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New housing supply to more than double in southeast London, says JLL

The latest (May 2019) research report on South East London by JLL, has predicted that the supply of new housing in the region will more than double.

Neil Chegwidden, residential research at JLL, said: “The next ten years will be even more transformational for South East London than the last decade. This will take some doing given that more than 15,000 private homes have been built during this time. But, with more than 31,000 homes in the planning pipeline, significant and even faster change for South East London is on its way.

“The transformation will not only be a matter of quantity. Some areas are set to see dramatic changes to their dynamics and streetscape. The far-reaching masterplan at Canada Water & Surrey Quays, for example, will create a new urban centre and a change of focal point and will significantly enhance its appeal and profile. The Old Kent Road Corridor is also set for dramatic change. This neglected area has seen a spate of planning applications recently where an array of towers scattered along its route will alter the streetscape, the skyline and the demographics.”

JLL expects average property prices in southeast London to increase by 18.1% over the next five years and for rents to rise by 16.5% on average during the same timeframe.

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