Herne Hill & Dulwich: Still Prime, But Prices Are Gently Easing
With the Autumn Budget just around the corner, there’s a sense of anticipation — and a touch of nervousness — in the air.
Here in Herne Hill and Dulwich, we’re still seeing strong demand for quality homes, but there’s no denying that the market has cooled a little as buyers and sellers wait to see what the Chancellor has planned.
A Market Catching Its Breath
After two busy years of post-pandemic moves and record prices, things are starting to level out.
According to recent data, average prices in Herne Hill (SE24) sit around £887,000, down about 7% on last year. In Dulwich, homes asking prices dipping around 2.5% over the past six months.
That doesn’t mean the market’s gone quiet — far from it. The right homes, priced realistically, are still attracting plenty of viewings. But buyers have become more cautious, taking their time and comparing value carefully.
Budget Jitters at the Top End
Most of the hesitation we’re seeing comes from uncertainty ahead of the Autumn Budget. There’s been talk of potential changes to stamp duty, capital gains tax, or even a new mansion tax, which naturally makes higher-end buyers pause for thought.
That’s especially true here, where many homes in Dulwich Village, North Dulwich, and Herne Hill’s leafy streets comfortably sit above the £1 million mark. People are waiting for clarity before making big decisions — and who can blame them?
Still Prime, Still Desirable
Despite the cooling, Herne Hill and Dulwich remain two of South London’s most sought-after areas.
The combination of beautiful period homes, outstanding schools, and green open spaces — from Brockwell Park to Dulwich Park — continues to draw families and professionals who want community as well as convenience.
We’re still seeing great interest in well-presented family homes, especially those with gardens and flexible living space. These properties don’t stay on the market for long — but pricing them right is more important than ever.
A Time for Realism, Not Worry
It’s easy to get spooked by headlines, but this isn’t a crash — it’s a reset.
The market is finding its new balance after years of rapid growth. In truth, a little more realism is healthy. It gives serious buyers a chance to move, and motivated sellers the opportunity to get ahead before the post-Budget bounce.
Our advice to sellers right now is simple:
- Present your home beautifully — first impressions really do count.
- Price it smartly, in line with the current market, not last year’s.
- Be ready to move when the right buyer comes along.
What Happens Next?
Once the Budget is out and the uncertainty clears, we expect a small surge in activity as people who’ve been holding off decide to get on with their plans. Whether prices rise again or settle for a while, the fundamentals in Herne Hill and Dulwich remain strong — and that’s what matters long term.
At Greater London Properties, we’ve seen these cycles before. Prime markets may wobble now and then, but good homes in great locations always find their buyer.
If you’re thinking about selling, this could actually be the perfect time to start planning. We can give you an honest, data-backed valuation and talk through your options — calmly, locally, and with no pressure.
Warm regards,
Kate & Rob Hill
Founders, Greater London Properties & Support Our School