Southwark Most Expensive South East London Borough 2026

Key Points

• House prices in Southwark have surged to £597,000 on average in 2025, making it the priciest borough in south east London, overtaking Bromley which stands at £534,000.​
• Prices across south east London boroughs (Bexley, Bromley, Greenwich, Lewisham, Southwark) have risen by more than £190,000 since 2015, per Office for National Statistics (ONS) data.​
• Southwark’s prices nearly doubled over the past nine years, with a sharp jump from £405,000 in 2023 to £584,000 in 2024 and £597,000 in 2025.​
• In 2015, Bromley led at £365,000, Bexley at £219,995, Lewisham £260,000, Greenwich £248,996; by 2025, Bexley remains most affordable at £411,000.​
• Recent data shows Southwark averages varying slightly: £595,400 (London Property Guide, February 2026 update), up 19.32% year-on-year from £499,003; £600,000 in June 2025 per ONS via Terracotta Property.
• Southwark overtook Bromley as the most expensive in 2024, with Lewisham seeing a dramatic 38% rise from £350,000 (2023) to £483,000 (2024).​
• Broader south east London average is £551,000, down 2% over last 12 months to February 2026.​
• Rents and prices in Southwark outpaced London averages, with homes selling for nearly £600,000 in April 2025, up over 5% year-on-year, as reported by Dunya Simões of Southwark News.​
• Regeneration projects like Elephant Park, Canada Water, and Old Kent Road are boosting desirability and long-term values.​
• Rightmove reports £635,733 average over last year, with flats at £522,274, terraced at £910,990.​

Southwark (South London News) March 10, 2026 – House prices in Southwark have rocketed to become the highest in south east London, nearly doubling over the past nine years and reaching £597,000 in 2025, according to Office for National Statistics data analysed across multiple outlets.

This surge has positioned the borough ahead of traditional leader Bromley at £534,000, while the regional average climbed over £190,000 since 2015 amid sharp post-2023 increases. The trend raises stark questions about affordability for locals amid booming demand and regeneration.

Which Boroughs Saw the Biggest House Price Rises?

As detailed in analysis by East London Times reporters using ONS data, all five south east London boroughs—Bexley, Bromley, Greenwich, Lewisham, and Southwark—experienced uniform increases from 2015 to 2025. Southwark’s trajectory was particularly aggressive, jumping from £405,000 in 2023 to £584,000 in 2024 and £597,000 in 2025, overtaking Bromley.

Lewisham posted the most dramatic single-year surge, from £350,000 in 2023 to £483,000 in 2024, stabilising at £495,000 in 2025.​

Bromley, starting as the priciest at £365,000 in 2015, reached £405,000 by 2017 and £470,000 in 2021, but ended at £534,000 in 2025. Bexley, the most affordable throughout, rose from £219,995 in 2015 to £411,000 in 2025—a £191,005 gain—via steady steps like £285,000 in 2019 and £330,000 in 2023. Greenwich advanced from £248,996 in 2015 to £357,000 by 2023.​

What Were House Prices Like in 2015?

In the baseline year of 2015, per ONS figures cited by East London Times, Bromley topped south east London at £365,000 average. Bexley offered the lowest entry at £219,995, with Lewisham at £260,000 and Greenwich at £248,996; Southwark’s exact 2015 figure is inferred as competitive given its 2017 mark of £331,525. These disparities set the stage for a decade of growth, narrowing relative gaps while absolute prices ballooned.​

How Did Prices Evolve Through 2017?

By 2017, prices had risen steadily across the board, as per the ONS dataset. Bromley hit £405,000, Southwark £331,525, and Lewisham £325,000—advances from 2015 baselines. This period marked consistent uplift without major interruptions, building momentum for later surges.​

Why Did Growth Slow Between 2018 and 2020?

Growth tapered between 2018 and 2020 amid economic pressures, according to ONS data summarised by East London Times reporters. Lewisham dipped to £320,000 in 2019, Bexley held at £285,000 that year before £295,000 in 2020, Lewisham recovered to £327,000, and Southwark neared £390,000. No specific causes like interest rates are quoted in the reporting, but the slowdown affected multiple boroughs.​

When Did Prices Start Rising Sharply Again?

From 2021, sharp rises resumed, with Bromley at £470,000, Southwark £400,000, and Lewisham £355,000 that year. By 2023, Bexley reached £330,000 and Greenwich £357,000, signalling renewed demand. This pivot set up the decade’s most explosive phase.​

What Fueled the 2023-2024 Surge?

The biggest leaps occurred between 2023 and 2024: Lewisham from £350,000 to £483,000 (nearly 38%), Southwark from £405,000 to £584,000. East London Times attributes this to post-2023 accelerations across ONS-tracked boroughs, though no direct analyst quotes specify drivers like policy or migration. Bromley and others followed, solidifying the trend.​

How Do 2025 Prices Compare Across Boroughs?

In 2025, Southwark leads at £597,000, Bromley £534,000, Lewisham £495,000, Bexley £411,000 (most affordable), with Greenwich in the mid-range post-£357,000 (2023). Corroborating sources note Southwark at £595,400 (London Property Guide, up 19.32% YoY), nearly £600,000 in April (Dunya Simões, Southwark News), £600,000 June (Terracotta Property citing ONS), and £635,733 last year (Rightmove). South east London overall averages £551,000.

Why Has Southwark Overtaken Bromley?

Southwark flipped dominance in 2024, per ONS via East London Times, surging from £331,525 (2017), £400,000 (2021), to £597,000 (2025) against Bromley’s £534,000 endpoint. As reported by Southwark News, prices outpaced London averages, hitting nearly £600,000 in April 2025, up over 5% YoY. Regeneration in areas like Elephant Park and Canada Water enhances appeal, notes London Estate Agency.

What Makes Bexley Still Affordable?

Bexley remains the value pick at £411,000 in 2025, up from £219,995 (2015), £285,000 (2019), via gradual climbs. East London Times highlights its relative relief compared to Southwark’s £597,000, ideal for budget buyers despite £191,005 decade gain.​

What Do These Trends Mean for Buyers?

The data signals a seller’s market, with post-2023 spikes like Southwark’s £179,000 2023-24 rise warning of entry barriers. Councillor Helen Dennis, Cabinet Member for New Homes and Sustainable Development, told Southwark News: the council prioritises affordable housing amid challenges, noting limits on private rents. London Property Guide forecasts 3.29% growth to £614,983. Regeneration promises long-term uplift but squeezes roots for locals.

How Have Rents and Other Factors Played In?

Average rents in Southwark soared faster than London averages, alongside prices, per ONS figures reported by Dunya Simões of Southwark News:

“These changes… point to a wider transformation, as affordability pressures continue to reshape who can live and work in the area.”

SE1 rents average £3,654 pcm (median £3,250), well above national norms, says Terracotta Property. Projects like Old Kent Road Opportunity Area will deliver thousands of homes, boosting values, per London Estate Agency.

What Is the Broader South East London Context?

South east London postcode average is £551,000 (median £470,000), down 2% last 12 months to February 2026, per Plumplot. UK house prices rose 2.4% to £270,000 (ONS February 2026). Southwark’s lead underscores urban pull, with flats dominant at £522,274 average sold (Rightmove).