Southwark's average home fell £9,487 in July to £572,478, just £420 up on a year. Flats are down again and the first-time buyer average sits on £500,000.

The average home in Southwark sold for £572,478 in July. That is £9,487 less than in June, a monthly fall of 1.6%.

It leaves the borough just £420 above July 2025, a rise of 0.1%. A month ago the same index showed Southwark up 2.2% on the year, one of the strongest figures in London.

HM Land Registry published the July 2026 UK House Price Index on Wednesday 16 September. The figures cover completed sales, not asking prices.

Still ahead of most of London

A standstill year is still a good one by London standards. The capital as a whole fell 3.3% over the same twelve months, to £550,037. England rose 1.1%.

We ranked all 33 London boroughs from the same release. Twelve rose and 21 fell. Southwark came 12th, the last of the boroughs still in positive territory.

Area July 2026 average Change on a year
Southwark £572,478 up 0.1%
Lewisham £488,658 up 0.7%
Lambeth £536,623 down 6.3%
London £550,037 down 3.3%
England £293,479 up 1.1%

Lambeth, next door to Dulwich and Herne Hill, fell by nearly twice the London rate.

The monthly picture was worse. Southwark’s 1.6% drop between June and July was joint sixth steepest in London, level with Islington. London as a whole slipped only 0.1% that month.

A year in one line

Line chart of Southwark's average house price from July 2025 to July 2026, rising to a peak of £597,552 in October 2025 and falling back to £572,478 in July 2026
Every monthly figure is from the July 2026 release, which revises earlier months.

The borough’s average climbed through the autumn, then gave most of it back:

Month Average price
July 2025 £572,058
August 2025 £581,299
September 2025 £592,542
October 2025 £597,552
November 2025 £596,373
December 2025 £591,458
January 2026 £582,277
February 2026 £575,188
March 2026 £571,501
April 2026 £579,417
May 2026 £578,491
June 2026 £581,965
July 2026 £572,478

July is £25,074 below the October peak. The highest Southwark figure anywhere in the index is still £622,328, from December 2020.

Houses up, flats down

Every type of house rose in value over the year. Flats did not.

  • Detached: £1,740,029, up £65,791 or 3.9%
  • Semi-detached: £1,229,706, up £35,578 or 3.0%
  • Terraced: £838,160, up £17,333 or 2.1%
  • Flats and maisonettes: £469,796, down £3,210 or 0.7%

The flat average has now fallen two years running. It was £491,773 in July 2024 and £473,006 in July 2025.

Even so, flats did better here than almost anywhere in London. Only three boroughs saw flat prices rise, and Southwark’s small fall ranked eighth of 33.

First-time buyers are sitting on the £500,000 line

The average first-time buyer in Southwark paid £501,031 in July. That is down from £509,794 in June and 0.1% lower than a year ago.

The figure matters because of stamp duty. First-time buyers pay nothing up to £300,000 and 5% on the portion up to £500,000. Above £500,000 the relief cannot be claimed at all, and the purchase is taxed at the standard rates.

Southwark is one of 12 London boroughs where the first-time buyer average is over that line. It is also the closest to it.

What the number is, and what it is not

Three things are worth knowing before you use this figure to price a home.

  • It is a mean, not a median. A handful of very expensive sales pull the average up.
  • It covers the whole borough, from Bankside to Dulwich Wood. Our Dulwich house prices page has median sale prices for SE21 and SE22.
  • Recent months get revised, and July rests on few sales. June was first published at £582,473 and now reads £581,965. May 2026 is the latest month with a published sales count, and it is built on 149 sales. Treat July as provisional.

What it means for you

If you are selling a house, the year has been steady. Terraced, semi-detached and detached homes all rose, even as most of London fell.

If you own a flat, values have drifted down for two years. A Southwark flat bought at the average price in July 2024 is worth about £22,000 less on paper today.

If you are a first-time buyer, the borough’s first-time buyer average is now almost exactly where stamp duty relief stops. At £500,000 a first-time buyer pays £10,000. At £500,001 the relief is lost and the bill is about £15,000 at the standard rates, so the last pound costs about £5,000.

The August figures are due next month, and May, June and July may all move when they arrive.

More: our June house price report, Dulwich house prices by postcode and Dulwich council tax bands.

Sources