House prices in Blackheath have shot up 5-10 per cent in 2012 according to estate agent Kinleigh Folkard and Hayward (KFH).
Meanwhile the regeneration of Streatham contines to attract first time buyers to the area.
In its London area update, KFH found that a confidence in the London property market lead to the increase in Blackheath, as well as Greenwich.
Demand has come from families and young professionals, who see it as a “London village”, forcing prices up over neighbouring areas such as Lee and Brockley.
KFH Blackheath sales manager James Cooley said: “In particular, we see the highest demand for three and four bedroom family houses, priced from £700,000 upwards.
“When one of these properties comes on to the market, we already have at least ten registered couples, many of whom are chain free and desperate to buy and that’s before marketing the property.”
In Streatham there is currently a balanced market, with potential buyers and sellers fairly even in number.
However, KFH Streatham sales manager Simon Stone said that a lot of those buyers were looking for their first homes.
“Streatham is traditionally popular with first time buyers as often young professionals rent in Clapham, Balham and Battersea while saving for a deposit, then move a little further out to buy as they get more for their money here – a two bedroom garden flat will cost upwards of £300,000,” he said.
