A Snapshot of London’s Property Market, Including House Prices, in All 32 London Boroughs

London property market, house prices and values

London House Prices & Property Market – a Snapshot of All 32 Boroughs

We explore London house prices by borough, where they are and where they’re going together with an overview of the London property market. House prices in London vary considerably across all 32 London boroughs, take a look now at our brief guide.

Inner London

Camden – Have house prices peaked for now?

After several years of consistently strong house price growth, Camden experienced a sudden and rather unexpected slowdown in 2015. According to City A.M., the average price of a residential house in the borough fell sharply from June to July. The average price of a home in this part of the capital is still well over £1million, but this fall suggests that a ceiling may finally have been reached for central London house prices.

The London Borough of Camden is located in north west London, and the borough’s most southern reaches form what is commonly referred to as central London. The borough takes its name from Camden Town, and among the most famous landmarks in the area are the BT Tower, Hatton Garden, the Dominion Theatre and London Zoo.

According to data from Savills, Camden was right at the bottom of a London house price growth league table for 2015. However, the same source revealed that only Westminster and Kensington and Chelsea will have a higher average house price in London in 2020. The Guardian also revealed that rises in house prices for the London borough of Camden will be ‘muted’ during 2016 – as people move out of central London in search of lower prices. This may make it more difficult to sell your house fast in Camden London anytime soon!

Although property values are expected to stabilise in 2016, homeowners in Camden saw an average of around £125,000 added to the value of their home in 2015 alone. To put this statistic into some context, that is around £75 for every working hour of the year. Unfortunately, most Londoners will never come close to being able to afford a home in the London Borough of Camden, and billionaire investors will continue to snap up properties as long-term investments.

Greenwich – will house prices in Woolwich, New Eltham and Plumstead soar over the next five years?

Greenwich has been one of the UK’s top performing areas in terms of London house prices, growth has been good for several years now. Indeed, Homes and Property recently included the London borough in a top 20 list of the UK’s property hotspots. In the Thamesmead Moorings area of the borough, the average sale price in 2015 was a very modest £217,988 – but that represented a 20 percent increase on the previous year.

Greenwich still has an exclusive feel to it, as many of the shops and restaurants in the area are independent. Formally known as the Royal Borough of Greenwich, this historic area of the capital lies in the south east of the city. The borough is world famous for being the location of the Prime Meridian – the point on which all world times are based. Among the most famous landmarks in the area are the O2 Arena, the Old Royal Observatory and the Cutty Sark.

House price growth in Greenwich has been well into the double digits in recent months, and a new development in the borough might be about to send property values skyrocketing. Greenwich’s new ‘urban village’ will include 12,700 new homes in low and high-rise apartment blocks, schools, leisure facilities and a new film studio – right next door to the 02 Arena. All this development will help to create more demand for housing, therefore selling your home fast in Greenwich London may be a relatively simple process.

Until very recently, it was possible to pick up a home in Greenwich for less than £200,000 – albeit a studio apartment. However, the Crossrail link and a series of high profile developments in the area are attracting the attention of wealthy buyers and investors. According to research by the Liberal Democrats, house prices in the area could grow by as much as 250 percent between now and 2026, which could have devastating impacts on social cohesion in this part of the capital. House prices in Woolwich, New Eltham and Plumstead are expected to soar during the next five years.

Hackney – Popular still for house buyers but will house price rises level out over the next five years?

The London Borough of Hackney recently became home to the most new ‘million-pound postcodes’ in the UK. Traditionally a working class area, Hackney now has more million-pound postcodes than Kensington and Chelsea. A rapid process of gentrification in Hackney meant that two percent of its postcodes had an average house price of more than £1 million in 2015.

Located in the north east of Inner London, Hackney is home to more than 230,000 people. Famous for its Victorian terraces, the borough is also home to some recognisable landmarks, including Sutton House, the Hackney Empire and the Grade I listed Medieval St Augustine’s Tower.

Despite a staunchly working class history, Hackney is fast becoming one of the UK’s most impressive property hotspots. Indeed, there are now several wards in the borough with an average house price of more than £500,000, including Victoria, Dalston, Haggerston and Lordship. If you need to , then this should be fairly easy to achieve.

Hackney became London’s property prices top hotspot in 2015. The cost of the average home in the borough rose by 13.6 percent to more than £624,000. With average prices now well over £1million in many areas of central London, Hackney is expected to remain a very popular area of house buyers for at least the next five years. Therefore getting a fast house sale in Hackney London should be a foregone conclusion should you put yours on the market.

Hammersmith and Fulham – Are house price rises stagnating with further rises unsustainable?

Hammersmith and Fulham has historically had higher than average house prices for decades, but there is now evidence that property values could be set for a period of relative stagnation. According to the International Businesses Times, the average price of a home in Hammersmith and Fulham actually fell in 2015 – by 8.7%. There is a feeling that recent house price growth is simply unsustainable in the long run, and many analysts are predicting a period of relative stagnation in central London boroughs over the coming years.

Located in West London, Hammersmith and Fulham is one of the most affluent areas of the capital – with average house prices in excess of £1million. Home to the Westfield London shopping development and the famous Hammersmith Apollo, the borough has several million-pound postcodes. The likes of Shepherd’s Bush, Fulham Broadway and College Park & Old Oak are hugely popular amongst the wealthiest house buyers in the capital.

Hammersmith and Fulham is one of the five most expensive areas of London for house buying, and this statistic expected to remain the same until at least 2020. According to The Telegraph, house price growth over the same period is expected to be amongst the lowest in the capital. Property values seem to have reached a ceiling in the borough – although average earners are still finding it virtually impossible to buy property in the area.

In terms of the percentage of million-pound properties, the London Borough of Hammersmith and Fulham is third to only Richmond upon Thames and Wandsworth. While there are predictions of relative house price stagnation in the borough over the coming few years, the overall trend is expected to be one of growth – that could culminate in an average house price in London of £1million by 2030. Obtaining a quick house sale in Hammersmith and Fulham London will therefore be failry straightforward providing property is priced sensibly.

Islington – House price growth exceptional, is Islington the new Kensigton & Chelsea?

Islington has been one of the more fashionable areas of London for house buying over the last few decades. And while house prices there remain amongst the highest in the UK, future growth is expected to be far slower than in recent years. Indeed, one league table on The Telegraph website has Islington last in terms of house price growth by the year 2020.

Located right in the heart of Inner London, the London Borough of Islington has a population of more than 215,000, but it is the capital’s second smallest in terms of area. This relatively affluent area of London is home to the districts of Kings Cross, Highbury, Highgate, Newington Green, Holloway and Pentonville. Among the main landmarks in the area are Emirates Stadium, Islington Museum, Holloway Prison and Sadler’s Wells Theatre.

According to a recent article on ft.com, a growing number of wealthy buyers from Richmond on Thames, Westminster and Kensington and Chelsea have been turning to Islington for value. Once a working class enclave, the borough is becoming increasingly gentrified and affluent – which has priced all but the richest out of the housing market. Famous for its elegant Georgian and Victorian terraces, Islington is now on the radar of billionaires and foreign property investors

In terms of prime real estate, Islington has been leading the way with exceptional rates of house price growth. According to Property Wire, prices in the upper end of the market rose by more than six percent during 2015. This statistic confirms the long-held belief amongst property professionals that Islington is the ‘new Kensington and Chelsea.

Kensington and Chelsea – House prices susceptible to short term falls

For decades now, house prices in the uber-trendy borough of Kensington and Chelsea have been the highest in the UK. And while they remain amongst the highest in the world, there is evidence that the local market for property is cooling somewhat. According to The Telegraph, the average home in the borough is worth around £807,000, but that is just one percent more than a year ago. Incredibly, this meant that the London Borough of Kensington and Chelsea was one of the UK’s top 10 weakest performers in terms of house price growth during 2015.

The Royal Borough of Kensington and Chelsea is located on the west of London. Although it is the capital’s smallest borough, it is actually one of the most densely populated areas in Europe. The borough is home to several major museums and visitor attractions, as well as the popular retail destinations of Belgravia, Knightsbridge and Notting Hill.

While some property analysts have reported very small house price increases in the borough recently, a recent report on the International Business Times website indicates that house prices in Kensington and Chelsea might be susceptible to short-term falls. In November 2015, property values in the Capital’s most exclusive boroughs fell by 8.7 percent. And while this was more of a blip than a trend, it suggests that growth will be more muted in the near future.

Some of the most expensive real estate in the world can be found in the London Borough of Kensington and Chelsea. Four of the top five most expensive streets in the UK are in the borough, and they are Victoria Road, Egerton Crescent, Manresa Road and De Vere Gardens. The average price of property in these exclusive locations ranges from £6.6million to £8million.

Lambeth – Will Lambeth be the bottom of the pile for house prices in London between now and 2020?

Lambeth was always one of London’s working class enclaves, but huge rises in house prices in the London borough in recent years have completely changed the property market forever. The districts of Herne Hill, Ferndale and Larkhall all now boast average property values in excess of £500,000. Average earners just can’t get on the first rung of the property ladder in this area of London, which is driving up rents and forcing people out of London altogether.

The London Borough of Lambeth is located in the south of Inner London, and with a population in excess of 320,000, it is one of the most densely populated areas in Europe. The borough is known for its beautiful Churches, architecture and the Oval Cricket Ground in Kennington.

Traditionally less fashionable areas such as Lambeth are closing the house price gap on the most exclusive boroughs. During July 2015, house prices in Kensington and Chelsea actually fell by more than seven percent on the previous year. But in Lambeth, the average price of a home rose by 7.8 percent during the same month. According to The Telegraph, Lambeth will be bottom of the pile when it comes to house price growth between now and 2020. However, if recent trends continue, the average cost of a house in the borough will rise to more than £550,000 during the same period.

Lambeth’s incredible rate of house price growth was highlighted in a Daily Mail article recently. Someone who bought a £50,000 Lambeth flat in 1995 could now be living in a £1.2 million luxury home – with careful planning and upsizing over the years. House price increase like this make it difficult for our national homebuyers to purchase homes at a discounted rate.

Lewisham – Further house prices rises predicted as Lewisham becomes a playground for the wealthy property investor

The average price of a home in the London Borough of Lewisham is relatively low in comparison to other boroughs in Inner London, but this could be about to change in the next few years. According to a recent article on the Homes and Property website, the borough is set to record the capital’s highest rate of house price growth between now and 2020. The average house price of £427,000 in 2015 could rise to more than £512,000 by 2020.

Located in the south east of London, Lewisham is home to the University of London and Millwall F.C. Although playing catch-up with other boroughs in Inner London, house prices are rising strongly in areas such as Blackheath, Lewisham, Sydenham, Catford, Brockley and New Cross.

Property specialist Savills is predicting that house price growth in London as a whole will be relatively muted over the next two years or so. However, house price rises in Lewisham is expected to buck this trend. There is a very real chance that the average price of a home in Lewisham will top £500,000 by 2020.

Figures from The Land Registry indicate that homeowners in Lewisham could be set for further growth in house prices over the coming years. In 2015, property values in the borough rose by 12.6 percent, which was well above average for the capital. This once working class enclave of Inner London is fast becoming a playground for the wealthy property investor.

Southwark – In several areas of Southwark, further house price rises are expected over the next five years

How much is my house worth in Southwark? This is a difficult question as Southwark property values and house prices have been rising strongly for several months, and they aren’t showing too many signs of slowing anytime soon. According to an article on The Telegraph website, the average price of a home in the London borough was £631,055 in September 2015, which represented an 8.7 percent hike in property prices in the London borough over the previous year.

The London Borough of Southwark is located in south central London. This area is hugely popular amongst tourists, as it is home to national landmarks such as Tower Bridge, Shakespeare’s Globe Theatre, The Shard and the Tate Modern.

Southwark was one of the best performing London boroughs in terms of house price growth between 2014 and 2015. At a time when many boroughs were experiencing falls in average house prices, values in Southwark rose by 22.4 percent in just 12 months – from £520,547 to £637,274. Large rises in stamp duty have forced many buyers and investors to turn away from the traditionally expensive boroughs in the search of value, and Southwark is one of the boroughs that has benefitted from that.

House prices in several areas of Southwark are expected to continue rising for at least the next five years. Particularly strong growth has been recorded recently in Camberwell, Dulwich, Newington, Peckham Rye, Bermondsey and Rotherhithe. 

Tower Hamlets – Becoming more fashionable, property values rising quickly as a  result

Tower Hamlets may be one of the most deprived areas of London, but it is currently making a major comeback in terms of house prices. According to data from Rightmove  for London house prices, the average asking price for a home in Tower Hamlets has increased by more than £100,000 during the last 18 months or so. A series of new developments is making the once rundown area something of a 21st century property hotspot.

The London Borough of Tower Hamlets is located just to the east of the City of London. Although once one of the most deprived areas in the UK, a series of redevelopments in the area has forced house prices up considerably. This multicultural area of the capital is home to the famous Brick Lane, Canary Wharf, Docklands and Bethnal Green.

As recently as 2014, Tower Hamlets was revealed to be the second most affordable borough in the capital for house buyers – it is now 12th with the average property selling for a little under £500,000. Despite being central, Tower Hamlets has been undervalued for years, and only recently have house buyers been realising that huge bargains are available in the area. Nevertheless, the average home is around seven times more than the average salary, which means a huge deposit is needed for average earners.

Tower Hamlets has come a long way in a short space of time when it comes to average house prices. So much so that people who have lived in the area all their lives are struggling to afford to buy their first home in the area. Tower Hamlets is now one of the most fashionable boroughs of London, and property values/house prices are rising quickly as a result.

Wandsworth – Savills predicts house price rises of up to 10% over the next five years

The London Borough of Wandsworth was the area of the capital with the highest number of million-pound postcodes in 2015, according to a report on the Independent website. 10,007 postcodes in the borough had two or more homes that sold for at least £1million for the first time – as people continue the move away from central London and into the boroughs.

Located in the south west of London, the London Borough of Wandsworth is home to New Covent Garden Market, the Battersea Arts Centre and the London Heliport. The three main constituencies in the borough are Battersea, Putney and Tooting.

Wandsworth is experiencing strong house price growth in many areas, including in the likes of Shaftesbury – where house prices now average more than £750,000. Graveney and Tooting now both have average property values will in excess of £500,000, and there is a chance that this figure could reach £600,000 by the end of 2016.

Although the principle trend is one of house price growth in Wandsworth, there have been a few blips in recent months. According to data from Rightmove, the average price of a home in the borough fell by 6.7 percent in October 2015 alone. While this is a short-term issue, it demonstrates that the property market may reach a ceiling within the next few years. Nevertheless, with up to 10 percent house price growth being predicted by Savills over the next five years or so, the outlook for homeowners in Wandsworth is very positive.

Westminster – Central London house prices have been increasing, but is there signs that this is slowing down?

There is a chronic shortage of housing in Westminster – fuelled by property investors from abroad and a lack of new builds in the borough. Indeed, one report estimates that house prices in the area are currently increasing at the rate of £10,000 per month. According to Homes and Property, the average price of a residential property in the borough was an astonishing £2million in October 2015 – up from £1.87million the previous year.

The City of Westminster is located right in the heart of London, and it is the home of the UK government. The area is littered with major landmarks, which include the Houses of Parliament, Buckingham Palace and 10 Downing Street. The busy shopping areas of Regent Street, Oxford Street and Bond Street are also located in the City of Westminster.

Although the long-term trend for central London house prices, especially Westminster has been an upward one, there have been signs that future growth will be more muted. According to a BBC report in the summer of 2015, house prices in Westminster may have fallen by 22 percent between November 2014 and May 2015. This may be partly due to the fact that buyers and investors are looking further afield for property. It is also the case the many property owners are holding on to their houses and flats as a long-term investment.

Over the course of the last 20 years, house prices in Westminster have risen by more than any other area of the UK. The W1B1 postcode in particular has recorded astonishing growth levels over this period. One report has revealed that the median house price of £200,000 in 1995 is now around £3.9m – an increase of 1,875 percent.

Outer London

London’s property market has been a global phenomenon in recent years – attracting wealthy property investors from all over the world.

Land Registry figures indicate that house prices in Greater London have risen by more than 40 percent during the last three years. While this might sound like great news for the capital, the current situation is very much a double-edged sword.

Home to architectural icons such as ‘The Shard’, ‘The Gherkin’ and ‘The Cheesegrater’, London is a truly global city that continues to prosper. But for many local people, the speed of house price growth has left them unable to get on the property ladder in their own city.

Of course, the current situation in the capital is nuanced, and certain London boroughs are outperforming others in terms of house price growth. There are 32 boroughs in London, and their respective property markets each have their own unique characteristics, challenges and opportunities.

Barking – Affordability driving demand, is this  causing faster than normal house price growth?

Barking is a largely residential suburb located in the east of London. Around 9 miles from Charing Cross, the borough has been growing increasingly popular with affluent city workers during the last five years or so.

The so-called ‘rise of the suburbs’ has involved huge levels of house price growth and burgeoning demand for property. Barking has been one of the boroughs at the centre of this phenomenon.

According to The Independent website, house prices in Barking shot up by nearly 20 percent during the second quarter of 2015. But despite this exceptional growth, Barking and Dagenham was the last London borough to have an average house price of under £300,000 in 2014.

Barking and Dagenham is the number one choice for first-time house buyers in London. Relatively affordable houses and a growing number of new-build apartments are both contributing to a localised property boom. But how long will buyers be able to pick up relative bargains in the borough?

House prices in the London Borough of Barking and Dagenham are the lowest in Greater London at present. However, the ever-growing search for affordable homes in the capital means property values in Barking and Dagenham could continue to grow at a faster rate than the London average for several years to come.

Evidence of Barking’s house-price catchup was provided by The Evening Standard in January 2016, when it revealed that the borough recorded the capital’s biggest year-on-year increase in property values during 2015. Homes in the area increased in value by 15.3 percent to £309,760 – which finally left the capital without a borough where average house prices are below the £300,000 mark.

Barnet – Property bargains hard to come by, except maybe around Cockfosters

The increasingly trendy area of Barnet used to be one of the less fashionable boroughs of London. However, with starter homes in the area now costing an average of £300,000, buying a new home in Barnet is now the preserve of the affluent.

Barnet is the second largest borough in the capital in terms of population – with more than 330,000 people living there. Located in the north of the city, the London Borough of Barnet borders Hertfordshire.

Barnet is widely regarded as a borough of mansions – with a distinctly village feel in places. The highest property values seem to be in Hadley Green and Monken Hadley, which are both eye-catching conservation areas. But nearby Totteridge is where you will find many of London’s billionaires.

More modest house prices in Barnet can be found in the south east of the borough, where semi-detached houses and Victorian terraces dominate the landscape. The areas around Falkland Road, New Barnet and Oakleigh Park are all considered to be middle-of-the-road when it comes to property values.

If you’re looking for bargains, Barnet probably isn’t the London borough for you. That being said, there is still some value to be found around the Cockfosters area.

Unfortunately, most first-time buyers and people on average wages in London will struggle to get on the property ladder in this part of the capital. A large detached house will set you back anywhere between £900,000 and £2.5million. Even a modest flat in Barnet commands an asking price of at least £250,000, while the price of the average terraced house in the borough usually starts from £350,000.

Bexley – A family friendly borough, property prices expected to rise considerably as a result

At a time when the property market in London seems to be reaching a temporary peak, the demand for homes in Bexley has continued to rise. Indeed, an article on The Telegraph website in 2015 revealed that the London borough was the only area in the city where demand for residential property was still rising.

Located in the south east of London, the London Borough of Bexley is around 13 miles from Charing Cross. Originally part of Kent, the borough has been part of Greater London since 1965.

House prices in Bexley soared during 2015, making the borough one of London’s most impressive property hotspots that year. According to the Homes & Property website, the quaint village of St Mary’s experienced house price growth in excess of 30 percent. This pushed the average price of a home in the area to more than £423,000.

But there is some good news for house buyers, as the overall trend is one of relative affordability in Bexley. One recent report revealed that Bexley was the most affordable London borough for house buying in January 2016. Data from property experts CBRE Residential revealed Bexley was home to the lowest house prices in the capital. And rents in the borough were the cheapest too – at just over an average of £1,000 per month.

Two-bedroom family homes in Crayford, Barnehurst, Sidcup and Thamesmead East start at around £350,000. This is relatively cheap by Greater London standards, but the fact that Bexley is considered to be a family friendly London borough means property values should rise considerably over the course of the next two years.

Brent – Local people forced out and into cheaper South East areas, as the gap between house prices and earnings widens

The London Borough of Brent is regarded as one of the up and coming suburbs where house prices are concerned. In July 2015, it was reported that average house prices in Brent were up by 17 percent.

Located in the north west of London, Brent is a mixture of industrial, residential and commercial areas. The home of Wembley Stadium, the borough’s major areas are Harlesden, Kilburn and Wembley.

Once one of the more affordable areas for house buying in London, Brent has been catching up with the rest of the capital in recent years. According to a report on the Ham&High website, there were two areas in Brent that featured in the top 10 London property market hotspots.

Queen’s Park experienced an 856 percent increase in house prices between 1995 and 2015. Nearby Kensal Rise experienced house price growth of 748 percent – taking the average price of a home in the area to more than £632,000. In Queen’s Park, however, the average cost of a house is now in excess of £1million.

The situation house buyers in Brent are facing is one that is forcing many local people out of the capital and into cheaper areas of the South East. According to a report on the Kilburn Times website, Brent is one of the worst London boroughs when it comes to the gap between average house prices and earnings.

The average house price in Brent has increased by £73,000 more than average wages in the borough during the last two years. Most local people simply can’t afford to buy a home in the area, and property is being snapped up by wealthy individuals and investment groups instead.

Bromley – House prices expected to continue rising, leaving average earners unable to afford even modest homes

London boroughs such as Bromley were once regarded as relatively unfashionable – but they have been making a house price comeback in recent years. West Wickham in Bromley, for instance, has an average house price of more than £500,000. Many other areas of the borough are experiencing double-digit annual growth in house prices.

Bromley was once a market town in Kent, but it was integrated into Greater London in 1965 – creating a London borough. Many areas have retained a quaint, village-like feel, which has made the area incredibly popular amongst affluent young professionals.

Buying any type of residential property for less than £250,000 in Bromley is now an almost impossible task. And house prices in Bromley are expected to continue rising, which will leave average earners in the area simply unable to afford even the most modest homes. Petts Wood and Knoll, Shortlands and Chislehurst now all boast average house prices in Brent in excess of £500,000.

Bromley was once regarded as a largely working class area of the capital, but things are changing rapidly. According to an article on the Homes and Property website, the average price of a terraced house in Bromley soared by 16 percent during the 12 months to May 2015. This took the average price of a terraced property in the borough to well over £270,000.

Croydon – House price growth fuelled by affluent house buyers, priced out nearer central London

Croydon is one of the London Boroughs leading the way when it comes to house price growth in 2016. At a time when growth is slowing in the capital as a whole, Croydon recently experienced the UK’s sixth biggest increase in house prices in 2015.

The London Borough of Croydon has the historic town of Croydon at its centre. Located in the south of London, the borough has strong business and financial sectors – which means it holds its own where employment and prosperity are concerned.

According to Halifax, house prices in Croydon rose by 16.1 percent in 2015. To put this into some perspective, the average property value in the borough at the end of 2014 was £283,704. But by the end of 2015, the figure had risen to more than £329,000. Once again, this house price growth is being fuelled by reasonably affluent house buyers being priced out of property nearer the centre of the capital.

In 2015, property values in Croydon rose more quickly than all but four other London boroughs. This means that the average buyers will need in excess of £30,000 in savings just for a deposit. Thornton Heath in particular has experienced exceptional house price growth and a rather sudden increase in demand. Once regarded as a less glamorous area of Croydon, Thornton Heath house prices rose by nearly 15 percent during the year to June 2015.

Many districts in South Croydon and West Croydon have been experiencing double-digit growth in recent years. And there is also evidence that homes in areas such as Addington, Addiscombe, Monks Orchard and Upper Norwood are in high demand amongst affluent workers who are being priced out of buying a home in the centre of London.

Ealing – Crossrail effect could increase Ealing house prices by 50% up to 2020

Ealing’s house price growth over the course of the last decade has been nothing short of remarkable, and most property analysts are expecting this trend to continue for several years. An article on the GetWestLondon website revealed that property values in the London borough of Ealing could rise by up to 50 percent between 2016 and 2020 – thanks to new Crossrail links.

Located in West Central London, the London Borough Of Ealing is around eight miles from Charing Cross and 12 miles from the City of London. Once a village in its own right, Ealing started to develop as a suburb of central London during the 19th century.

House prices in Ealing are now at a record high. According to the Ealing Today website, property values in the W13 area soared by more than 9 percent during 2015. A standard, three-bedroom terrace in this part of Ealing will now set you back at least £700,000, and more growth is expected in the coming months as buyers clamber for property near the West Ealing and Ealing Broadway Crossrail stations.

A number of developments are currently underway in the London Borough of Ealing, including major home building projects at Dickens Yard and Cavalier House. House prices in most areas of the borough are rising as a result of new developments, the Crossrail link and over-heating prices in central London. Park Royal and Acton are becoming real property hotspots, and this is expected to continue for at least the next five years.

If you’re looking for homes near good schools then consult local estate agents in Ealing. According to an article on the Homes and Property website, two bedroom apartments near a primary school being built at the Jigsaw homes development in West Ealing are selling from £550,000. With house prices like these, an increasing number of local people are looking further afield for affordable housing.

Enfield London – Continued house price growth expected

Enfield’s property market continues to go from strength to strength as people look for more affordable property away from the centre of London. According to Homes and Property, house prices in the London Borough of Enfield rose by 13.9 percent to a little under £346,000 during 2015. This sort of growth is expected to continue right through to 2020.

Located in the north of Greater London, the London Borough of Enfield surrounds what used to be Enfield Town – small market town in Middlesex. As London grew during the 19th and 20th centuries, this part of the capital came to be regarded as a suburb, and it was granted official borough status in 1965.

Overall, 2105 was a stellar year for homeowners in Enfield. According to the Moneywise website, the average price of a house in the borough rose by 13.4 percent over the course of the year – a figure only bettered by the London Borough of Hillingdon. And a report in the Mirror revealed that Enfield was one of the UK’s top 10 performers – in terms of both demand for property and house price growth – during 2015.

The trend for Enfield homes as a whole is one of continued house price growth. Rightmove has revealed that Enfield’s average house price will grow by at least 39 percent between 2014 and 2019 – the fifth largest rise in the whole of the UK. Property values for Enfield homes across the borough are soaring, but the strongest growth has been in Cockfosters, Winchmore Hill, Southgate, Ponders End, Palmers Green, Grange Park and Edmonton.

Haringey –  Acres of green spaces, gentrified neighbourhoods – 5 year London house price forecast forecast – further growth expected

Once one of London’s more affordable boroughs, Haringey now has an average house price that is pricing most incomes out of its property market. According to a report on the Property Week website, doctor, solicitor and journalist households were able to afford a home in the London Borough of Haringey in 2015 – but lower paid professions were simply priced out of the market altogether. But if the recent trend of exceptional house price growth continues in the area, even these relatively affluent people will not be able to cover the cost of a house purchase within a year or two.

Located in the north of Greater London, Haringey is home to some of the capital’s most famous landmarks, including Alexandra Palace, Bruce Castle and Tottenham Hotspur’s White Hart Lane. Despite recording exceptional growth in property prices in recent years, there are certain wards in the borough that are considered to be amongst the most deprived in the south east. Tottenham Hale and Tottenham Green have had significant social and economic problems to deal with in recent years.

But Haringey is a borough of contrasts. While some of the wards to the east of the borough are relatively deprived, several in the west are experiencing very high rates of house price growth – particularly in Highgate, Muswell Hill and Crouch End. Indeed, Muswell Hill is fast becoming one of the trendiest areas of London for the middle classes. According to a recent report on The Telegraph website, the area is ‘awash with residents working in the law, media and creative industries’. And with an average price of more than £600,000, most properties in the area are beyond the pocket of London’s average wage.

Haringey now has an overall average house price of more than £525,000. And thanks to the borough’s acres of green spaces and gentrified neighbourhoods, further house price growth is expected. In Haringey, London the house price forecast for the next five years is on an upward trend.

Harrow – House price growth around 17 percent in 2015 year, property values catching up other Greater London areas

According to data from The Telegraph website, Harrow was one of a minority of London boroughs with an average house price of below £500,000 during 2015. But with house price growth at around 17 percent that year, it won’t be too long before property values in Harrow catch up with others in Greater London.

The London Borough of Harrow is located in the north west of the capital – bordering the county of Hertfordshire and the boroughs of Ealing, Brent, Barnet and Hillingdon. Perhaps the most famous landmark in the borough is the famous Harrow School, which is an independent school for boys that has been open since 1572.

House buyers across the capital are now wise to what is happening in London’s property market. Boroughs such as Harrow have been languishing behind others in terms of property prices for decades. But with so many seemingly affluent people being priced out of house buying in more ‘prestigious’ boroughs of the capital, an increasing number of professionals are turning to the likes of Harrow. The borough enjoyed house price growth in 2015 that was five percent higher than the London average.

In 2015, the average price of a property in the London Borough of Harrow was still a rather modest £380,000 – which was 12 percent up on the previous year. But this figure is expected to soar well above £400,000 during 2016, and could hit half a million by the end of the decade. Areas such as Pinner and Stanmore Park are driving the current rate of house price growth.

Havering –  House price growth estimated at more than 40% between now and 2020

The London Borough of Havering has experienced exceptional house price growth in recent months. Indeed, the borough enjoyed the third highest rate of growth in the capital in 2015. That said, property values in the borough were – and still are – well below average. It is apparent that an increasing number of buyers are turning to Havering in search of affordable homes. This could be one of the last areas of London to offer affordable housing to the middle classes. People are looking for lower prices, more space and better value for money, and Havering house prices are reflecting this.

Havering is located in the far east of Greater London, and it is characterised by large areas of open space and suburban neighbourhoods. House prices in the principal towns of Romford, Upminster, Hornchurch and Rainham are rising quickly, and demand for property in these leafy suburbs is high. The redevelopment of the Thames Gateway and the surrounding areas is expected to increase demand for homes in the area further over the coming years.

Havering has been one of the London boroughs to benefit greatly from the Crossrail route. The resultant, and rather sudden, increase in demand for homes near Crossrail stations will lead to major house price rises between now and the end of the decade, according to an article on the Romford Recorder website. Some estimates put house price growth in Romford at more than 40 percent between now and 2020.

Havering was recently designated as a special ‘housing zone’ by the Mayor of London. The scheme is part of a major drive to increase housing supply in the capital, and it will involve the building of 12,000 new homes – 3,500 of which will be ‘affordable’. It is estimated that 56,000 homes will be needed in the capital every year for the next 10 years, and the relatively large amount of spare land in Havering means it could be home to a very high percentage of those new properties.

Hillingdon – Will Heathrow Airport expansion lead to house price growth in Hillingdon?

Hillingdon is expected to be one of the capital’s property hotspots in 2016 and 2017. Some analysts are predicting that house prices will actually fall in certain areas of London, but double digit property value growth is being predicted for the London Borough of Hillingdon. According to a report on the IBT website, the average house price in the borough soared by 18 percent to more than £465,000 in January 2016.

The London Borough of Hillingdon is the westernmost borough of the capital, and with a population of more than 270,000, it is actually larger than many cities in the UK. The second largest of London’s 32 boroughs, Hillingdon is home to Heathrow Airport and Brunei University.

Homeowners in Hillingdon can look forward to a bright future of rising demand and property values in the borough. According to a report on the Homes and Property website, Hillingdon recently replaced Newham as the capital’s fastest growing borough in terms of house prices. Land Registry figures revealed that the average cost of a house in the borough was £348,000 in August 2015 – a rise of 14.6 percent. And while the borough is the sixth cheapest for house buying in the capital, it is becoming increasingly popular with people being priced out of property in Hanwell and Ealing.

Opinions still differ on whether or not an expansion to Heathrow Airport will lead to house price growth in Hillingdon in the future. Whereas the influx of jobs will increase demand for housing around the airport, increases in air traffic might make properties in the area less desirable. Hillingdon is already home to 40 percent of Britain’s busiest roads, and more congestion could create real problems for motorists. Thankfully, data from eMoov.co.uk has revealed that traffic congestion has a limited effect on nearby house prices.

Hounslow – House buying spotlight will be firmly on Hounslow when Crossrail link established

As more and more people in the capital look for affordable housing, the London Borough of Hounslow has been benefitting from steeply rising demand and property values. The City A.M. website revealed last year that Hounslow saw the biggest increase in demand for homes of any of the 32 London boroughs during the fourth quarter of 2015.

Hounslow is home to a number of industries related to the operations of Heathrow Airport. Located in the far west of Greater London, the borough is home to product assembly, marketing and telecommunications businesses.

There is real value to be found in certain areas of Hounslow, despite unprecedented levels of house price growth in the capital as a whole. According to The Telegraph, Hounslow average house prices will be among a minority that will be under £500,000 in 2020. With growth of between 12 and 14 percent being recorded in certain areas of the borough, the next few years could be the ideal time for local people to take advantage of unusually low house prices.

As recently as November 2015, there were studio apartments for sale in Hounslow for under £200,000 – almost unprecedented in Greater London these days. The Trinity Square development drew massive queues of potential buyers – many of whom camped overnight. It seems that buyers are keen to take advantage of great value before it ends. The Crossrail link to Heathrow is expected to open in 2018, which will get people to Bond Street in under 25 minutes. Once the Crossrail link happens, the house buying spotlight will be firmly on Hounslow, and house prices could start to rise even more steeply as a result.

Kingston upon Thames – Will house prices stagnate, even with high demand?

Kingston upon Thames is experiencing a phenomenon that is being replayed in several different boroughs of Outer London. Once relatively low house prices are rising rapidly – because of people looking farther afield than the centre of London for affordable housing. According to The Telegraph, Kingston upon Thames is one of the top 10 most affordable boroughs in London in terms of house price to earnings ratio. But things are changing.

The Royal Borough of Kingston upon Thames is located on the south west of London, and its major suburbs include the affluent areas of Surbiton and Chessington. Among the main landmarks and attractions in the borough are Chessington World of Adventures, Hampton Court Palace and Richmond Park.

According to research by a local property specialist, the average house price Kingston upon Thames actually fell slightly between November 2014 and November 2015 – by 0.6 percent. However, there are still certain areas of the borough where house prices are still rising very strongly, including Surbiton, Kingston Vale and Alexandra.

In early 2016, Tepilo revealed the top locations for house price growth v commute cost, and Surbiton in Kingston upon Thames featured prominently. The average earner would have to work for just 11 days to pay off the cost of an annual travel pass from Surbiton to central London.

In July 2015, ITV reported the average house price in Kingston upon Thames as £429,296, which represented a 10.3 percent increase on the previous year. While some reports suggest that prices could stagnate in Kingston upon Thames in 2016, there is no doubt that demand for property in the borough will be high for many months to come.

Merton – Could become more popularas other Inner London areas stagnate

As recently as December 2015, Homes and Property was reporting that Merton was leading the way with house price growth in London. According to the article, property values in the London borough had rise by an astonishing 30 percent over the course of the year. Among the best performing districts of the borough were Wimbledon and Mitcham – taking the average price for the entire London Borough of Merton to more than £670,000 by the end of the year.

Located in the south west of Greater London, Merton is a predominantly affluent borough of Outer London, and home to Morden, Mitcham, Wimbledon, Raynes Park and Pollards Hill. Among the main landmarks in the borough is the Baitul Futuh Mosque, the largest in Western Europe. And of course, the world’s most popular tennis tournament takes place in Wimbledon every year.

Merton delivered double digit growth in house prices during 2015, but it was still in the bottom half of the London growth league table. According to data from The Telegraph, the average house price in Merton will be more than £550,000 by 2020. As house prices in Inner London boroughs start to stagnate, the likes of Merton will become increasingly popular with the middles classes in the capital.

Merton’s leafy suburbs are proving very popular with affluent young professionals in the capital. According to one report on the Property Wire website, house prices in the borough shot up by 4.6 percent in a single month during 2015. But there are mixed reports out there about property values in the area. According to an article on the City A.M. website, house prices in Merton actually dropped by 7.3 percent in December 2014. While this was a blip rather than a sign of a growing trend, it proves just how volatile the property market in the capital is right now.

Newham – House prices soaring despite Newham’s label as one of the poorest London boroughs

According to Halifax, Newham experienced the UK’s largest overall rise in house prices during 2015. The London borough is proving to be very popular with affluent buyers who are being priced out of the increasingly expensive market in central London. According to the UK’s biggest lender, house prices in Newham jumped by 22 percent during 2015 – the highest rate of growth recorded in Britain.

Located in the East London, the London Borough of Newham is just five miles from the City of London. The borough was one of six to host the 2012 Olympic Games, and was home to the vast majority of the facilities used in the Games, including the Olympic Park itself. The borough is home to several highly populated districts, including Stratford, West Ham, Canning Town, Plaistow and East Ham.

Some financial analyses have concluded that Newham is London’s poorest borough, but this hasn’t stopped house prices in the area soaring in recent months. According to a report on the International Business Times website, house prices soared by 20.9 percent during 2015 – taking the average price of a home in the multicultural borough over the £400,000 mark for the first time.

There is increasing concern that Newham’s identity is being eroded by the recent surge in house prices. When property values rise in an area, so do rents. Many people who were born and raised in Newham can never hope to own a property in the borough – and an increasing number of simply unable to afford the average rent. However, Newham has been one of a few less affluent boroughs to promote a shared equity scheme for long-term residents. It is hoped that this scheme will help people to put down permanent roots in the area.

Redbridge – House prices increase 15% in 2015, but further growth expected over the next 5 years

During the mid to late 20th century, Redbridge was regarded as one of the less popular London boroughs in terms of house buying. But with prices overheating in central London, the borough’s property market is currently booming. During the year to June 2015, house prices in Redbridge rose by around 15 percent, and more growth is expected annually over at least the next five years.

Located in the north east of London, the London Borough of Redbridge is known for its leafy suburbs, award winning parks and excellent facilities. There is a surprisingly large amount of open space and woodland in the area, much of which is protected from development. House prices in most areas of the borough are currently rising, including in Ilford, Seven Kings, Goodmayes and Newbury Park.

In an attempt to increase the capital’s housing stock, the Mayor of London has designated Redbridge a ‘special housing zone’. This means that thousands of homes could be built in the borough over the next few years – attracting new house buyers and pushing up local property values.

Although there is still some value to be found in the Redbridge property market, house prices in the borough are catching up with those in Inner London fast. According to an article on the Homes and Property website, Redbridge is one of the top 10 fastest rising boroughs in terms of house prices. The average price of a home in the borough was £445,398 in December 2015 – which represented a huge 20.3 percent increase on the previous year. The average monthly rise in house prices in Redbridge was 2.8 percent in 2015.

Richmond upon Thames – Will house prices increase during 2016/2017?

Richmond upon Thames has always been one of the more expensive boroughs in Outer London, and it seems that the double digit rates of growth that have been recorded in recent years may be a thing of the past. According to City A.M., Richmond upon Thames is one of the boroughs which is experiencing sudden falls in house prices from time to time. In July 2015, the average price of a property in the borough fell sharply. Although the average house price is still more than £825,000, it seems that a plateau may have been reached – at least temporarily. For more detailed information on selling a property in Richmond upon Thames, try our Richmond Property Guide.

Richmond upon Thames is located in West London, and it is the city’s only borough to cover two different sides of the Thames River. The main urban centre of the borough is the town of Richmond. Among the many landmarks in this part of London are Kew Gardens, Twickenham Stadium, and the WWT London Wetlands Centre.

Despite already having some of the highest house prices in the capital, Richmond recorded another year of unprecedented growth. Indeed, one report revealed that an average of nearly £74,000 was added to homes in the borough during 2015 – putting it in the top 10 London boroughs. To put his into some context, more than £40 was added to the average property value every working hour throughout the year.

It is clear that house prices in Richmond will continue to rise throughout 2016 and 2017 – but by how much is a moot point. Many experts believe that there isn’t too much room left for growth in the most affluent areas of the capital. Nevertheless, 16.2 percent growth was recorded in the borough for 2015 – which took the average price of a house in Richmond to an astonishing £906,934.

Sutton – House prices up 18% in 2015, but still affordable for house buyers

Selling your house in the London Borough of Sutton should be relatively straightforward, despite Sutton  playing catch up in terms of house price growth in the capital. It is now experiencing one of the fastest rates of growth anywhere in the UK. According to an article on the Independent website, Sutton has been one of the boroughs involved in the so-called ‘rise of the suburbs. With house price growth of 18 percent in 2015 alone, Sutton is still home to value for people looking for more affordable house prices in the capital.

Located in the south west of London, Sutton is an increasingly popular suburb of Greater London because of its exceptional schools. Crime levels are amongst the lowest in the south east of England, and a range of parks and open spaces make this a fantastic place for families and retirees alike.

Despite huge levels of property value growth, Sutton was recently listed as one of London’s top 10 most affordable boroughs for house buying. The average house cost less than £330,000 in 2015, and although that figure is rising fast, there are still some great value to be found.

Due to exceptionally high property values throughout Inner London and the more affluent areas of Outer London, there has been a rush to buy property in the capital’s ‘cheaper zones’. And according to Homes and Property, Sutton has been the borough benefiting most from the situation. According to the report, the average home in Sutton sells for five percent more than its asking price – the highest in London. If a homeowner lists a house for the average price of £342,000, this could mean a £17,000 windfall.

Waltham Forest – House prices predicted to be the highest in London, over the next five years

Waltham Forest is another London borough that is set to break house price growth records between now and 2020.According to the Guardian website, annual house price growth in Waltham Forest could exceed 20 percent within five years. Some property experts are predicting that the average house price in Waltham Forest could exceed £471,000 by the end of 2020.

The London Borough of Waltham Forest is located in the north east of the city, and it is largely residential in nature. However, parts of Epping Forest are located within the borough, as well as some urban parks and reservoirs. Among the largest districts in the borough are Chingford, Leytonstone and Walthamstow.

While statistics on house prices in Waltham Forest differ, the local authority’s website revealed that property values rose by an astonishing 28 percent between 2013 and 2014. Gentrification has transformed large swathes of the borough, and more affluent house buyers have been attracted to the area as a result. Indeed, Walthamstow has attracted a new breed of East London property millionaire, according to The Guardian. Waltham Forest topped a recent league table of boroughs with an annual increase in the number of million-pound properties – 56 percent in 2015.

Waltham Forest has been a refuge for house buyers being priced out of property in more central areas of London. But this is changing fast, as more and more people are snapping up reasonably priced properties – and paying over the odds for them. Homes and Property is predicting that house price growth in the borough will be the highest anywhere in London over the next five years. While this is great news for homeowners, (Selling a house quick in Waltham Forest should be a breeze), it could make first-time house buying for average salary earners almost impossible in London by the end of the decade.

London house prices and the property market generally will continue to attract interest from house buyers and property investors for the forseeable future.

Will the London house price bubble continue or will there be a ‘London house price crash’? We doubt it – a shortage of house building coupled with high demand from the local population and property investors alike, will ensure that house prices in London continue to rise, and property ownership will remain unaffordable.

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