Every London Borough now higher in price than the market height in 2007/08

publication date: Oct 2, 2014
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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How are the London Boroughs performing...

London's property market is unique in the UK and is, in-fact, more akin to Paris or New York when it comes to analysis than other UK cities. It's position as a global centre for trade and finance means we must take a seperate look at how the different areas of London are performing.

To find our what's happening in your London borough, take a look at our comprehensive breakdown:-

Download the full report for all London Boroughs

London boroughs potentially overheating:-

Lewisham and Lambeth
Right now, Lewisham and Lambeth are experiencing monumental year on year growth of 28% and 29% respectively. We've all heard the phrase 'Buyer Beware' and that applies in it's more ordinary meaning in boroughs such as these. This level of growth indicates a market which is potentially overheating and people looking to buy in Lewisham and Lambeth need to take care not to pay over the odds.

Waltham Forest and Southwark
The annual average growth that Waltham Forest and Southwark are both experiencing is around 26%. This would usually indicate that they may be overheating. However, in the case of Waltham Forest, the level of growth is down from 29% last month so this borough may just be cooling off.

Croydon, Merton and Richmond-upon-Thames
These boroughs are all performing fantastically and are experiencing year on year growth between 21% and 23%.

If you are thinking of taking the plunge into the London property market then do read my articles:-

Buying in an overheating market and First time buyers in London - what are your options?

Areas in London with the highest price rises since 2007/8
These areas which have more than recovered from their 2007/8 heights and are actually experiencing staggering growth:-

  • City of Westminster +56% versus height of the market
  • Kensington and Chelsea +64% 
  • Hammersmith and Fulham +57%

Download the full report for all London Boroughs

Are there any affordable areas left in London?
Having said that London is almost a separate market to the rest of the country, it must be said that there are still some areas which reflect similar trends to the nation as a whole. All the London boroughs are now above the 2007/08 market height but some only just and remain affordable for those who need to live and work in the capital:-

  • Barking and Dagenham - up +19.5% year on year, prices just +1% above 2007/8 height
  • Havering - up +13% year on year, with prices remaining +4% above the market high
  • Bexley - up 14% year on year, prices at +6% above their 2007/08 height
  • Newham - 21% up year on year, with prices also at just +6% above their market height

If you are struggling to find a property in your preferred London location it's always worth taking a look other areas close by, to check out the performance of all the boroughs click below:-

If you aren't having any luck finding a property in your favoured London area it's always a good idea to perouse other locations nearby, so do checkout our:-

Comprehensive London Borough Breakdown

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All our information is brought to you by Kate Faulkner, author of Which? Property books and one of the UK's top property experts.
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