London house prices: The change in house prices for the 33 London boroughs shows Haringey was the biggest gainer and Islington was the biggest faller
Sales of London homes to the end of April were 29 per cent lower than the same period last year, according to Your Move’s latest England and Wales house price index.
House prices in the capital continued to rise, up 2.7 per cent in the year to April 2017, but this is the second lowest annual rise seen in London since March 2012. The average house price in London at the end of April stood at £615,838, up 0.1 per cent on the month before.
Haringey was named the best performing borough, with house prices up 12.5 per cent annually thanks to an increase in prices of flats. In contrast, Islington was the worst performer with house prices down 10.4 per cent following a surge in sales of terraced houses ahead of the three per cent stamp duty surcharge on second homes introduced last year.
The index also found that prime property in the capital registered strong growth on an annual basis.
Kensington and Chelsea, where average prices stand at £1.9m, enjoyed annual growth of 8.8 per cent while house prices in the the City of Westminster rose by 9.7 per cent. Meanwhile, the City of London saw the biggest monthly increase up 9.6 per cent to £998,709.
Read more: What the General Election results mean for house prices
Meanwhile, average house prices in England and Wales during May reached new peak of £303,200 despite “General Election uncertainty”, Your Move said.
Transactions in the north east (up 10 per cent), North West (six per cent), Yorkshire and Humberside (seven per cent), East Midlands (four per cent), West Midlands (six per cent) and Wales (13 per cent) are all higher in the three months to the end of April 2017 than the same period in 2015.
Read more: These are the best places to buy a property in the UK
Meanwhile, transactions in greater London and the south east are down by 19 per cent and seven per cent respectively.
Oliver Blake, managing director of Your Move and Reeds Rains estate agents, said: “There was a lot of talk about housing from the parties in their election manifestos, it’s now time for those words to be put into action.
“The market remains resilient and there’s encouraging activity in the north, but we need to urgently address the serious blockages in house building holding back labour mobility and economic competitiveness in too many areas of the country.”
RANK
LONDON BOROUGH
Apr-16 (£)
Mar-17 (£)
Apr-17(£)
Monthly change
Annual change
1
KENSINGTON AND CHELSEA
£1.83m
£1.95m
£1.99m
2.1 per cent
8.8 per cent
2
CITY OF WESTMINSTER
£1.62m
£1.75m
£1.77m
1.1 per cent
9.7 per cent
3
CAMDEN
£1.03m
£1,03m
£1.07m
3.5 per cent
3.5 per cent
4
CITY OF LONDON
£978,300
£911,046
£998,709
9.6 per cent
2.1 per cent
5
HAMMERSMITH AND FULHAM
£924,728
£870,635
£850,121
-2.4 per cent
-8.1 per cent
6
RICHMOND UPON THAMES
£787,671
£759,416
£768,301
1.2 per cent
-2.5 per cent
7
WANDSWORTH
£779,290
£776,782
£765,262
-1.5 per cent
-1.8 per cent
8
ISLINGTON
£793,998
£726,011
£711,374
-2 per cent
-10.4 per cent
9
BARNET
£638,817
£649,619
£672,427
3.5 per cent
5.3 per cent
10
HARINGEY
£574,186
£647,189
£645,872
-0.2 per cent
12.5 per cent
11
MERTON
£628,355
£625,435
£641,754
2.6 per cent
2.1 per cent
12
SOUTHWARK
£646,663
£652,751
£623,206
-4.5 per cent
-3.6 per cent
13
LAMBETH
£593,444
£599,002
£598,081
-0.2 per cent
0.8 per cent
14
BRENT
£550,006
£569,111
£583,612
2.5 per cent
6.1 per cent
15
HACKNEY
£592,321
£577,075
£571,739
-0.9 per cent
-3.5 per cent
16
EALING
£527,086
£562,858
£558,959
-0.7 per cent
6 per cent
17
KINGSTON UPON THAMES
£565,193
£536,596
£538,036
0.3 per cent
-4.8 per cent
18
HOUNSLOW
£507,108
£527,306
£535,569
1.6 per cent
5.6 per cent
19
HARROW
£495,212
£539,875
£528,555
-2.1 per cent
6.7 per cent
20
TOWER HAMLETS
£485,493
£541,603
£521,627
-3.7 per cent
7.4 per cent
21
BROMLEY
£469,537
£486,981
£493,660
1.4 per cent
5.1 per cent
22
ENFIELD
£444,711
£469,098
£472,220
0.7 per cent
6.2 per cent
23
HILLINGDON
£450,907
£462,411
£462,014
-0.1 per cent
2.5 per cent
24
WALTHAM FOREST
£434,126
£455,296
£452,757
-0.6 per cent
4.3 per cent
25
LEWISHAM
£447,725
£451,719
£451,838
0.0 per cent
0.9 per cent
26
REDBRIDGE
£420,450
£445,638
£449,066
0.8 per cent
6.8 per cent
27
GREENWICH
£439,019
£431,684
£420,661
-2.6 per cent
-4.2 per cent
28
SUTTON
£398,310
£399,118
£404,936
1.5 per cent
1.7 per cent
29
CROYDON
£377,330
£397,070
£393,490
-0.9 per cent
4.3 per cent
30
HAVERING
£352,493
£375,895
£377,291
0.4 per cent
7 per cent
31
NEWHAM
£361,310
£373,505
£365,573
-2.1 per cent
1.2 per cent
32
BEXLEY
£338,756
£353,308
£352,643
-0.2 per cent
4.1 per cent
33
BARKING AND DAGENHAM
£289,577
£297,827
£298,224
0.1 per cent
3 per cent
ALL LONDON
599,661
614,971
615,838
0.1 per cent
2.7 per cent