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LONDON PROPERTY PRICES BOOMING BY BOROUGH

Booming London Property Prices By Borough

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London was never a particularly cheap place to live – in fact, Rightmove’s figures suggest that the average asking price of a property in London has risen by £80,000 since the start of 2014. As a result, prices are now at an all-time high, and only look set to rise in future. However, as is to be expected, some boroughs are significantly more expensive than others, with some enjoying a meteoric rise in prices following different developments, ranging from infrastructure and transport links to foreign investment. To chart these changes, Delivery Quote Compare have collated data from the Land Registry, the London Development Database and the Department for Communities and Local Government to create this informative infographic: Booming London Property Prices by Borough. London Property Prices by Borough Click Image To View Full Infographic The property gap has continued to widen over the last twenty years and the trend suggests that prices will only continue to skyrocket. According to Rightmove, 10 out of London’s 32 boroughs have experienced asking price rises of over 20%, with a 43% increase in Tower Hamlets alone. The streets of London may be paved with gold, and it looks to be glittering brighter than ever before. But if you’re looking to make your fortune in property, you’d better get in there quickly. Some areas have experienced larger increases than others when it comes to property prices, but even supposed “cheaper” locales, like Newham, have surged by 258% – what would have cost around £65,000 in 1995 is now much closer to £240,000. Buying your first family home in the capital for less than £100,000 is unheard of nowadays – and it doesn’t take a genius to guess how the more upmarket boroughs have been affected. The most expensive areas, such as Kensington and Chelsea, were already reassuringly costly in the mid-1990s, with a typical property setting a London dweller around £189,000. However, with a massive leap of 526% in price growth, any self-respecting would-be homeowner would now be looking at just over a cool million. Which is expensive – but great for a potential investor, if they can afford it! What about the ordinary Londoner looking to buy? Is it still doable in this day and age, or will getting on that first rung of the London property ladder forever be a pipe dream? It’s definitely possible, as the data shows – but it’s by no means easy. If you don’t want to live in a tiny box studio flat in Knightsbridge, there are a few options: East London would probably be your best starting point, with the cheapest areas being Barking and Dagenham, Newham, and Havering, which will set you back between £231,000 and £271,000 respectively. Yes, you read correctly – £200,000+ is now considered the bottom end of the market.

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Page 1: Booming London Property Prices By Borough

LONDON PROPERTY PRICESBOOMINGBY BOROUGH

Page 2: Booming London Property Prices By Borough

BOOMINGBY BOROUGH

228

300

217

387

257

499

505

232

323

238

286

596

484

423269212

240

283

489

526

306

495

335

340

258

276

363

426

239

341

357

477

Harrow

Barnet

Enfield

Haringey Waltham Forest Redbridge Havering

Barking &Dagenham

Newham

Hackney

Tower Hamlets

Islington

Camden

City ofWestminster

Kensington& Chelsea

Hammersmith& Fulham

Brent

Hillingdon

Ealing

Hounslow

Richmondupon

Thames Wandsworth

Lambeth

Southwark

Lewisham

GreenwichBexley

Bromley

CroydonSutton

Kingston upon

Thames

Merton

258

Less than £250k£251k - £300k£301k - £350k£351k - £400k£401k - £450k£451k - £500k£501k - £550k£551k +

Percentage increasein average price

since January 1995

Current average property price:

228

300

217

387

257

499

505

232

323

238

286

596

484

423269212

240

283

489

526

306

495

335

340

258

276

363

426

239

341

357

477

Harrow

Barnet

Enfield

Haringey Waltham Forest Redbridge Havering

Barking &Dagenham

Newham

Hackney

Tower Hamlets

Islington

Camden

City ofWestminster

Kensington& Chelsea

Hammersmith& Fulham

Brent

Hillingdon

Ealing

Hounslow

Richmondupon

Thames Wandsworth

Lambeth

Southwark

Lewisham

GreenwichBexley

Bromley

CroydonSutton

Kingston upon

Thames

Merton

258

Less than £250k£251k - £300k£301k - £350k£351k - £400k£401k - £450k£451k - £500k£501k - £550k£551k +

Percentage increasein average price

since January 1995

Current average property price:

Page 3: Booming London Property Prices By Borough

201320122011201020092008200720062005200420032002200120001999199819971996

THE PROPERTY GAP:Difference between highest and lowest average prices across London

The lowest average property price was £65k in Newham in 1995, still one of the most inexpensive places to live - although today you can expect to pay around £240k.

Kensington & Chelsea saw the highest average price in 2014 at £1,301k. This area was still relatively expensive in 1995, with prices around £189k.

Page 4: Booming London Property Prices By Borough

WANDSWORTH 477%

£88k £507k1995 avg. 2014 avg. New residential builds started

2,994

14.4Affordability

Affordability is calculated as the median property price divided by the median earnings in a given area. For example,

Kensington & Chelsea is the least affordable borough with property prices averaging 32 times that of average earnings!

New residential builds indicate projects that have begun construction.

Page 5: Booming London Property Prices By Borough

WESTMINSTER 505%

£149k £900k1995 avg. 2014 avg. New residential builds started

2,577

20.4Affordability

Page 6: Booming London Property Prices By Borough

SOUTHWARK 426%

£89k £468k1995 avg. 2014 avg. New residential builds started

1,874

9.7Affordability

Page 7: Booming London Property Prices By Borough

HILLINGDON 240%

£85k £290k1995 avg. 2014 avg. New residential builds started

1,583

7.6Affordability

Page 8: Booming London Property Prices By Borough

NEWHAM 258%

£65k £233k1995 avg. 2014 avg. New residential builds started

1,501

7.7Affordability

Page 9: Booming London Property Prices By Borough

HAMMERSMITH& FULHAM 484%

£118k £688k1995 avg. 2014 avg. New residential builds started

1,293

16.3Affordability

Page 10: Booming London Property Prices By Borough

LAMBETH 495%

£75k £449k1995 avg. 2014 avg. New residential builds started

1,189

9.8Affordability

Page 11: Booming London Property Prices By Borough

GREENWICH 286%

£75k £290k1995 avg. 2014 avg. New residential builds started

1,147

8.3Affordability

Page 12: Booming London Property Prices By Borough

BARNET 300%

£100k £401k1995 avg. 2014 avg. New residential builds started

1,121

10.9Affordability

Page 13: Booming London Property Prices By Borough

BRENT 387%

£73k £357k1995 avg. 2014 avg. New residential builds started

957

11.6Affordability

Page 14: Booming London Property Prices By Borough

LEWISHAM 335%

£74k £322k1995 avg. 2014 avg. New residential builds started

911

8.0Affordability

Page 15: Booming London Property Prices By Borough

HACKNEY 596%

£76k £526k1995 avg. 2014 avg. New residential builds started

768

11.3Affordability

Page 16: Booming London Property Prices By Borough

CROYDON 232%

£82k £273k1995 avg. 2014 avg. New residential builds started

627

7.6Affordability

Page 17: Booming London Property Prices By Borough

ISLINGTON 489%

£101k £595k1995 avg. 2014 avg. New residential builds started

596

12.3Affordability

Page 18: Booming London Property Prices By Borough

TOWER HAMLETS 341%

£93k £412k1995 avg. 2014 avg. New residential builds started

588

6.7Affordability

Page 19: Booming London Property Prices By Borough

HAVERING 212%

£87k £271k1995 avg. 2014 avg. New residential builds started

526

7.4Affordability

Page 20: Booming London Property Prices By Borough

CAMDEN 499%

£120k £721k1995 avg. 2014 avg. New residential builds started

478

15.3Affordability

Page 21: Booming London Property Prices By Borough

KENSINGTON& CHELSEA 526%

£189k £1,181k1995 avg. 2014 avg. New residential builds started

451

32.4Affordability

Page 22: Booming London Property Prices By Borough

SUTTON 239%

£81k £273k1995 avg. 2014 avg. New residential builds started

381

8.6Affordability

Page 23: Booming London Property Prices By Borough

EALING 323%

£87k £370k1995 avg. 2014 avg. New residential builds started

362

11.1Affordability

Page 24: Booming London Property Prices By Borough

HOUNSLOW 283%

£82k £315k1995 avg. 2014 avg. New residential builds started

322

9.5Affordability

Page 25: Booming London Property Prices By Borough

REDBRIDGE 276%

£85k £320k1995 avg. 2014 avg. New residential builds started

322

8.8Affordability

Page 26: Booming London Property Prices By Borough

BROMLEY 257%

£91k £324k1995 avg. 2014 avg. New residential builds started

311

10.0Affordability

Page 27: Booming London Property Prices By Borough

KINGSTON UPONTHAMES 306%

£89k £362k1995 avg. 2014 avg. New residential builds started

266

11.9Affordability

Page 28: Booming London Property Prices By Borough

BEXLEY 217%

£79k £249k1995 avg. 2014 avg. New residential builds started

246

8.0Affordability

Page 29: Booming London Property Prices By Borough

HARROW 269%

£89k £329k1995 avg. 2014 avg. New residential builds started

193

12.0Affordability

Page 30: Booming London Property Prices By Borough

HARINGEY 423%

£82k £428k1995 avg. 2014 avg. New residential builds started

188

10.5Affordability

Page 31: Booming London Property Prices By Borough

ENFIELD 238%

£82k £275k1995 avg. 2014 avg. New residential builds started

185

9.4Affordability

Page 32: Booming London Property Prices By Borough

8.7Affordability357%

£67k £306k1995 avg. 2014 avg. New residential builds started

155

WALTHAM FOREST

Page 33: Booming London Property Prices By Borough

BARKING &DAGENHAM 228%

£70k £231k1995 avg. 2014 avg. New residential builds started

96

5.1Affordability

Page 34: Booming London Property Prices By Borough

RICHMOND UPONTHAMES 363%

£116k £537k1995 avg. 2014 avg. New residential builds started

81

15.0Affordability

Page 35: Booming London Property Prices By Borough

MERTON 340%

£91k £400k1995 avg. 2014 avg. New residential builds started

53

11.3Affordability

Page 36: Booming London Property Prices By Borough

Data taken from the Land Registry, the London Developmet Database, and the Department for Communities and Local Government.The affordability metric is calculated as the median of property sales (Land Registry) divided by the median of earn-ings (The Annual Survey of Hours and Earnings.)

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