Yahoo Finance London areas where property prices rising and falling fastest
Property prices in London have long been far higher than the rest of the UK, but they have taken a battering in recent years from higher stamp duty, Brexit uncertainty and other headwinds.
The latest Zoopla and Hometrack data released this week shows prices in the UK capital have dipped 0.5% over the past year, while prices nationally have grown 1.7%.
Owners are offering increasingly large discounts so they can sell up, with the average sale price now 5.7% lower than the asking price—compared to a 1% gap in 2016.
But the overall figures conceal a far more varied picture in and around the capital, with prices still creeping up in some boroughs and commuter towns and sinking in others.
Hometrack’s London league table shows Broxbourne, a popular commuter district just north of London, saw the greatest increase in property prices over the year.
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The Hertfordshire district, which is not a London borough but part of Greater London, include Broxbourne, Cheshunt, Hoddesdon and Waltham Cross, and now has average property prices of £367,300 in its towns.
Second on the list is Dartford, a borough in Kent 18 miles southeast of central London, where prices have edged up 1.3% to £311,700.
Spelthorne, another popular commuter district just south of Heathrow airport which includes Ashford and Staines-upon-Thames, was third with a 0.9% rise.
Other areas seeing modest rises despite the London-wide slowdown are Havering, Newhan, Runnymede, Barking and Dagenham and Bexley.
But only eight areas on the Hometrack list recorded gains, with prices flat in another two district and heading south in the rest.
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At the other end of the table, the City of London, which governs London’s financial district in the Square Mile, saw prices tanking fastest.
The average City residential property still changed hands for an eye-watering £826,700, but that marked a 3.4% dip on the previous year’s figure.
Haringey, Hackney, Camden and Woking were the next areas with the biggest falls.
Epsom and Ewell, the City of Westminster and Islington also recorded drops of more than 2%.
Areas in and around London with the biggest growth in property prices from 2018 to 2019
Broxbourne, £367,000 - up 1.5%
Dartford, £312,000 - up 1.3%
Spelthorne, £404,000 - up 0.9%
Havering, £373,000 - up 0.8%
Newham, £376,00 - up 0.6%
Runnymede, £446,000 - up 0.5%
Barking and Dagenham, £295,000 - up 0.3%
Bexley, £347,000 - up 0.2%
Areas in and around London with the biggest decline in property prices from 2018 to 2019
City of London, £827,000 - down 3.4%
Haringey, £515,000 - down 2.8%
Hackney, £525,000 - down 2.6%
Camden, £746,000 - down 2.5%
Woking, £435,000 - down 2.3%
Epsom and Ewell, £499,000 - down 2.3%
Westminster, £954,000 - down 2.2%
Islington, £619,000 - down 2%
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