Wednesday , January 24 2018

Waltham Forest tops London house price gains; beats Kensington

A row of residential properties stand in front of Battersea Power Station re-development in, London, U.K., on Monday, April 3, 2017. U.K. house prices fell for the first time in almost two years in March, according to the latest report fromNationwide Building Society. Photographer: Jason Alden/Bloomberg

Bloomberg

Move over Kensington and Chelsea. The area of London that’s seen the biggest jump in property values over the past five years has been Waltham Forest. According to mortgage lender Halifax, prices in the capital’s northeast borough have jumped 93 percent since 2012 when the city hosted the Olympic Games nearby.
That outstrips the 57 percent gain across Greater London, where over the last two decades, values have more than quintupled.
Since 1997, Hackney, in the east of capital, has seen the biggest boost with prices surging 753 percent. The area, famed for its hipster residents and located near the heart of the city’s budding technology industry, has seen values rise from 814 pounds ($1,065) per square meter to 6,942 pounds.
While property owners outside of London may be feeling a little left behind, all regions of the UK have gained at least 12 percent in the past five years and on average are up 34 percent. There are also growing signs that the capital may have flatlined after values fell 0.5 percent in May from April, according to the LSL Acadata Home Price Index.
Even though it can’t compete with some of its London peers for price growth, the borough of Kensington and Chelsea remain Britain’s most expensive area with an average price of 11,192 pounds per square metre.

About Admin

Check Also

epa05675609 People walk in front of London's financial district Canary Wharf in London, Britain, 14 December 2016. Tens of thousands of banking jobs could be lost to continental Europe from next year if ministers do not agree a transitional deal on single market access with the EU, a Lords report on financial services after Brexit is expected to warn.  EPA/HANNAH MCKAY

HNA weighs sale of two office buildings in London’s Canary Wharf

Bloomberg HNA Group Co. has approached brokers about the possible sale of two office buildings ...

Leave a Reply

Your email address will not be published. Required fields are marked *