Prime central London house prices have taken the biggest hit since the last general election, as previously less desirable areas gain popularity.
London constituencies further away from the centre were the biggest winners between June 2017 and now as buyers sought cheaper properties.
Read more: UK house price growth slows in October
House prices made the biggest jump in Brent North, with an increase of 19.5 per cent to £460,000 in the last two years.
Carshalton and Wallington in south London saw an increase of 10.8 per cent, followed by Brentford and Isleworth with 10.3 per cent house price growth.
Croydon Central and West Ham made up the rest of the top five, with increases of 9.4 per cent and nine per cent respectively.
Meanwhile, house prices in the Cities of London and Westminster plummeted 10.8 per cent, from £1.25m to £1.11m.
Hornsey and Wood Green house prices dropped 8.5 per cent, according to an analysis of government data by London new home specialists Stone Real Estate’.
It was also bad news for property owners in south-west London as house prices in Richmond Park, Putney and Battersea plunged 6.3 per cent, 6.1 per cent and 4.8 per cent respectively.
Stone Real Estate Michael Stone said: “Popular areas for high-end homebuyers have enjoyed accelerated price growth in the wake of the financial crisis, but have now come off the boil in colder market conditions due to the higher price tag, hesitant buyers, and a refusal by many sellers to adjust their price expectations.
In contrast, many of the more affordable, peripheral or less desirable areas of London have been gradually gaining momentum and have enjoyed slow but consistent price growth as a result.
“This is largely due to a lower price point but also due to the fact they are being sold to bread and butter buyers with an aspiration of homeownership, not a profitable high-end London investment, who remain undeterred by market uncertainty and have helped maintain a consistent level of market activity.”
The latest figures from the ONS showed that London house prices booked a 1.4 per cent annual drop in August, as house prices across the UK grew at a slower pace than last year.
Meanwhile, data from Halfax published this morning revealed that annual UK house price growth slowed to 0.8 per cent last month, its weakest rate of 2019, due to the uncertainty triggered by a general election and ongoing Brexit negotiations.
How London house prices have changed since the 2017 general election
|Constituency||Average house price at last election||Latest available average house price||Percentage change|
|Carshalton and Wallington||£343,000||£380,000||10.8%|
|Brentford and Isleworth||£445,000||£491,025||10.3%|
|Greenwich and Woolwich||£450,000||£490,000||8.9%|
|Hayes and Harlington||£350,000||£378,000||8.0%|
|Erith and Thamesmead||£297,500||£320,500||7.7%|
|Feltham and Heston||£325,000||£350,000||7.7%|
|Bermondsey and Old Southwark||£558,750||£600,000||7.4%|
|Camberwell and Peckham||£465,000||£494,995||6.5%|
|Bexleyheath and Crayford||£328,500||£347,000||5.6%|
|Leyton and Wanstead||£441,500||£465,000||5.3%|
|Sutton and Cheam||£372,500||£392,000||5.2%|
|Kingston and Surbiton||£438,975||£460,000||4.8%|
|Holborn and St Pancras||£695,000||£722,000||3.9%|
|Hackney North and Stoke Newington||£535,000||£555,250||3.8%|
|Hackney South and Shoreditch||£531,000||£550,000||3.6%|
|Hampstead and Kilburn||£730,944||£755,000||3.3%|
|Lewisham West and Penge||£406,750||£420,069||3.3%|
|Old Bexley and Sidcup||£370,000||£380,000||2.7%|
|Dagenham and Rainham||£319,000||£327,000||2.5%|
|Bromley and Chislehurst||£413,250||£422,250||2.2%|
|Hornchurch and Upminster||£377,000||£385,000||2.1%|
|Chingford and Woodford Green||£435,000||£443,000||1.8%|
|Poplar and Limehouse||£465,000||£472,000||1.5%|
|Dulwich and West Norwood||£520,000||£525,000||1.0%|
|Bethnal Green and Bow||£520,000||£520,000||0.0%|
|Mitcham and Morden||£385,000||£385,000||0.0%|
|Ruislip, Northwood and Pinner||£570,000||£570,000||0.0%|
|Ealing Central and Acton||£575,000||£572,500||-0.4%|
|Chelsea and Fulham||£964,975||£950,000||-1.6%|
|Islington South and Finsbury||£690,000||£679,200||-1.6%|
|Uxbridge and South Ruislip||£420,000||£412,500||-1.8%|
|Finchley and Golders Green||£572,000||£545,000||-4.7%|
|Hornsey and Wood Green||£590,000||£540,000||-8.5%|
|Cities of London and Westminster||£1,250,000||£1,115,000||-10.8%|