Every Monopoly fan knows that Old Kent Road is the sensible first step on the property ladder, even if a move to Mayfair is the end game! While it will cost you significantly more than £60, a new home in Peckham is still an affordable – and highly desirable – option for first time buyers in the capital.
Under the spotlight
Located in the Borough of Southwark, Peckham has come a long way from its Only Fools and Horses days, having benefited immensely from multi-million-pound investments in the area. It’s safe to say Del Boy and Rodney Trotter wouldn’t recognise the place! In fact, Time Out magazine named it one of the 50 coolest neighbourhoods in the world.
Peckham was a rural area until the early 19th century, home to market gardens growing produce for London markets. By the mid-19th century, Peckham New Town was built and the rise of public transport encouraged increased development, with railways and horse-drawn trams making the area more accessible. Public transport in the area continues to impress to this day, with further growth promised.
Already well-connected – Peckham Rye and Queens Road Peckham stations (Zone 2) provide Overground and National Rail services – the planned Bakerloo Line extension will bring the underground to Old Kent Road, making the commute from Peckham even easier. In the meantime, the “Bakerloop”, launching this autumn, will offer a speedy bus service to Waterloo via Elephant and Castle. Multiple different bus routes offer easy access to other parts of Southwark and beyond. Road links, including the A202 and A2, are good, but many residents find a car unnecessary.
This is an area with a strong sense of identity, evident in the huge range of local events and captured perfectly by the The Peckham Peculiar, voted Community Newspaper of the Year at the national Newspaper Awards. Peckham has a broad demographic; arty students, young professionals and families all contribute to the area’s diverse population. The excellent choice of local schools and family-friendly amenities mean families choose to stay in the area.
Peckham’s homes range from period properties to new-build developments at every budget. There are plenty of Victorian and Regency homes and two conservation areas. Holly Grove conservation area includes the beautiful Choumert Square, a unique mews of cottages. While these come at a premium, there is also plenty on offer at more modest prices, including period conversions, ex-social housing and new developments close to Old Kent Road.
5 reasons we love… Peckham
- Its strong sense of community
- The food – all of it!
- Access to the arts
- Excellent local schools
- The buzz of the upcoming Bakerloo Line extension
If you enjoy an active outdoor lifestyle, Peckham is perfect. There is easy access to green spaces, with Peckham Rye Park and Common to the south and Burgess Park to the north. Peckham Rye Park and Common alone boasts 113 acres of grassland, an ornamental and water garden, a lake, woodland, playground and cafe. Park Run is the place to be on a Saturday morning, with popular weekly runs at both Burgess Park and Southwark Park. For a more leisurely hobby, try lawn bowls at Peckham Rye. There are also two council-owned swimming pools locally – Peckham Pulse Leisure Centre and Dulwich Leisure Centre.
Shopping in Peckham is a true treat for the senses. The main shopping street, Rye Lane, showcases the diversity of the area, with multicultural shops including the Tardis that is Khan’s, and a bustling market. You will also find branches of Primark and Peacocks here, and a small shopping centre (the Aylesham Centre) which handily includes a Poundland and large Morrisons store. Juxtaposed with this is Bellenden Road, bursting with independent shops and artisan eateries.
Peckham boasts an eclectic mix of restaurants, with food from across the globe. Ganapati, Artusi and The Begging Bowl on Bellenden Road are local favourites, along with Mr Bao and Old Spike Roastery in Peckham Rye. Head to Old Kent Road for authentic Algerian baked goods at El Marsem or fantastic topped naans at London Fresh Naan.
Peckham’s nightlife doesn’t disappoint; for a start, you’re close to Bermondsey’s popular beer mile – now nearly two miles! Too much? Take your pick from a range of restaurants, pubs, music venues and trendy bars. The CLF Art Cafe (aka the Bussey Building) is home to the Bussey Rooftop Bar, while just across the railway line, rooftop bar Frank’s Cafe offers fantastic sunset views from the top of Peckham Levels, a former multi-storey car park.
The arts play a key part in Peckham’s appeal, and nowhere is this more evident than at Peckham Levels. Now a multi-use creative space, studios and street food hall, it is also testament to the impressive community spirit in Peckham. Threatened with redevelopment by Southwark Council, after much protest it was repurposed and is now an important community hub. It is also home to Bold Tendencies, who offer world class performances in a carpark; Peckham’s answer to the Barbican. The CLF Art Cafe also hosts a variety of events. Elsewhere, the South London Gallery (SLG) in Peckham Road is a leading contemporary art gallery with world-class exhibitions right on your doorstep. Finally, head to Peckhamplex (surely the cheapest cinema in London at just £5.99 for any ticket) which shows mainstream, art house, foreign language and independent films on six screens.
Fact File
Average property price in Southwark (March 2025) – £593,888
Property breakdown*
- Detached – £1,694,463
- Semi-detached – £ 1,211,718
- Terraced – £831,210
- Flat – £495,285
- *According to the Land Registry House Price Index
Famous Residents
- Actor and producer John Boyega
- Actress Susan Wokoma
- Boxer Julius Francis
- Actress Claire Foy
- Footballer Rio Ferdinand
Homes on the market…
SO Resi Peckham
With news of the long-awaited Bakerloo Line extension a hot topic in late 2024, locations along the new arm of the line are set to be in the limelight this year. One such stop is Old Kent Road in Peckham which will meet demand for new homes on the proposed line, with SO Resi (part of Metropolitan Thames Valley Housing) offering a collection of 113 homes available with the London Living Rent and Shared Ownership schemes.
The 113 brand new apartments at SO Resi Peckham, located on Old Kent Road, are now available to reserve off-plan, with completion expected in autumn/winter 2025. Homes of both tenures will offer bright, airy and sociable open-plan living spaces equipped with Zanussi appliances, all coming with balconies or terraces as standard. SO Resi Peckham will be a car-free development offering cycle storage in a secure, purpose-built store for residents’ peace of mind and with an Aldi store on the ground floor.
There are 81 apartments available to purchase through Shared Ownership, which enables buyers to purchase a share in the property, paying a mortgage on the part that is owned by them, and a monthly rental payment on the share they do not own. Example prices will start at £425,000 for a one bedroom apartment (full market value) with deposits starting from just 5% of the share. As an example, for a 25% share in a one bedroom apartment, prices can start from £106,250.
Prospective renters looking for a more permanent home can also move to SO Resi Peckham using London Living Rent (LLR), where 32 apartments are available through this scheme. LLR offers rents at a discount of approximately one third of the local median household income on a three-year contract. Tenants will be encouraged to use the savings from the discounted rent to save up for a deposit, to purchase the property using Shared Ownership at the end of the rental term, with the view that all homes will be sold in 10 years.
Peckham is renowned for its bustling shopping streets, offering independent shops, coffee houses and Rye Lane Market. Within a stone’s throw from the development are green open spaces such as Brimmington Park, with its outdoor gym, walking trails and playpark as well as Burgess Park, which offers a BMX track, sports centre, tennis courts and playparks plus a fishing lake. In terms of transport, SO Resi Peckham is located between Queens Road Peckham and New Cross Gate Overground stations serving the Windrush Line, and bus routes from Queens Road Peckham station with regular services to Elephant & Castle and Battersea Park.
Currently available at SO Resi Peckham is a collection of one, two and three bedroom apartments, available from £425,000 (full market value) on the Shared Ownership scheme. Priority will be given to applicants who live or work in the London Borough of Southwark.
To find out more, visit sharedownership.co.uk
First Time Buyer is an exciting bi-monthly glossy which takes a stylish and comprehensive look at all the options available, setting them out in an entertaining and informative way, and helping potential customers navigate their way through what is often a daunting and complex process. We dispel the myths, reinforce the facts and arm the reader with the tools necessary to make their homeownership dreams a reality.
