Each month we take a look at how the London property market is performing. We see how the different boroughs are growing and how they have changed in nature since the market height of 2007/2008.
To find our what's happening in a particular London borough, take a look at the full London analysis:-
Download the full report for all London Boroughs
London boroughs potentially overheating
Waltham Forest and Lambeth
At the moment, Waltham Forest and Lambeth are experiencing staggering year on year growth at around 29% and 28% respectively. This means consumers wanting to purchase in these areas should approach with a note of caution as the level of growth points at an overheating market and potential buyers need to be careful not to overpay.
Lewisham and Southwark
The annual average growth in Lewisham and Southwark is 25% and 23% respectively. This also indicates that they may be overheating.
Hackney, Wandsworth, Islington and Newham
These boroughs are all performing very well, with year on year growth between 20% and 23%.
Thinking of buying in London? 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 have more than recovered from their 2007/8 heights and are, in fact, experiencing major growth:-
Are there any affordable areas left in London?
Like many areas around the nation, there are places in the capital that haven't benefitted from double digit growth. They have either not yet recovered to the 2007/08 height and are still less than they were SIX years ago or have only just recently exceeded this level. The areas are:-
Barking and Dagenham - up +17% year on year, but prices remain -1% below 2007/8 height
Newham - up +20% year on year, but prices only +5% up on 2007/8 level
Bexley - up +13% year on year, with prices just +4% above 2007/08 height of the market
Havering - up +13% year on year, with prices only +4% above the market high
Redbridge - up +11% year on year, but prices are only +5% up on 2007/08 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:-
Download the full London Borough analysis
For FREE, independent and up to date advice on Buying, Selling or Renting a Property, sign up for FREE to Property Checklists. Join now to access our FREE property checklists, including:-