many bedrooms. The number of bedrooms a property is often the most integral component of the property for a prospective buyer, and it is understandable that many people are keen to find out relevant property prices.

For a one-bedroom property in South Norwood, you can choose between flats and houses. The current asking price for a one-bedroom house in South Norwood is £250,000 and for a one-bedroom flat, the average asking price is £240,166. You will also find that there are two-bedroom flats and houses in South Norwood, with the average asking price for a two-bedroom house being £378,288. If you are focused on finding a two-bedroom flat, the average asking price stands at £300,737.

You can also choose between a house or a flat for a three-bedroom property in South Norwood. With a three-bedroom house, the average asking price is £474,878 and with a three-bedroom flat, the average asking price is £322,655.

It is only with four and five-bedroom properties that houses are the only option. The average asking price for a four-bedroom house in South Norwood is £554,675and for a five-bedroom house, you will find that £658,571 is the average asking price.

If you would like to find out more about South Norwood, speak with an experienced local estate agent. At Homeforte, we have a team who know the South Norwood area very well and we look forward to helping you take your next step in or around the area.

Categorised in: MARKET TRENDS