Chestertons Residential Observer - October 2014
The average house price now stands at £460,521.
Nick Barnes, Head of Research
Top 5 London Boroughs
- Lambeth - 28.6%
- Waltham Forest - 26.4%
- Lewisham - 26.2%
- Southwark - 26.0%
- Hammersmith & Fulham - 24.6%
Average annual sold prices in London also slowed in September but nonetheless remained punchy at 18.4%. The average house price now stands at £460,521. The less central, lower value boroughs continue to see the strongest price growth, with Lambeth (+28.6%) and Waltham Forest (+26.4%) leading the way. Nonetheless, in the prime Kensington & Chelsea borough prices rose by a not inconsiderable 15.2% over the same period.
Average sold prices in the capital continue to defy logic – high double digit growth cannot be sustainable long term. It is usually the prime sector which experiences a slowdown first – but is also first to lead the subsequent upturn. Prime values are already slowing, so expect the wider market to follow by next year.
Read our full update below on house prices, rental values, housing market activity, the mortgage market, and tax and regulatory news.
Download Chestertons Residential Observer - October 2014