London Property Prices | Averages for London Boroughs
Please visit our London Conveyancing Solicitors page for London's current average property prices.
London, like the rest of the country, has experienced a rocky month in terms of house prices. All boroughs apart from Hackney and Greenwich have seen a fall in property prices. However, there is no need to panic about London house prices just yet. It is suspected that the wet weather and the Olympics are having a huge impact on the sale of properties. Sellers in a bid to move before the start of the new school year in September are therefore lowering prices in order to achieve quick sales. If you are a cash ready buyer who is eager for a fast completion now is the perfect time to buy as prices are likely to bounce back up again in September!
Every month Rightmove, the UK’s biggest property portal, releases their house price index, detailing the average asking price for London property. Rightmove have found that Kensington and Chelsea remains the most expensive London borough to move to with average prices being well over £2,000,000. This is an increase of 10.8% on last year. Over the last year Camden has had the biggest increase in price with house prices rising by 16.4% from £796,000 to £926,000 making it the third most expensive London borough to buy property in.
|Borough||Avg. Price July 2012||Avg. Price June 2012||Monthly Change||Avg. Price July 2011||Annual Change|
|Kensington and Chelsea||£2,031,000||£2,140,000||-5.1%||£1,833,000||10.8%|
|City of Westminister||£1,331,000||£1,401,000||-5.0%||£1,327,000||0.3%|
|Hammersmith and Fulham||£868,000||£912,000||-4.9%||£780,000||11.2%|
|Barking and Dagenham||£217,000||£221,000||-2.1%||£213,000||1.8%|
|London's Top 5||Avg. Price June 2012||Avg. Price May 2012||Monthly Change|
|London's Bottom 5||Avg. Price June 2012||Avg. Price May 2012||Monthly Change|
|Kensington and Chelsea||£2,031,000||£2,140,000||-5.1%|
|City of Westminister||£1,331,000||£1,401,000||-5.0%|