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Property prices in SE1

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Thursday 26 April 2007 7.20pm
I came across this article the other day:

Property prices in Southwark have increased by 238 per cent in the past decade. I wonder what will happen in the next decade? Another 238 per cent gain would see prices at an average of 800,429.7.

Thursday 26 April 2007 8.37pm
Good. Although I think that rate will be achived in the next 5 years.
Thursday 26 April 2007 11.03pm
I think that the prices in Elephant will double in the next 5 years, if there is no wider crash.
Friday 27 April 2007 7.17am
From your mouth to God's ears....only where shall we all move to?
Friday 27 April 2007 7.34am
Having read the article I think there may be a mistake and that the real pirce increase over the last decade for Southwark is 283%, not 238% (making it the joint highest increase over the 5 boroughs).
Friday 27 April 2007 7.54am
The other day I did a search of my neighbourhood using, which has access to all properties sold since 2000, and the price paid.

Two interesting things: very little seems to change hands round here (SE1 6--), in fact not one house or flat in my street (which is admittedly part council/part privately owned/privately tenanted) was sold since 2000.

Secondly prices aren't that high - flats in the nearby council blocks for not much more than 120 - 150k. I think the best price was 265k for a nice two bed flat in the next street last year.
Friday 27 April 2007 8.44am
If you cover all of SE1 6-- the maximum goes up to 415K (Metro Central Heights). Prices in some neighbouring SE1 4-- postcodes are even heigher.

My personal experience is a 43% rise in the 18 months since we moved (based on mortgage company re-valuations). Another 200% plus rise in the next decade would be great (from a home owners perspective), but surely not that likely?
Friday 27 April 2007 9.35am
The flat I'm buying at the moment has gone up 37% since Jul 2005 and 93% since Aug 2000 based on a quick calc on land registry previous sale prices and what I am paying for it. I think 2000 might have been when the terrace house was first converted into 3 flats.

I'm more towards E&C than Borough though so hopefully my stratospheric rise is still to come...
Friday 27 April 2007 10.48am
Mine's gone up 50% in 2 years.
Friday 27 April 2007 11.03am
The Way We Live Now

...if you press it, they will come.
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