More homes have changed hands north of the Thames over the past year but it is south London that is seeing higher levels of property market activity on a borough-by-borough basis, according to new figures from Benham and Reeves.
Analysis of government transaction data shows that 78,326 homes were sold across the capital in the past 12 months. Of these, 42,658 were north of the river compared with 33,192 south of it.
However, with 21 boroughs in the north (including the City of London) and only 11 in the south, the higher total volume above the Thames is unsurprising.
Once adjusted for the number of boroughs, the south is more active, averaging 3,017 sales per borough compared with 2,031 in the north.
MOST ACTIVE
Wandsworth has been the most active market south of the river, recording 4,690 sales – equal to 14.1% of all transactions in the area. Bromley followed with 4,184 (12.6%), then Croydon (10.7%), Lambeth (10.2%) and Southwark (8.9%).
In the north, Barnet recorded the highest sales, with 3,200 transactions (7.5% of the total), followed by Havering (6.9%), Waltham Forest (6.4%), Tower Hamlets (6.2%) and Ealing (6.0%).
South London’s relative strength has been linked to the continued appeal of areas such as Peckham, Brixton and Deptford, where younger buyers and renters are driving demand. These “hipster hotspots” combine lower average house prices with strong transport links and cultural amenities, keeping activity levels high despite wider affordability pressures.
For those unable to decide between north and south, Richmond remains London’s only borough divided by the Thames. With 2,476 sales over the past year, it ranks among the more active markets and offers buyers the best of both worlds.
GREATER AFFORDABILITY
Marc von Grundherr, Director of Benham and Reeves, says: “North of the river has always been favoured for its closer proximity to the City and other key London attractions, not to mention a far more extensive Tube network.
“However, as high demand has pushed up prices, buyers have increasingly looked south for greater affordability.
“We’ve also seen transport links improve over the years, not to mention an extensive number of regeneration projects, and so the south has arguably become the ‘cool’ place to be’, with the emergence of hotspots such as Peckham attracting younger buyers and investors alike.”
