Everyone is talking about the ONS stats out today showing that London house prices rose 18.7 per cent in the year to April, against the backdrop of a 9.9 per cent rise nationally.
Housing market analyst Neal Hudson made this great scatter graph showing how prices in individual London boroughs are increasing currently and how much they have increased since their peak in 2007/08.
Apologies, the last chart was a bit too quick as I missed off a few boroughs Here's a version with them all on. pic.twitter.com/7gEkILyj97— Neal Hudson (@resi_analyst) June 17, 2014
We thought it would be interesting to throw a quick map together showing the geographical view of these stats. The data comes from the land registry and is based on median prices.
Percentage increase in house prices per year 2007 - 2013.
2007 = 100 per cent
As you would expect, central London is seeing the biggest growth in prices, with the boroughs of Westminster and Kensington and Chelsea both seeing prices at over 150 per cent of 2007 levels.
At the other end of the scale is Barking and Dagenham, the only borough yet to have recovered. There median prices are still £5,000 lower than they were in 2007. The borough also has the lowest median price at £180,000, far below Kensington and Chelsea where the median is £980,000.
What is also interesting is to see how prices recovered in different boroughs. Central London prices were not reduced by as much and recovered far quicker than boroughs on the periphery and especially some areas of east London.