House prices in SE9 2 (New Eltham)

This article reveals price per square metre data and various charts to help you understand current housing market in 'SE9 2' (New Eltham, London) - statistics were last calculated on 30 August 2024.

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Defining 'SE9 2'

This analysis is limited to properties whose postcode starts with "SE9 2", this is also called the postcode sector. It is shown in red on the map above. There are no official names for postcode sectors so I've just labelled it New Eltham.

You can click on the map to change sector, or you can enter a different postcode sector (e.g. CM23 4) below.

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FYI, a postcode sector is the full postcode without the last two letters.

Price per square metre

Knowing the average house price in New Eltham is not much use. However, knowing average price per square metre can be quite useful. Price per sqm allows some comparison between properties of different size. We define price per square metre as the sold price divided by the internal area of a property:

£ per sqm = price ÷ internal area

E.g. 78b, Blanmerle Road, New Eltham, London, sold for £288,500 on Jul-2024. Given the internal area of 56 square metres, the price per sqm is £5,151.

England & Wales have been officially metric since 1965. However house price per square foot is prefered by some estate agents and those of sufficiently advanced age ;-) They may want to convert square meters on this page to square feet.

The chart below is called a histogram, it helps you see the distribution of this house price per sqm data. To make this chart we put the sales data into a series of £ per sqm 'buckets' (e.g. £5,250-£5,500, £5,500-£5,750, £5,750-£6,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 155 sales in New Eltham (SE9 2) that took place in the last two years.

Generate a custom chart like the one above but based on your own criteria.

You can see the spread of prices above. This is because although internal area is a key factor in determining valuation, it is not the only factor. Many factors other than size affect desirability; these factors could be condition, aspect, garden size, negotiating power of the vendor etc.

The spread of prices will give you a feel of the typical range to expect in New Eltham (SE9 2). Of the 155 transactions, half were sold for between £4,680 and £6,060 per square metre. The median, or 'middle', price per square metre in 'SE9 2' is £5,490. Notably, only 25% of properties that sold recently were valued at more than £6,060 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

Price map for New Eltham, London

Do have a look at the interactive price map I created. I find it useful and I am sure it will help you in exploring London. You can zoom in all the way to individual properties and then all the way back out to see the whole country. The colours show the current estimated property values.

House price heatmap for New Eltham, London

Comparison with neighbouring postcode sectors

The table below shows how 'SE9 2' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
SE9 2 New Eltham	£4,680 sqm	£5,490 sqm	£6,060 sqm
SE9 3 New Eltham	£4,840 sqm	£5,220 sqm	£5,800 sqm
SE9 5 Eltham	£4,790 sqm	£5,200 sqm	£5,880 sqm
SE9 6 Eltham	£4,920 sqm	£5,480 sqm	£5,930 sqm
SE9 4 Mottingham	£4,480 sqm	£5,150 sqm	£5,700 sqm
SE9 1 Eltham	£5,200 sqm	£5,850 sqm	£6,400 sqm

Will London house prices drop in 2024?

I cannot tell the future and don't believe anyone who says they can. I can however plot price trends - I have done this in the chart below for SE9 2 (New Eltham) compared with both the wider area SE9 and inflation (CPIH from the Office of National Statistics). The dashed trend lines in the chart show the average over time.

Download time series data as CSV (paying users only).

For the most recent sales activity, rather than a summarized average, it is better to see the underlying data. This is shown in the chart below, where blue dots represent individual sales, click on them to see details. If there is an obvious trend you should be able to spot it here amid the noise from outliers.

Data from Land Registry comes in gradually over time. I update it every month but it takes about 5 months for the majority of sales for London to be recorded. Disclaimer: I do not verify and cannot guarantee the accuracy of any data shown. Outliers exist in the data, typically these are where the EPC registry records the internal area incorrectly, sometimes although very rarely the Land Registry price paid data can be wrong. The data provided throughout this website about London and any other area, is not financial advice. Any information provided does not and cannot ever take in to account the particular financial situation, objectives or property needs of either you or anyone reading this information.

Street level data

Street	Avg size	Avg £sqm	Recent sales
Green Lane, New Eltham, SE9 2A	92 sqm	£5,450	18
Stanley Close, New Eltham, SE9 2B	61 sqm	£4,546	16
Blanmerle Road, New Eltham, SE9 2D	68 sqm	£5,424	15
Holland Gardens, New Eltham, SE9 2A	129 sqm	£4,076	15
Lannoy Road, New Eltham, SE9 2B	78 sqm	£5,500	13
Sparrows Lane, New Eltham, SE9 2B	90 sqm	£5,338	12
Footscray Road, New Eltham, SE9 2E	80 sqm	£5,441	12
Bexley Road, New Eltham, SE9 2P	111 sqm	£4,610	12

Search for your street here.

New build activity

Street	Avg size	Avg £sqm	New build sales
Footscray Road, New Eltham, SE9 2S	72 sqm	£5,833	24
Holland Gardens, New Eltham, SE9 2D	128 sqm	£5,317	16

Footscray Road, New Eltham, SE9 2S has seen 24 new build sales in the last 4 years (average price £377,711). These new build homes typically have an internal area of 72 sqm, with an average price of £5,833 sqm. This £sqm average is £343 above the average for SE9 2. New builds typically command a £ per sqm premium so this is normal.

Raw data

Our analysis of New Eltham is derived from what is essentially a big table of sold prices from Land Registry with added property size information. Below are three rows from this table to give you an idea.

Address	Paid	sqm	£/sqm
78b, Blanmerle Rd, New Eltham, London	£288,500 Jul-2024	56	5,151
20, Gaitskell Rd, New Eltham, London	£440,000 Jun-2024	94	4,680
45b, Footscray Rd, New Eltham, London	£273,000 Jun-2024	41	6,658

See the entire list of all sales in New Eltham (SE9 2) here.