Area Guide For Penge

Penge is a suburb of South East London in the London Borough of Bromley. It has entered popular culture as the archetypal commuter suburb, but was a fashionable entertainment district in the 19th century and saw notorious murders in the 1870s. Many young professionals, investors and first-time buyers are all getting wise to the neighbourhood of Penge, where low house prices, good train links and fast commutes create a tempting package. With a grand supply of marvellous Victorian terrace houses, plus spacious flats converted from larger houses of the same period in Thicket Road. Alexandra Cottages is a pretty enclave of 181 semi-detached Victorian properties with a strong community spirit close to Penge East station.


Penge Map

Estimated Price: £314,192
Average Asking Price: £391,164
Price change in last one year: £35,046
Average Price Paid: £235,295
Average Rent Rates: £1,039


Property Prices Breakdown in Penge

Average Price for property in Penge is around £314,192 which varies based on type of property you are interested in and ranges from £606,123 for detached house to around £470,264 for semi-detached. Similarly terraced house is around £392,670 and a flat is worth £251,389. Values have been changing and have risen £1,893 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £6,247 in last 6 months, £35,046 in last 1 year, £67,106 in last 2 years, £76,182 in last 3 years, £77,297 in last 4 years and £85,207 in last 5 years.

Currently average asking price of a property in Penge is around £391,164 based on approximately 592 properties for sale. Same is the case with rental options based on 68 properties up for rent, average asking rent is around £1,039 per month.

Estimated property value in Penge is £314,192. Average asking price is £391,164 while average price paid is £279,990 which is up by £35,046 and Avg. asking rent £1,039.Based on an Online Survey

Buyers are willing to pay high dollar prices to grab these properties because of the recent trend in real estate investment especially in Penge area. In last 1 year alone average price buyer paid is around £279,990 based on approximately 592 sales in Penge area alone. If you compare it to last 3 years sales of 1,546 properties where buyers paid around £244,498. It has been same for some time now for e.g. if you take an average of amount paid in last 5 years, it comes to around £235,295 for 2,188 and average amount paid for purchase of approx. 2,820 properties sold in last 7 years comes to about £227,699 per sale.


Properties For Sale in Penge


Breakdown of asking prices for homes of different sizes show that price varies clearly based on no of bedrooms and type of house. Asking price for a house with 2 bedroom is around £394,983, £413,689 for a 3 bedroom house, £673,112 for a 4 bedroom house and £724,150 for a 5 bedroom house. For a flat similarly the prices varies from £237,608 for a single bedroom to £317,545 for a 2 bedroom Flat. Same is the case with 3 bedroom flat £320,703. To sum up the asking prices for properties in Penge it comes to around average £237,608 for 1 bedroom property, £322,385 for 2 bedroom, £378,505 for 3 bedroom, £673,112 for 4 bedroom and £724,150 for a 5 bedroom property.

Rent per calendar month varies similarly based on type and size of the house. If you look at the rents per month for houses alone it can vary from £764 for 1 bedroom to £1,362 for 2 bedroom and £1,666 for 3 bedroom. But if you are interested in renting a 1 bedroom flat then rent per month can be around £898. As the no. of bedroom increase so will the rent e.g. for a 2 bedroom flat it will be around £1,073 and £1,167 for 3 bedroom. You should be generally be expecting around average £852 rent per month for single bedroom property, £1,128 for 2 bedroom and approximately £1,500 for 3 bedroom property in Penge area.

Popular Houses in Penge

Disclaimer : Location real estate estimates and values are based on House price index background data and Sales data provided by United Kingdom Land registry Records available as public records from their website. This information is updated monthly on our website and may not reflect all public transactions. This information is based on estimated calculation generated from our developed algorithms. We are striving to make this information as accurate and useful as possible. This data covers the transactions received at Land Registry in the period 1/1/1995 to 9/1/2014. © Crown copyright 2014. Data produced by Land Registry © Crown copyright 2014.

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