Occupying a prime position in the South East London borough of Southwark, Borough can be found on the south bank of the River Thames between the districts of Waterloo, Southwark and Bermondsey.
Sold prices in the district of Borough reached an average of £715,096 in 2021. This was significantly higher than Southwark's £676,000 average, and the £491,250 average recorded in Newington. Borough is however more affordable than Dulwich Village, where the average property price was £1,533,449.
As in many other central districts, most of the properties sold in Borough in 2021 were flats. They sold for an average price of £698,616, whereas the district's terraces fetched £1,132,583 on average. Notably sold prices in Borough have fallen by 4% since 2020, and they are 22% lower than in 2017 when the average peaked at £918,826.
What is living in Borough like?
Positioned just minutes away from Tower Bridge, Borough sits right in the heart of the action. In fact the City of London sits on the opposite side of the River Thames, which should highlight just how central the district of Borough actually is. During the last decade Borough has benefitted from large-scale regeneration schemes as factories closed and light industry left. This made way for an array of residential development schemes, and Borough is now home to an impressive array of modern apartments and trendy loft-style conversions. With this influx of residential property, investment has also been made in the area's facilities including bars, restaurants, galleries and cafés.
The area has also seen numerous office development projects take place, transforming it into an important business centre primarily for organisations in the legal, accountancy and professional services sector. As such it is a popular location amongst young professionals looking to minimise the time they spend on their commute each week.
Borough High Street is lined with shops, bars and cafés, making it easy for residents to do their weekly food shop and support the district's selection of independent retailers. Additionally travel to various destinations across the city is made simple as there are two stations within easy reach, Borough and Southwark. Borough station is on the Northern Line's Bank branch between London Bridge and Elephant & Castle. It is served by several London bus routes including the 343 between New Cross Gate and Aldgate. Southwark station is on the Jubilee line between London Bridge and Waterloo, and this station experiences twice the amount of traffic Borough station sees.
Living in Borough pros and cons
Pro: There is so much to see and do in Borough
Not only can you take in spectacular views across the river, Borough is an excellent base for access to the West End, Shakespeare's Globe Theatre, St George's Cathedral, the Imperial War Museum, Southwark Cathedral and London Bridge.
The iconic Borough Market can also be found in the area, which is one of the oldest and largest food markets in the capital. It is packed full of traders offering an impressive array of specialty foods from around the world. You may recognise Borough Market even if you've never visited before as it has been used in various films including Bridget Jones's Diary, Harry Potter and the Prisoner of Azkaban and Lock, Stock and Two Smoking Barrels.
Con: Borough is within the Congestion and ULEZ zones
This is bad news for drivers, particularly those who want to continue driving vehicles that do not conform to the ULEZ zone requirements for low emissions. For those driving within these zones a daily charge will apply.
The introduction of these schemes has had a positive impact on the air quality in the area as data shows that levels exceeded WHO recommended levels on fewer than half the days between early January 2022 and early February 2022.
Is Borough a safe place to live?
Borough sits within the Borough and Bankside SNT area where 4,718 crimes were reported between January 2020 and December 2021. This was higher than in the districts of St George's and Chaucer, but lower than in the neighbouring district of London Bridge and West Bermondsey, which recorded 5,955 crimes during the same period.
2,357 crimes in Borough and Bankside fell into the category of theft, and as the area is a tourist hotspot, this isn't entirely unexpected. Violent crimes accounted for 728 reports and the area also saw 337 reports of burglary. Crime in the Borough and Bankside area peaked in July 2021 when there were 282 reported incidents, which was significantly higher than in January 2021 when just 82 reports were made. Between September 2021 and December 2021 however crime has fallen in the area from 264 reports of criminal activity to 188 cases.
Data from the Metropolitan Police highlights that there were 27 crimes per 1,000 residents in the Borough and Bankside area in November 2021. This is considerably higher than the nine crimes per 1,000 residents seen in the borough of Southwark overall, and the eight crimes per 1,000 residents seen across London during the same period.
Which celebrities live in Borough?
The London borough of Southwark has been the chosen base of a plethora of notable figures throughout history. Economist Alfred Marshall was born in Southwark and spent a lot of time in Bermondsey, as has the Liberal Democrat MP Simon Hughes, and the former cruiserweight champion of the world David Haye.
Other notable residents from the surrounding areas of Borough include actors Jenny Agutter, Chiwetel Ejiofor, Michael Caine and John Boyega, comedian Jenny Éclair, reality TV stars Pete Bennett and Jade Goody, and filmmaker Terry Jones.
Things to consider when moving to Borough
Borough's central location and proximity to an array of amenities and entertainment spots can mean that competition for property in the area can be fierce. From cafés and restaurants to supermarkets, specialty shops, theatres, green spaces and more, Borough is one of the few areas that really can be described as having it all. The likes of the Tate Modern, the Shard and City Hall are all within easy reach, with an array of facilities suited to all ages.
The period properties located around Trinity Church Street and Trinity Square are often comprised of three or four floors, offering ample space for growing families. Many of these properties also have private gardens, which is a charming additional extra. The peacefulness these residential streets can offer gives a real village-like feel, which is remarkable given the fact that the hustle and bustle of the riverside is just a stone's throw away.
Families with school-age children will be pleased to learn that there are more than 30 schools within a one mile radius of Borough. Some of the most notable offerings here include the Charles Dickens Primary School on Toulmin Street, Notre Dame Roman Catholic Girls' School on St George's Road and the Cathedral School of St Saviour and St Mary Overie, all of which have been awarded the prestigious 'Outstanding' Ofsted rating. Other excellent schools include the Oasis Academy South Bank and King's College London Maths School.
Affordability in Borough is also something that requires careful thought, however as prices have fallen in recent years ,now could be the ideal time to get onto the property ladder in a district that can offer peace and quiet despite sitting at the heart of the city's hustle and bustle.