Southwark

A home in Southwark costs 10.8x the local median salary — very stretched, improving from a peak of 14.2x in 2017.

Average monthly rent in Southwark is £2,388, up 1.7% year-on-year. Rents have risen consistently over the past five years.

Based on the average Southwark price of £588,648 with a 25% deposit (£147k), a 2-year fixed mortgage at 3.97% costs around £2,323 per month.

Monthly mortgage payments (£2,323) are £65 less than renting (£2,388). However, buying requires an upfront deposit of £147k — it would take around 8 years to recoup that cost compared to renting and investing the difference.