London borough house prices increased across the capital’s 33 boroughs, over the year to November 2021 with the exception of 5. Demonstrating there’s life in the old dog yet.
Unsurprisingly, due to the current zeitgeist for more space, detached houses were popular, increasing, on average 13.5% over the year. Apartments that were out of favour, rose only 5.1% but displayed signs that a comeback is imminent.
The borough of Camden, took pole position with a 17.9% increase in its average property price, from £815,49 to £961,39. Runner up, Islington came in just under, with a 15.3% increase, too £771,37 from £668,83. Further North, Enfield came in fourth with 9.8%. Moving eastward, Barking and Dagenham saw a 9.1% increase, putting them in fifth place.
South of the River, Richmond came 3rd with £758,96 and Kingston Upon Thames came joint fourth with Enfield, only with a higher price tag of £541,681. Surprisingly, Hackney limped in last place with a drop of -8.5%. However, given recent activity in the borough, expect a dramatic spurt of growth to be reported in a few months time.
The most affordable borough in London and the most expensive
Despite its increase, the most affordable borough in London to buy was Barking and Dagenham. Providing more bang for your buck with an average property price of £331,23. Kensington and Chelsea may have seen only a small percentage rise of 0.7% but the borough remains unchallenged as the ‘most expensive area to purchase a property’, with an average price of £1.3 million. No doubt, as restrictions lift and Omicron fears recede, overseas buyers will return, driving prices up once more in the borough.
| Top performing London Boroughs | Annual pc change in price from Nov 20-21 |
| Camden | +17.9% |
| Islington | +15.3% |
| Kingston Upon Thames | +9.9% |
| Richmond Upon Thames | +9.8% |
| Enfield | +9.8% |
| Barking and Dagenham | +9.1% |
| The worst performing London Boroughs | Annual pc change in price from Nov 20-21 |
| Hackney | – 8.5% |
| Tower Hamlets | – 1.8% |
| Hounslow | – 1.5% |
| Lambeth | – 1.0% |
| Wandsworth | – 0.5% |
The London Boroughs with the most property transactions
In 2021 sale volumes, overall, decreased by 23.4%. In London, sales dramatically reduced over the course of the year from September 2020 to 2021. Despite Wandsworth house prices dropping in the ratings, it still managed to remain in the top three boroughs for transactions along with Croydon and Bromley.
| London Borough Property Transactions | September 2021 | September 2020 |
| Wandsworth | 211 | 386 |
| Croydon | 212 | 332 |
| Barnet | 188 | 343 |
| Bexley | 180 | 232 |
| Lewisham | 165 | 274 |
| Bromley | 231 | 408 |
| Tower Hamlets | 117 | 257 |
In London, the average first time buyer price paid, remained just under the LISA threshold at £449,23. With only 11 of London borough’s average property prices coming under the £450,000 threshold; how much longer this will be possible, remains to be seen.
Till next month, you are updated on London Borough house prices.
All data is based on Land Registry information. For more details please click on link.
