London is one of the most diverse cities in the world. It brings together people from all kinds of countries, creating colourful areas with a great mix of cultures. One of the most interesting areas is Stockwell. It is lovingly known as “Little Portugal” but is seeing a lot of change. As the top lettings agent Lambeth has, we want to take a closer look at the area.
Stockwell is an interesting district in South London. However, for years it could fly under the radar because of its more reputable neighbours like Battersea, Camberwell, and Brixton. Today though, it is a spot that gets a lot of attention.
How it started
Originally the area was a rural manor with market and botanical gardens. It then became a middle class suburb in the 19th century. The 20th century was a harder time though. There was extensive damage in WWII. As a result there was a lot of rebuilding to do. The area around the tube station changed dramatically. There was also the creation of more social housing.
The 60s and 70s was when the area got its reputation as a home for Portuguese. A lot of families chose the spot for its cheap rents. The community grew in response, with cafes, delis, restaurants, and shops all popping up. Today Portuguese is the second most common spoken language in Lambeth.
Change
However, things have been changing a great deal in the last decade. Neighbouring areas have become hotspots for residential towers, drawing new residents from around the world. Stockwell itself is also in the spotlight because of its great transport links. People now want to live there so they can easily commute into Central London whilst also enjoying the diverse culture.
The popularity is reflected in house prices. In 2012 the average price was £389,422. In London terms that is really affordable. However, values have grown by 62% in the last ten years. Now the average is £632,574 according to Foxtons. That is down from the 2021 peak of £731,447, but is still an impressive rise.
Rents are also up in the area because of the rise in demand. That is great news for landlords. It is something we appreciate too in our role as one of the best options for a lettings agent Lambeth has.
The area is also even more diverse today. While Portuguese is still the most prominent, there are also people from China, America, and Arabic nations among others.
The changes also give the area a different feel. In the early 2000s the reputation wasn’t the best and it was a little forgotten compared to its neighbours. Today it feels more upmarket, more VIP.
Speak to us if you want a lettings agent in Lambeth
Finefair Ltd loves when areas enjoy this kind of change. It can bring some fantastic rewards for investors and landlords. We are happy to help with this, particularly with the guaranteed rent and letting solutions we can provide.
So, if you want help from the top letting agent in Lambeth, choose us. You can get in touch to find out more about what we do for you and how you benefit.
