Brixton Property Prices: November 2017

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When it comes to making a move in the property market, it is always best to be as fully informed as you can. Making an informed decision is the best way to be confident about your next step. Whether you are looking to buy or rent, this is one of the biggest decisions you will make in life.

A lot of people instinctively know that Brixton is the place they want to stay in. Found in the London Borough of Lambeth, the transport links are of a high standard, there are plenty of great shops, you should be able to find entertainment options that please you and Brixton is well known for being a multi-ethnic community, which is ideal for a lot of people. So, there is a lot to be said for setting up home in Brixton but you also need to devote time to the finances of the situation. It is becoming one of London’s trendiest places to live. Some describe the area’s renaissance as regeneration, others say it is simply gentrification, forcing poorer residents out
Brixton – an affordable option in London?

According to Zoopla, property purchase prices in Brixton over the past 10 years, have risen by an average of 76%; As with many parts of London, the larger than average shift has made housing unaffordable for many in Brixton and on another hand it created a great demand for richer people.

Property prices in Brixton went sky high in 2015 and now starting to come back to reasonable level. According to Zoopla, the average value of property in Brixton at the end of November 2017 stands at £572,780. With respect to the average price paid for property in the past 12 months, Zoopla states £586,352 as the price of property in Brixton. By means of comparison, the same source states that the average price paid for property in the London Borough of Lambeth for the same time-frame is £652,893 while the average price paid for property in London over the past 12 months is £640,381.

These comparisons suggest that Brixton is a more affordable option than the general price in the London Borough of Lambeth and London as well. This is a good starting point if you are looking for somewhere to stay but don’t want to break your budget, which should always be your starting point.

Rental options are available in Brixton
However, not everyone is looking to buy property, some people are content to rent. This means you may prefer to examine the rental market and again, Brixton is a suitable location for people looking to find rental accommodation.
According to figures provided by home.co.uk, the average rent for Brixton comes in at £1,752 per calendar month (pcm). It is possible to break this down further and the average rent for a one bedroom property in Brixton stands at £1,417 pcm. With a two bedroom property, the average rent stands at £1,692 pcm while for three bedroom properties, the average rent stands at £2,332 per calendar month. With a four and five bedroom property, the average rent pcm is £3,250 and £4,063 respectively. 

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