Tucked in between Vauxhall and Battersea, the SW8 postcode includes the area of South Lambeth and Nine Elms. The residents of the area tend to be young, transient and highly mobile. Given the industrial aesthetic, young professionals are most likely to be attracted to the area. Property prices are high and therefore pull in a largely affluent population.
The neighbourhood is situated in close proximity to Brixton, once edgy and shady but now vibrant and packed with great bars and restaurants. The afro-Caribbean heritage of Brixton has given the area its buzz and fantastic nightlife. Daytime in South Lambeth can be spent at Battersea Park, a large green space directly on the Thames. It’s usually filled with families and their canine friends on the weekends.
Despite Lambeth’s reputation as a rowdy neighbourhood, the area is going through a huge regeneration. The Battersea Power Station is a catalyst for the changes in the area. More families are purchasing property, and foreign investment is pouring in. The area benefits from two rail stations and has great access to west London by Vauxhall Bridge and the Chelsea Bridge Road.
There is a lively and eclectic cultural offering; developers are aware of this and wish to retain it. They aim to grow the area in a way that the ethnic minorities can be part of the change – a flavoursome gentrification.
The architecture in the SW8 district consists of largely modern apartment complexes mixed with 20th century buildings. Most properties that are found in the area are flats, with a small amount of commercial property for sale. Houses rarely stay on the market for long.
Detached houses only make about 1% of the property market, whereas flats make up to over 80% of the market. The area used to be mostly industrial; now a commercial property is rare, but new housing projects are being developed.
Alongside the new residential projects that are popping up in the area, new restaurants and bars are opening, increasing the value of the properties. The Battersea Power Station is nearby and has surely increased the district’s value.
The average price for properties sold in 2015 was around £800,000, an example of a smart property investment. Semi-detached properties can increase to £1,300,000 depending on the quality of the property.
GET – lunch at the North Street Deli, where locals go to eat freshly made salads and sandwiches. Nothing too fancy, just delicious food and a nice spot to people watch.
SEE – real life animals at the Vauxhall City Farm.