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London Property Market 26 June 2015

House Prices June 2015

The expected post-Election pick-up in house price growth has yet to materialise. This is surprising given the shortage of available properties to buy and the strength of buyer appetite.

Nick Barnes, Head of Research

House prices - London

  • Land Registry data reveal the rate of annual house price growth in the capital has been trending downwards since August last year although it remains robust (+10.9% in April) and still way ahead of the rest of the country.
  • Newham (+17.2%) remains the borough with the fastest rising house prices on an annual measure with Lewisham (+16.4%) and Enfield (+16.3%) moving up to second and third place respectively. Annualised price growth continues to slow in the prime central areas of Westminster (+6.4%) and Kensington & Chelsea (+4.4%).

House Prices - National & Regional

  • Price growth at national level also continues to slow (+5.1% in the year to April 2015) according to the Land Registry.
  • The South East retains its pole position as the region with the fastest rising annual house prices but growth has slowed to 8.8% compared to 10.1% in the previous month.