The Seller's Tale - Chaucer Road, where a three-bed house fetched £500,000 this year Google Street View

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THE residents of Herne Hill in south-east London have had their cover blown. Despite the downturn, young couples have caught sight of the leafy enclave’s potential for affordable period living.

One road in particular has been subject to a remarkable flurry of activity. “Sold” boards have sprung up seven times in as many weeks in Chaucer Road. It’s a tree-lined architectural gem, part of Poets’ Corner: a conservation area, its rows of show homes were built for a Victorian exhibition.

“The pocket of activity around Poets’ Corner in the past few months has been unexpected,” says Diana Burn of estate agency Oliver Burn. And demand shows no sign of diminishing as one of her properties there, a two-bed garden flat advertised at £285,000, goes to an auction of sealed bids today.

Matt Flay of estate agency Burnet Ware & Graves says: “Poets’ Corner is pricier than the majority of Herne Hill because all the properties are in keeping with their original state – for example, if you want double-glazing, it has to be sash windows.”

Burn adds: “In the past 10 years, Herne Hill has become a thriving, family-orientated part of south London.”

Resident and TV producer Emily Fielden, 40, says: “The only downside to the place is it’s no longer secret – more people are moving here.”

So what is it about Herne Hill that’s defying the downturn? The area is packed with Victorian properties, and bay windows, high ceilings and worked cornices come as standard. It’s sandwiched between the rough edge of Brixton and the pretentious deli-haven of Dulwich.

Prices also lie somewhere between the two with one-bed flats (without a garden) generally going for £210,000 and two-beds for £250,000. Tenants get a good deal, too, with one-beds from £750 a month, and two-beds at £1,000.

Typical buyers in Herne Hill are young couples looking to start a family.

“We get people from Clapham and Fulham looking for more space for their money,” says Burn.

Poets’ Corner draws media and TV types, but the rich are holed up in the North Dulwich Triangle, just south of Herne Hill station, where prices regularly top £1m.

Residents include actor James Nesbitt and MP Harriet Harman - the Fathers 4 Justice protesters who scaled her roof last year have left.

One of the main draws for celebrities and plebs alike is Brockwell Park, with its tennis courts, walled garden and lido.

Charity worker Heidi Budino, 28, says: “The park is a retreat and not as hectic as Clapham Common at the weekend. It’s peaceful to relax with friends, with amazing fish and chips from Olley’s fish bar.”

The lido has been refurbished with a gym, but pack some sandwiches as the cafe is still closed.

Transport is another plus, at least for Poets’ Corner, as Brixton Tube station is just a 10-minute walk away. There is Herne Hill railway station, too, and plans are afoot to pedestrianise the road in front of it.

One of the few downsides is crime. Herne Hill was the 14th hottest ward in London for residential burglaries according to Metropolitan Police figures compiled last year – worse than Brixton.

"In the past 10 years, Herne Hill has become a thriving, family-orientated part of south London"

But this clearly hasn’t put off buyers looking for a slice of Victorian living without the Dulwich price tag.

‘A VILLAGE WITH AN OPEN MIND'

TV producer Emily Fielden, 40, lives with her husband Paul Koloi, 36, a trainee teacher, in Mayall Road, Herne Hill. They bought their three-bed house for £242,000 in 2003 (estimated value in 2009: £400,000).

“There’s life whatever time of day it is,” says Emily. “So many people here are freelancers and tele-folk like me, working from home.”

Paul says: “Herne Hill is like a small village packed with families open-minded enough to be close to edgy Brixton. The Prince Regent pub in Dulwich Road is a great place to socialise – there’s a large open area inside, good for buggies.”

He adds: “We’re lucky to live near Poets’ Corner. It’s beautiful but there’s a community spirit as well – it’s not about keeping up with the Joneses.”

PLACES TO BE SEEN IN SE24

Number 22, 22 Half Moon Lane

Intimate, dimly lit tapas bar. The chorizo paella makes daters salivate.

Olley’s, 65-69 Norwood Road

Supposedly the best chippy in south London. The cute mini restaurant is enthusiastically furnished but a takeaway is closer to a tenner than a fiver.

Lombok, 17 Half Moon Lane

Thai restaurant and takeaway offering a seafood curry with chunks of lobster.

Pullens, 293-295 Railton Road

This cafe is a post-work haven for food and a good glass of wine. The sea bass on fennel is recommended.

The Florence, 131-133 Dulwich Road

Gastropub in the same vein as The Clarence in Balham. Evenings are busy with 20-30-somethings clustered around the large bar.