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Which London boroughs have topped the house price growth charts this year?

By Olga Scott

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Which areas in London are amongst this year’s best performing boroughs in terms of price growth? Based on Land Registry data* analysis, we’ve looked at some of the top performing areas that Foxtons operates in, to see what might have contributed to their success.

Southwark average property prices 2016

Southwark

With a price increase of 13% to date in 2016, bringing the average property price in the area to just under £730,000, Southwark is first to go under the spotlight.

Clodagh Blain, Sales Manager of our Vauxhall office, tells us what could have contributed to the area’s success:

“Nestled in the heart of Zone 1, Southwark is surrounded by significant regeneration projects and investment on all sides. To the west lies Vauxhall’s Nine Elms riverside regeneration and the much-talked about Elephant & Castle redesign, while to the south an extension to the Bakerloo line is planned with a new tube station on Old Kent Road. London Bridge on the eastern side is an almost unrecognisable version of itself ten years ago, due in part to the ever growing popularity of Borough Market,” says Clodagh.

The borough is demonstrating consistency in its growth by achieving an impressive 13% rise in prices for the second year running. Flats and terraced houses led the price rises in the area, both showing an increase of over 10% in 2016, closely followed by semi-detached houses with an increase of just below 9%.

Wandsworth average property prices 2016

Wandsworth

Wandsworth follows Southwark’s growth closely, showing a 12% increase in prices. This brings the average property price to just over £785,000.

“Wandsworth benefits from one of the lowest Council Tax rates in the country, despite being located in close proximity to central London,” comments David Law, Battersea office Sales Manager. “The area appeals to a diverse demographic of buyers, from families enjoying the friendly atmosphere of Balham and Northcote Road to first time buyers keen to stay close to the buzz and transport links of Clapham Junction. The ongoing redevelopment of Nine Elms, considered to be one of the largest-scale projects in and around London, and plans for infrastructure improvement, add further potential to the area’s growth.”

Detached houses in the borough show the most significant growth in prices at 8% this year, followed by terraced houses at just below 6%.

Waltham Forest average property prices 2016

Waltham Forest

Waltham Forest is enjoying another productive year, achieving an 8% rise in prices, with the average property price reaching just over £425,000. What might have contributed to the borough’s success?

“Waltham Forest still offers relative affordability compared to other areas in zones 3 and 4. It is a very family-friendly borough, with the property portfolio mainly consisting of family houses, which also means that properties become available less frequently than in the boroughs with more apartment blocks. Great transport links in the area also increase Walthamstow’s popularity, as well as fantastic local schools – at present, every school in E17 is Ofsted rated as Good or Outstanding,” says Alastair Cochrane, Foxtons Walthamstow Sales Manager.

All property types in the area have seen impressive price growth, with detached homes leading with an increase of just under 16% and terraced houses and flats following with just under 13% and 12% increase respectively.

Harrow average property prices 2016

Harrow

Sharing Waltham Forest’s success this year, Harrow also demonstrates an 8% growth in prices, bringing its average to just over £500,000 and beating last year’s increase by 1%.

“Harrow has a well-balanced property portfolio attracting young professionals, families and buy-to-let investors alike. With a high concentration of schools rated Outstanding by Ofsted and being in the top five safest London boroughs, Harrow is also well-placed for getting out of town as it is sandwiched between the A40, A4 and A1. Harrow also has ‘Zone 2 transport links but Zone 5 property prices’, with travel times to central London of around 20 minutes. The borough is also about to undergo an impressive £2bn regeneration,” says Shaun Bailey, our Harrow office Operations Director.

Semi-detached houses in the borough show the most significant increase in prices at just over 10%, followed by terraced houses at just under 9%.

Ealing average property prices 2016

Ealing

With a price increase of 7%, beating last year’s growth by 3% and bringing the average property price to just over £600,000, Ealing is next on our list.

“A large leafy suburb of west London, Ealing offers fantastic green spaces, great schools and numerous shopping parades. The area also boasts some of the best transport links into London with three tube lines, National Rail services and the eagerly awaited Elizabeth Line. Unlike many other parts of West London, Ealing still offers affordable pockets in areas such as Hanwell and Greenford, where you can still buy a house for under the average price of a home in London,” shares Jas Dhaliwal, Sales Manager of our Ealing office.

Detached houses led the increase in prices by demonstrating a significant 24.5% rise.

Hackney average property prices 2016

Hackney

Following a successful year in 2015, Hackney shares Ealing’s accomplishment of achieving a 7% increase in prices this year, bringing its average price to nearly £660,000.

“With a significant investment in the area, Hackney continues to benefit from an array of exciting regeneration projects and improvements to its infrastructure,” says Edward Taylor, Foxtons Hackney Sales Manager. “The area’s location adds to its appeal as the proximity to the City and Canary Wharf is crucial for the buyers, as well as the diversity of the area, offering both a village-style feel of Victoria Park and the trendy buzz of Dalston.”

Detached houses in the borough show the most impressive growth in prices of almost 55%.

*Land Registry price paid data

Own a property in one of these areas and want to know its value? Book a free property valuation today.

For more information on market trends and more, visit our Discover page.

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