Published: 30/05/2018According to The CEO of The Guild of Property Professionals:
“The London property market is as solid as a rock. High quality housing stock, good levels of new supply, a broad and secure employment base and a diverse demand profile are the pillars on
which it rests. For that reason, I am very confident that levels of capital inflation will continue to rise in the long run, and transaction levels will go from strength to strength.”
Iain McKenzie, Chief Executive
The latest data from the Land Registry House Price Index shows us the anatomy of the region’s constituent housing markets. In the table below we set out the performance of each district. There is no single measure which provides a complete picture of buoyancy within a market, but for the sake of simplicity, we show the top 20 markets by the total value of all property transactions in the last year. This is calculated by multiplying the average value of homes by the number of sales. This gives a crude indication of how large the market is from an agent’s perspective but doesn’t account for the level of competition or speciality markets.
On this basis, the district with the most extensive market is Wandsworth which saw £3.5bn worth of transactions in 2017. This was followed by Westminster with £3.3bn worth. The district with the highest overall average house price was Kensington and Chelsea where prices sit at £1,203,000, which is 393.1% above the national average. The market with the highest number of transactions was Croydon with 5,636 sales occurring during the period.
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