London house prices: The top boroughs where property prices have risen the most since 2009

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House prices in Kensington and Chelsea have risen by over 100 per cent since 2009 (Source: Getty)

The average house price in Kensington and Chelsea has soared by nearly 130 per cent since 2009, according to research by online estate agents HouseSimple.com

Less glamorous boroughs of Haringey and Waltham Forest have witnessed impressive price growth since March 2009, with price growth of 111.7 per cent and 106.4 per cent respectively.

Surprisingly, the trendy borough of Camden (74.9 per cent) was among the worst performing boroughs.

Nationally, UK homeowners have seen the value of their homes increase by more than 40 per cent and almost £60,000 over the past eight years.

Read more: Revealed: London areas where house prices have risen and fallen the most

Alex Gosling, CEO of online estate agents HouseSimple.com, said: “While UK savers have suffered over the past eight years, millions of homeowners have increased their equity in their homes substantially in this once-in-a-generation low interest rate environment. It’s been a golden period for UK homeowners, but there are signs that it could be coming to an end as the MPC narrowly voted to hold interest rates at 0.25 per cent.

“Many homeowners will have never seen an interest rate rise, and may believe rates will never rise. But they will eventually, and when they do, we could see rates rise by one to two per cent quite quickly. With many households already feeling the strain of higher day-to-day costs, monthly mortgage payments going up by several hundred pounds a month could tip them over the edge.”

London boroughs that have seen the biggest rises in average property prices since 2009:

London Borough

Average PropertyPrice – March 2009 (£)

Average PropertyPrice – April 2017 (£)

Percentage Increase/ (decrease) in property price

Kensington and Chelsea

598,430

1,369,708

128.9

Haringey

263,609

558,003

111.7

Waltham Forest

203,666

420,348

106.4

City of Westminster

502,387

1,033,617

105.7

Lambeth

255,001

521,198

104.4

 

London boroughs that have seen the small rises in average property prices since 2009

London Borough

Average Property Price – March 2009 (£)

Average PropertyPrice – April 2017 (£)

% Increase/ (decrease) in property price

Havering

207,166

358,251

72.9

Camden

465,563

814,188

74.9

Tower Hamlets

264,712

470,021

77.6

Bexley

187,076

334,191

78.6

Bromley

245,444

439,112

78.9