Who tops property trend for price rises?

The study by the mortgage experts at money.co.uk analysed average house prices across the last 10 years in each borough in London to reveal the areas with the biggest 10-year house price growth.

Average house prices across London have increased over the last decade, but the borough that has experienced the biggest house price growth is Waltham Forest.

Here, prices increased by over 120 per cent, from £236,018 to £524,277.

Located in north-east London, Waltham Forest is on the fringes of London, with a green corridor of marshes and parkland and borders Epping Forest.

In South London, Bexley was fourth with an average price 10 years ago of £205,197.

Now it’s £404,141, a 96.95 per cent increase.

Lewisham was sixth with and average of £243,510, 10 years ago and now £476,708 – 95.77 per cent increase.

Croydon was eighth while Greenwich was 10th.

In second place is the borough of Barking and Dagenham, where house prices increased by just over double in the last decade, from £166,180 to £354,052 which was a 113.05 per cent increase over the past ten years.

Houses in this part of London are lower than in the rest of the capital, but rapidly on the up.

The borough is located in East London and has undergone significant property investment.

Another East London borough comes in third place, with property prices in Hackney going up by 101.03 per cent in the last decade – prices rose from £333,002 to £669,429.

Centred around Mare Street, Hackney is an inner borough and is perhaps the one that most people think of when it comes to London’s gentrification.

Further Study Insights:

The UK authority with the biggest ten-year house price growth is Thanet.

Average house prices here have increased from £146,322 in August 2012 to £332,070 in August 2022, causing a 126.95 per cent increase.

Blackpool is the best UK authority for landlords to invest in property, with an average property price of just £140,108.

Blackpool has a slightly higher average rent price than similarly affordable areas at £550 per month, meaning the rent is 0.393 per cent of the average house price.

 

Picture: Pixabay / H031175