South East London House Prices Surge £190k Since 2015: ONS Data

Key Points

• The average house price in south east London is now more than £190,000 higher than it was a decade ago, according to new data from the Office for National Statistics (ONS).
• New ONS figures reveal median house price changes across south east London boroughs—Bexley, Bromley, Greenwich, Lewisham, and Southwark—between 2015 and 2025.
• House prices have risen sharply across all five boroughs, with particularly steep increases since 2023.
• In 2015, Bromley had the highest average house price at £365,000; Bexley the lowest at £219,995; Lewisham at £260,000; Greenwich at £248,996.
• By 2017, prices reached £405,000 in Bromley, £331,525 in Southwark, and £325,000 in Lewisham.
• Growth slowed between 2018 and 2020: Lewisham dipped to £320,000 in 2019; Bexley unchanged at £285,000 in 2019, then £295,000 in 2020; Lewisham £327,000 and Southwark just under £390,000 in 2020.
• From 2021, sharper rises: Bromley £470,000, Southwark £400,000, Lewisham £355,000.
• By 2023, Bexley £330,000, Greenwich £357,000.
• Biggest jumps between 2023 and 2024: Lewisham from £350,000 to £483,000; Southwark from £405,000 to £584,000.
• In 2024, Southwark overtook Bromley as the most expensive borough.
• By 2025, prices: Southwark £597,000, Bromley £534,000, Lewisham £495,000, Bexley £411,000 (still most affordable).

South East London (East London Times) February 8, 2026 – New data from the Office for National Statistics (ONS) shows that the average house price in south east London has surged by more than £190,000 over the past decade, with median prices across Bexley, Bromley, Greenwich, Lewisham, and Southwark rising sharply, especially since 2023. In 2015, Bromley led with £365,000 averages, while Bexley lagged at £219,995; by 2025, Southwark tops the list at £597,000, and even Bexley has climbed to £411,000. This decade-long trend underscores a booming property market in the region, driven by steady growth punctuated by slowdowns and recent accelerations.

Which Boroughs Saw the Biggest House Price Rises?

The ONS data, as analysed in the original reporting, highlights uniform increases across all five south east London boroughs from 2015 to 2025. Bromley started as the priciest in 2015 at £365,000, but Southwark overtook it by 2024 with a jump from £405,000 in 2023 to £584,000 in 2024, reaching £597,000 in 2025. Lewisham experienced the most dramatic single-year surge, rocketing from £350,000 in 2023 to £483,000 in 2024, before settling at £495,000 in 2025.

Bexley, consistently the most affordable, began at £219,995 in 2015, held steady around £285,000 in 2019, reached £295,000 in 2020, £330,000 in 2023, and £411,000 in 2025. Greenwich progressed from £248,996 in 2015 to £357,000 by 2023, while Southwark climbed from an unspecified 2015 figure to £331,525 in 2017, just under £390,000 in 2020, £400,000 in 2021, and beyond. These shifts reflect a market where no borough escaped the upward trajectory, though paces varied.

What Were House Prices Like in 2015?

In 2015, the baseline year for this ONS dataset, south east London’s housing market showed clear hierarchies. Bromley commanded the highest average at £365,000, as noted in the figures. Bexley offered the entry point with homes at £219,995, while Lewisham and Greenwich recorded £260,000 and £248,996 respectively. Southwark’s 2015 price is not explicitly detailed in the data summary but can be inferred as competitive given its later trajectory.

This snapshot, drawn directly from ONS records, set the stage for subsequent growth. The disparities—Bromley nearly £145,000 ahead of Bexley—highlighted early affordability gaps that have since narrowed relatively, though absolute prices have ballooned everywhere.

How Did Prices Evolve Through 2017?

House prices rose steadily post-2015. By 2017, Bromley hit £405,000, up significantly from £365,000. Southwark reached £331,525, Lewisham £325,000—both advancing from their 2015 marks of around £260,000 and unspecified but lower baselines.

The ONS figures indicate this period as one of consistent uplift, with no major dips reported across the boroughs. Greenwich and Bexley also progressed, though exact interim figures for them in 2017 are encompassed within the broader steady rise narrative.

Why Did Growth Slow Between 2018 and 2020?

Between 2018 and 2020, momentum waned, with prices levelling off or edging up marginally in several boroughs. In 2019, Lewisham’s average dipped slightly to £320,000, while Bexley stayed flat at £285,000. By 2020, Bexley nudged to £295,000, Lewisham to £327,000, and Southwark to just under £390,000.

This slowdown, per the ONS data, affected multiple areas amid wider economic pressures, though specifics like interest rates or policy shifts are not attributed in the core reporting. Bromley and Greenwich likely mirrored this caution, maintaining poise without the prior vigour.

When Did Prices Start Rising Sharply Again?

From 2021, accelerations resumed. That year, Bromley soared to £470,000, Southwark to £400,000, and Lewisham to £355,000. The data points to this as a pivot, with all boroughs regaining pace after the 2018-2020 lull.

By 2023, Bexley hit £330,000 and Greenwich £357,000, building on earlier gains. This phase marked a return to robust demand, setting up even steeper climbs.

What Fueled the 2023-2024 Surge?

The most significant rises hit between 2023 and 2024. Lewisham leapt from £350,000 to £483,000—a near 38% jump. Southwark advanced from £405,000 to £584,000, overtaking Bromley as the dataset’s priciest borough that year.

Bromley stood at an implied high from prior £534,000 trajectory by 2025, while others followed suit. The ONS figures frame this as the decade’s peak acceleration, though no direct quotes from analysts appear in the sourced data.

How Do 2025 Prices Compare Across Boroughs?

By 2025, Southwark leads at £597,000, Bromley at £534,000, Lewisham at £495,000, with Bexley at £411,000 remaining most affordable yet up £191,005 from 2015. Greenwich’s final figure aligns within the £357,000 2023 base toward this cluster.

Across the board, the £190,000+ regional rise manifests: Southwark’s ascent from sub-£331,525 (2017 proxy) exemplifies the shift. A graph in the original coverage visualises these trends for Bexley, Bromley, Greenwich, Lewisham, and Southwark since 2015, underscoring the inverted pyramid of growth—heaviest at the top recently.

Why Has Southwark Overtaken Bromley?

Southwark’s trajectory flipped the script: from £331,525 in 2017 and £400,000 in 2021 to £584,000 in 2024 and £597,000 in 2025, eclipsing Bromley’s £534,000 end-point after Bromley’s early dominance at £365,000 (2015) and £470,000 (2021). This overtake in 2024 stems from compounded gains, per ONS.

Bromley’s steady climb—from £405,000 (2017) toward £534,000—couldn’t match Southwark’s late surge. Factors like urban appeal or infrastructure, unquoted here, likely contributed.

What Makes Bexley Still Affordable?

Bexley endures as the value option: £219,995 in 2015, £285,000 (2019), £295,000 (2020), £330,000 (2023), £411,000 (2025). Its £191,005 decade gain trails others but offers relative relief.

Compared to Southwark’s £597,000, Bexley’s profile suits budget-conscious buyers, as the data illustrates without missing a beat.

What Do These Trends Mean for Buyers?

The ONS data paints a seller’s market, with post-2023 spikes—Lewisham’s £133,000 2023-24 leap, Southwark’s £179,000—signalling caution for entrants. Yet Bexley’s £411,000 affordability persists.

No expert quotes feature in the core story, but the graph’s depiction of trajectories warns of volatility: steady to 2020, explosive thereafter.

Broader Context of the Data

The figures stem from ONS median house prices, tracking true averages over listed means. All boroughs advanced, no reversals beyond 2019’s minor Lewisham dip. The narrative, comprehensive across sources, attributes every datum to this official release, ensuring neutrality.