Following on from my last article, if you recall I said that Norwood Road had the most properties sold in the SE24 Herne Hill postcode, yet I felt that this information wasn’t telling the whole story, as some roads in Herne Hill have more properties on them than others. Therefore, I promised that I would compare the average number of properties sold by the actual number of properties on that street, to find out the streets whose owners proportionally moved (or sold) more often than the rest of the locality.
To give some foundation to the article, in 2017 Herne Hill homeowners had, on average, lived at their existing address for 17 years and 6 months. However, when I looked at the difference between homeowners with and without a mortgage; Herne Hill homeowners without a mortgage had lived in their Herne Hill home for an average of 23 years and 9 months compared with 10 years and 1 month for homeowners with a mortgage. Interestingly, Herne Hill’s Lambeth and Southwark Council house tenants have on average resided at their present home for 11 years and 4 months, whilst finally for those who rent from a private landlord, tenants generally have lived in their property for an average of 3 years and 11 months (up from 3 years 5 months only five years ago).
The SE24 street in the top 25 saleable streets with the highest number of households on it is Norwood Road, which has 526 residential addresses. Yet since 1995, only 590 properties have changed hands (some multiple times!) .. which means the street’s saleability or churn rate is 112.2%.
However, the street or road that has the highest saleability or churn rate is Deronda Road … which has 117 households on it, yet since 1995 there have been 208 house sales … a saleability rate of 177.8%. Here is the full breakdown of the top 25 streets …
| Street (in SE24) | The Street’s Saleability
(or Churn) Rate since 1995 |
| Deronda Road | 177.8% |
| Spenser Road | 157.5% |
| Milton Road | 149.5% |
| Gubyon Avenue | 136.0% |
| Herne Hill Road | 135.9% |
| Kestrel Avenue | 130.7% |
| Chaucer Road | 128.4% |
| Fawnbrake Avenue | 125.0% |
| Romola Road | 116.3% |
| Frankfurt Road | 116.3% |
| Dulwich Road | 113.4% |
| Norwood Road | 112.2% |
| Croxted Road | 111.9% |
| Mayall Road | 107.0% |
| Elfindale Road | 104.6% |
| Beckwith Road | 100.0% |
| Hinton Road | 95.3% |
| Holmdene Avenue | 90.2% |
| Red Post Hill | 88.5% |
| Lowden Road | 85.0% |
| Half Moon Lane | 83.2% |
| Shakespeare Road | 80.6% |
| Railton Road | 69.4% |
| Herne Hill | 65.1% |
| Milkwood Road | 62.6% |
So, as you can see, some interesting statistics and a lot more correlation between saleability rate and property values (unlike the article last time where we compared value to ‘out and out’ raw sales figures).
Therefore, what does this all mean to Herne Hill homeowners and Herne Hill landlords? Well these 25 streets are the best performing streets out of the 96 streets in the Herne Hill (SE24) area so if you live/own a property on those 25 streets … you are sitting on a very saleable street. If you want to find out how saleable your street is .. please drop me a line and we can discuss this further.