Home Real Estate London homebuyers home in on Herne Hill

London homebuyers home in on Herne Hill

by Ozva Admin

For Lottie Mills, moving to Herne Hill nine months ago was all about Brockwell Park, the 50-hectare rolling green expanse in the south-east London suburb. She rents a house with her brother on a street that borders the park and is a member of her lido built in 1937.

“I lived in [nearby] Camberwell, but I feel like Herne Hill is much more homey – the Lido cafe is very sociable,” says the 31-year-old, who works for a cybersecurity startup. “Lots of people my age live here and there are some great bars and cafes.”

The area had been more of a low-key residential pocket of London, until it was reported that former Prime Minister Boris Johnson was also moving to Herne Hill from Camberwell. Herne Hill (postcode SE24) is quieter than Brixton, yet not as trendy as neighboring Dulwich, where the median house price of £1.5m is 15% more higher than Herne Hill’s £1.31m, according to the Hamptons. using data from the Land Registry.

Cheaper houses, good schools, green spaces and connectivity (Herne Hill is a 16-minute train ride from the City of London) attract professionals, including doctors from nearby King’s College Hospital. In 1885, the writer John Ruskin, a longtime resident after whom the area’s other large park was named, described it as “a rustic eminence four miles south of the Standard in Cornhill [a City distance marker]”.

For the last three years, house prices have been growing at a slower rate than in Dulwich Village, at 7 percent and 19 percent respectively, however some houses on roadways within the catchment area of Dulwich Village Infants’ School and Dulwich Hamlet Junior have been appreciated. a lot more.

a two-bedroom apartment with a roof terrace, £585,000

A two-bedroom apartment with a roof terrace, £585,000

On Stradella Road, a soon-to-be-completed £4m double-fronted property is the highest-ever sale there, according to Christopher Burton of agent Knight Frank., following the sale of a similar-sized house for £3.55m at the end of 2021. Burbage and Winterbrook Roads are also highly sought after: in the latter, a five-bedroom house sold for £2.55m last year. sterling, an increase of 21%. on why it changed hands in 2018.

However, more records may not be set for a while. Agents report a drop in valuation requests and properties being withdrawn from sale last week as both sellers and buyers balked at interest rate hikes, mortgage product recalls and worsening of inflation.

In the “North Dulwich Triangle”, between Herne Hill Road, Half Moon Lane and Red Post Hill, demand has been driven by Charter School North Dulwich, a state-owned alternative to the independent JAGS, Alleyn’s and Dulwich College secondary schools. “We have families from Battersea, Fulham and Islington who are moving from a £1.1m to £1.5m two or three bedroom property to a £1.7m five bedroom house sterling to £2.75 million at Herne Hill,” says Burton.

Charter School parent Matt Briggs lives in Triangle, his fourth home in the area. “It is a very familiar place. Our two children went to the same primary school as me. [Dulwich Hamlet] and they use the same parks, there’s a great sense of continuity, although the pubs have become a bit more stylish,” says Briggs, a party wall consultant.

Map of Herne Hill, London

His French wife, Severine, works at the Judith Kerr Primary School, a bilingual Anglo-German school. In the playground of Brockwell Park it is common to hear voices in French, and there is a French nursery school, École Cadet Rousselle. This and the relaxed, open-minded atmosphere were an “added bonus”, says David from Paris, who, with his wife Maya, had been renting in Islington. They bought a three-bedroom flat last summer and had a daughter at the same time.

“Looking for a greener area, we fell in love with Herne Hill. Connectivity was key, as was the stamp duty reduction [at the time]”, says David, who works in the energy sector and preferred not to give his last name.

Some of the cheapest houses in the area can be found near the Judith Kerr School on the Delawyk Crescent built in the 1960s. A three-bedroom terraced house can cost around £700,000. Towards Brixton is “Poets’ Corner”: Milton, Chaucer, Shakespeare and Spenser Roads. There, a three-bedroom townhouse costs around £1m, according to Douglas Bernard of Winkworth, who says young professionals who love proximity to the station often find it difficult to make the leap from an apartment valued at £450,000- £550,000 to a house. . “Then they will move to more affordable areas like Crystal Palace, Catford or Norwood,” he says.

The cost of flats has fallen 7.8 per cent in the 12 months to date, according to Hamptons, with the average price now at £472,840. “Flats without outside space are struggling, even those with a new kitchen or bathroom,” says Bernard.

Finding a rental house on a main street can be difficult. “Families will find more options in Dulwich,” she says. But for Lottie Mills, neither Dulwich Park nor East Dulwich’s prolific cafes and restaurants have as much appeal. “I’ve lived in a few places now and I think Brockwell is the best park in London.”

Shopping guide

  • A train from Herne Hill to London Victoria takes 13 minutes, to City Thameslink 16 minutes; Brixton is the nearest tube station.

  • In 2022, 53 percent of property sales were apartments, according to the Hamptons/Land Registry; 32 per cent of the homes sold exceeded one million pounds sterling.

What you can buy. . .

A two-bedroom apartment, £585,000

A two-bedroom apartment with a private roof terrace near Brockwell Park (Oliver Burn).

House, £1.7 million

A four-bedroom townhouse in the “North Dulwich Triangle” (Frank Knight).

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