Greenwich Area Guide

Historic South East London borough Greenwich is known around the globe as the centre of world time measurement. The area is home to a myriad of attractions that contribute to its UNESCO World Heritage site status and mean that there is much to keep visitors and residents alike entertained: The restored tea clipper Cutty Sark, and Royal Museums, and the Emirates Air Line Cable Car which provides a fantastic view of the capital as well as a shortcut across the River Thames to the Royal Docks. 

Property market

£423k Average house price
£1,500 Average Rent, 2 Bed
4% Average yield
13% Price growth over last 5 years
22% Price growth 5-years forecast
12% Rental growth over last 5 years
16% Rental growth 5-years forecast

Lifestyle

15 Number of ‘Outstanding’ primary schools
3 Number of ‘Outstanding’ secondary schools
270 Restaurants and cafes
845 Number of shops
39% Proportion of open space
18 Number of stations
2 PTAL (Public Transport Accessibility Level)

Despite its proximity to Central London and the Thames, Greenwich is a London borough with a vast amount of open space. Most notable is Greenwich Park, with the world-famous observatory, as well as over 50 other parks and common green spaces – such as Greenwich Peninsula Ecology Park and Avery Hill Park.

The centre of Greenwich has a distinctly village feel, providing a wealth of attractions from the historic to modern facilities such as the O2 arena, which puts Greenwich on the map as the heart of live entertainment. This famous entertainment centre plays host to many of the world’s most celebrated musicians and high-profile sporting events and, with a resident music club, multi-screen cinema, and a vast array of lively bars and restaurants, the arena is an easily accessible hub of entertainment for the borough.

Greenwich residents benefit from the modern transport infrastructure of the Jubilee and DLR lines -  to be further enhanced by the opening of the Elizabeth Line - which delivers fast journey times to Central and West London and make the borough an attractive base for city workers. As a result, Greenwich has seen above average price growth over the last 5 years, a trend that is expected to continue for the next half decade. Greenwich has a younger than average population, with 60% under 40, and average house prices are notably below the London average of £516k.

 

Insights

 

  • Average house prices are 18% lower than the London average
  • Average rent for a 2-bed flat is 16% lower than the London average
  • House price growth over the last 5 years was 13%, higher than London at 10%
  • House price growth over the next 5 years is predicted to be 22%, higher than London at 19%
  • Average asking rents grew 12% over the last 5 years, lower than London at 14%
  • Over the next 5 years average rents are expected to grow by 16%, higher than London at 14%

London's first ever steam railway linked Greenwich with London Bridge in 1838.

Visiting Greenwich village is like stepping back in time - the Old Royal Naval College and Maritime Museum are often used as filming locations. Greenwich Market is an absolute gem. It’s in a covered area surrounded by independent and boutique shops, and inside you’ll find arts and crafts stalls and a great variety of food.

London boroughs

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Disclaimers

 

  • Average 2-bed yield is calculated by REalyse using median 2-bed asking rent and median 2-bed sales prices.  
  • Rental growth over the last five years is for all property (not 2-beds).
  • All data is the latest available as of January 2022.
  • PTAL – Transport for London's (TFL) Public Transport Accessibility Levels (PTALs) are a detailed and accurate measure of the accessibility of a point to the public transport network, taking into account walk access time and service availability. Each area is graded between 0 and 6b, where a score of 0 is very poor access to public transport, and 6b is excellent access to public transport.

 

Sources

 

  • Average Price – ONS, October 2021
  • Asking rent – Realyse, December 2021
  • Yield – Realyse, December 2021
  • House price and rental forecasts – CBRE Research
  • Outstanding primary and secondary schools – OFSTED (December 2021)
  • Number of cafes and restaurants – ONS (2020)
  • Number of shops – ONS (2021)
  • Open space – GiGL (2015)
  • Number of stations – TfL (2015)
  • PTAL – TfL (2015)