Property

What’s the real state of Real Estate in South East London

By Jason Morris Director/Broker JT Clarke London

Well, it’s been 35 years of being a resident of Peckham and almost 20 years of operation, within the property market working within the boroughs of Southwark, Lewisham and Greenwich and the changes and regeneration witnessed throughout these regions has been both significant and simply put, nothing short of amazing!

Originally living next to

Peckham Rye common and then moving in the early eighties to the North Peckham Estate, I remember those years when places like Peckham struck fear in the hearts of many people, family, and school friends, with even visitors to neighbouring suburbs often choosing to go around rather than go through the area. Such was the stigma the area held for drama, crime and poverty. Much like Brixton at that time, it was a place to avoid!

As recent as 2012, when we opened our first office on Queens Road, Peckham specialising in residential sales, lettings, and management - the stigma still surrounded the area with very little happening on the North side of Peckham, around the Queens Road at the time. Three-bedroom terraced houses sold for on average of £350,000 with the same properties commanding a maximum rental income of £2250 per calendar month. Fast forward to 2022-, and three-bedroom period terraced homes have more than doubled in price with most falling into a price range of between £850,000 - £1.1 million and as much as £4100 per calendar month when letting! Such has been the influx of buyers and renters from other places and boroughs of London, especially north and west London where many first-time buyers and families have migrated south of the river being able to secure so much more for their money! This naturally has influenced some change in demographics and contributed to the staggering regeneration experienced, with an almost ripple effect for surrounding areas as London remains a leading area in the UK for house purchases. Walk through the streets of Peckham now and at times it’s hard to believe it’s the same place, with its array of swanky bars, quirky spots and delicious restaurants it evolved into a place with a real cosmopolitan vibe! In fact, in 2017, both the evening standard and timeout reported Peckham as the most prestigious and best places to live in London. With the insider running an article in 2019 naming Peckham as one of the coolest neighbourhoods to live in in the WORLD! What a change and how it continues to evolve. But Peckham is not the only place to have changed. Our world has changed. We now live in a post pandemic era, with gales of concern currently being felt in a climate of economic uncertainty, a cost-of-living crisis, and ridiculous hike with energy price rises. It’s easy to see and understand why someone could through fear lose faith in the property market. For much of us and more so, our millennial and gen Z generations making up a large percentage of the current first-time buyer population, they have never seen anything like these current affairs, and quite frankly it’s a lot! But if one thing has been proven over the decades, (and at times like this, it’s worth reminding ourselves,) that despite boom and bust cycles, with the right strategy and approach, you can still safely navigate your way through and weather a storm! The property market is crucial to the economy and as such a sector that will always survive and perform, with a unique knack of bouncing back bigger and stronger! Continuing to make the London property market still one of the most sought-after places in the world to buy property and real estate. So don’t underestimate the robustness of the London property market and keep a close eye out for emerging areas once despised. Change is happening. Change is coming. Change is a constant and often, change leads to better.

https://www.standard.co.uk/news/london/peckham-tops-prestigious-list-of-best-places-to-live-in-london-2017-a3493501.html https://www.timeout.com/london/blog/peckham-has-been-named-the-best-place-to-live-in-london-032017 https://www.insider.com/peckham-london-coolest-neighborhood-photos-what-its-really-like-2019-9 18 Southwark BUSINESS TODAY

We are proud to announce that this year marked the 10th year anniversary celebration’s of JT Clarke London, a premier independent estate agency based in Southwark, located on the Queens Road of Peckham.

When the office opened back in 2012, Queens Road really didn’t have too much going on in terms of commercial trade. However, with the improvements made to this prominent line coupled with the Agencies vision for improvement to the strip where they are now based, brought much needed improvements to Peckham.

“J T Clarke London provide comprehensive services for both the residential sales, lettings and commercial markets, we began to bring other reputable traders into the empty shops that lined its streets” says Jason Morris, the company’s Managing Director.

“We secured commercial leases for a variety of new eateries, bars and even another estate agency! People thought I was crazy for bringing the competition so close to our own doors but I was fed up of seeing empty derelict shops, and earnestly wanted to see change for the better in the area, so I kept my eye on the bigger picture! “

With 20 years experience in the industry, these transactions coupled with the warm reception we received to the area allowed us to get off the mark quickly selling and letting homes in the local area. There is no doubt, that we began to see a demographical change in the area with Peckham becoming a named ‘Hotspot’ and sought after area for homeowners and first time buyers.

Serving our area and community for over 10 years now has been a real privilege, with our agency competing amongst the best of the bigger brands. We have established ourselves as an agent of choice which I’m pleased to report has allowed us to expand operations yet further with the opening of our Brixton office in March this year!

The culture and mantra of our company remains this he says, PEOPLE. PROPERTY. PASSION. PERFORMANCE. People we serve come first as do their objectives. Property is the product we handle with an expertise and knowledge by those we serve. Passion - we love what we do and do it refreshingly with an energy, enthusiasm and warmth that gets our customers telling their friends and family about us and PERFORMANCE, well he says we simply get it done for our clients and customers!

T: 020 7277 6699 T: 020 7277 6699 E: enquiries@jtclarkelondon.comE: enquiries@jtclarkelondon.com

www.jtclarkelondon.comwww.jtclarkelondon.com