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London Property Market 29 May 2015

Chestertons Residential Observer - May 2015

House prices - London

  • The latest data from the Land Registry show that average sold house prices in London rose by 11.3% in the year to March. This is lower than the previous month's figure but nonetheless comfortably outstrips inflation.
  • At borough level, annual house prices are still rising fastest in Newham (+19.8%) but Greenwich (+18.8%) now moves into second place. Price growth remains slowest in the core prime boroughs of Westminster (+9.9%) and Kensington & Chelsea (+5.2%).

House prices - National and regional

Land Registry data show that average house prices in England & Wales rose by 5.3% in the year to March, down on the previous month's figure of 6.5%.

  • Outside London, the South East (+10.1%) has overtaken the East as the region with the fastest rising house prices over the 12 months to March. In contrast, annual prices fell by 2.9% in the North East where the average house price is still below £100,000.