London house prices: Haringey enjoys biggest annual house price gains while Islington named the biggest faller

 
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House Prices Are Stagnant In London
Prime property in central London has registered strong growth (Source: Getty)

Sales of London homes to the end of April were 29 per cent lower than the same period last year, according to Your Move’s latest England and Wales house price index.

House prices in the capital continued to rise, up 2.7 per cent in the year to April 2017, but this is the second lowest annual rise seen in London since March 2012. The average house price in London at the end of April stood at £615,838, up 0.1 per cent on the month before.

Haringey was named the best performing borough, with house prices up 12.5 per cent annually thanks to an increase in prices of flats. In contrast, Islington was the worst performer with house prices down 10.4 per cent following a surge in sales of terraced houses ahead of the three per cent stamp duty surcharge on second homes introduced last year.

The index also found that prime property in the capital registered strong growth on an annual basis.

Kensington and Chelsea, where average prices stand at £1.9m, enjoyed annual growth of 8.8 per cent while house prices in the the City of Westminster rose by 9.7 per cent. Meanwhile, the City of London saw the biggest monthly increase up 9.6 per cent to £998,709.

Read more: What the General Election results mean for house prices

Meanwhile, average house prices in England and Wales during May reached new peak of £303,200 despite "General Election uncertainty", Your Move said.

Transactions in the north east (up 10 per cent), North West (six per cent), Yorkshire and Humberside (seven per cent), East Midlands (four per cent), West Midlands (six per cent) and Wales (13 per cent) are all higher in the three months to the end of April 2017 than the same period in 2015.

Read more: These are the best places to buy a property in the UK

Meanwhile, transactions in greater London and the south east are down by 19 per cent and seven per cent respectively.

Oliver Blake, managing director of Your Move and Reeds Rains estate agents, said: “There was a lot of talk about housing from the parties in their election manifestos, it’s now time for those words to be put into action.

“The market remains resilient and there’s encouraging activity in the north, but we need to urgently address the serious blockages in house building holding back labour mobility and economic competitiveness in too many areas of the country.”

RANK LONDON BOROUGH Apr-16 (£)

Mar-17 (£)

Apr-17(£) Monthly change Annual change
1

KENSINGTON AND CHELSEA

£1.83m £1.95m £1.99m 2.1 per cent 8.8 per cent
2

CITY OF WESTMINSTER

£1.62m £1.75m £1.77m 1.1 per cent 9.7 per cent
3

CAMDEN

£1.03m £1,03m £1.07m 3.5 per cent 3.5 per cent
4 CITY OF LONDON £978,300 £911,046 £998,709 9.6 per cent

2.1 per cent

5

HAMMERSMITH AND FULHAM

£924,728 £870,635 £850,121 -2.4 per cent -8.1 per cent
6

RICHMOND UPON THAMES

£787,671 £759,416 £768,301 1.2 per cent -2.5 per cent
7

WANDSWORTH

£779,290 £776,782 £765,262 -1.5 per cent -1.8 per cent
8

ISLINGTON​

£793,998 £726,011 £711,374 -2 per cent -10.4 per cent
9

BARNET​

£638,817 £649,619 £672,427 3.5 per cent 5.3 per cent
10

HARINGEY​

£574,186 £647,189 £645,872 -0.2 per cent 12.5 per cent
11

MERTON​

£628,355 £625,435 £641,754 2.6 per cent 2.1 per cent
12

SOUTHWARK​

£646,663 £652,751 £623,206 -4.5 per cent -3.6 per cent
13

LAMBETH​

£593,444 £599,002 £598,081 -0.2 per cent 0.8 per cent
14

BRENT

£550,006 £569,111 £583,612 2.5 per cent 6.1 per cent
15

HACKNEY

£592,321 £577,075 £571,739 -0.9 per cent -3.5 per cent
16

EALING​

£527,086 £562,858 £558,959 -0.7 per cent 6 per cent
17

KINGSTON UPON THAMES

£565,193 £536,596 £538,036 0.3 per cent -4.8 per cent
18

HOUNSLOW​

£507,108 £527,306 £535,569 1.6 per cent 5.6 per cent
19

HARROW

£495,212 £539,875 £528,555 -2.1 per cent 6.7 per cent
20

TOWER HAMLETS

£485,493 £541,603 £521,627 -3.7 per cent 7.4 per cent
21

BROMLEY​

£469,537 £486,981 £493,660 1.4 per cent 5.1 per cent
22

ENFIELD​

£444,711 £469,098 £472,220 0.7 per cent 6.2 per cent
23

HILLINGDON​

£450,907 £462,411 £462,014 -0.1 per cent 2.5 per cent
24

WALTHAM FOREST

£434,126 £455,296 £452,757 -0.6 per cent 4.3 per cent
25

LEWISHAM​

£447,725 £451,719 £451,838 0.0 per cent 0.9 per cent
26

REDBRIDGE​

£420,450 £445,638 £449,066 0.8 per cent 6.8 per cent
27

GREENWICH

£439,019 £431,684 £420,661 -2.6 per cent -4.2 per cent
28

SUTTON

£398,310 £399,118 £404,936 1.5 per cent 1.7 per cent
29

CROYDON​

£377,330 £397,070 £393,490 -0.9 per cent 4.3 per cent
30

HAVERING​

£352,493 £375,895 £377,291 0.4 per cent 7 per cent
31

NEWHAM​

£361,310 £373,505 £365,573 -2.1 per cent 1.2 per cent
32

BEXLEY​

£338,756 £353,308 £352,643 -0.2 per cent 4.1 per cent
33

BARKING AND DAGENHAM​

£289,577 £297,827 £298,224 0.1 per cent 3 per cent

ALL LONDON

599,661 614,971 615,838 0.1 per cent 2.7 per cent

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