Property prices rose by more than 14% in both Battersea and Brixton in the 12 months to February, according to official data.
Property values climbed 14.4% in Battersea and 14.2% in Brixton, taking the average value of a home in both areas to £757,555 and £507,818 respectively.
Can this momentum be continued to the end of 2016? Estate agent Eden Harper reports that average values are continuing to climb. In May 2016, the average value of a residential property in Battersea stood at £957,888, while the average price of a home in Brixton was 560,424 – up over 26% and 10% respectively.
Property in Battersea and Brixton is experiencing such a rise in value because homes in these ever-popular areas are in such short supply.
Excellent transport links to central London, good local schools and vibrant local facilities make homes in Brixton and Battersea popular with young professionals and families alike.
London suffers from a dire shortage of homes. It is said the capital needs to build at least 20,000 new homes every year to satisfy the ever-growing demand for property.
Until the Mayor of London and central government deliver the homes Brixton and Battersea needs prices will continue to rise.
And landlords seeking investment properties can also profit from rising rents. Brixton, for example, a one-bedroom flat can command an average monthly rent of £1450 – up by more than 10% on a year ago.
Eden Harper says the future price growth potential for homeowners and landlords continues to look good.