LONDON house prices were 9.2 per cent higher in June than the same month last year, according to figures published by the Land Registry yesterday.
The capital outpaced the rest of England and Wales, where price growth averaged 5.4 per cent.
Rents are up to, with average rent in London climbing to £699 in the three months ending June, flat-share website EasyRoommate said yesterday. It marks a 13.3 per cent jump on the three months to March.
Andrew Bridges, managing director of estate agents Stirling Ackroyd said: “Headline figures might look like a rising tide lifting all ships but real buoyancy is tightly tied to the eastern fringes of the City. Price rises and new builds naturally gravitate towards commercial and cultural hubs. Prices in Newham have risen a staggering 16 per cent as the up-and-coming attitude of the East spills further out from entrepreneurial areas like Hackney and Shoreditch.”