Email: vasb@rqraunecre.pbz

London property values up 13.5%

Posted on by within Property News

Property prices rose by more than 14% in both Battersea and Brixton in the 12 months to February, according to the latest official data.

London property values up 13.5%Property values climbed 14.4% in Battersea and 14.2% in Brixton, taking the average value of a home in both areas to £757,555 and £507,818 respectively.

This compares with a value rise of 13.5% in London as a whole, where the Land Registry reports the average price of a home in February was £530,368.

This has been put down to a growth in house prices in outer London, where values rose 17.1% in Hillingdon, 16.9% in Havering and 16.3% in Lewisham.

Meanwhile, sold prices in England and Wales rose by 6.1% annually taking the average price to £190,275.
On a monthly basis, house prices in England and Wales were down 0.2%, according to the Land Registry's February 2016 House Price Index.

The only other region where property values achieved double-digit rises was south-east England. In the year to February sold prices went up 10.9% to take the average value of a home in this part of the country to £267,235.

The east of England was not far behind, with price rises of 9.8% over the year and an average property price of £220,188.

There are now more property millionaires, with a 2% rise in the number of homes in England and Wales selling for more than £1m. The number is up from 1052 in February 2015 to 1077 a year later.

The Land Registry data, which is based on completed transactions, also reveals that the number of repossessions fell by 50%, from 706 to 356, in the year to December 2015. In London, there was a drop of 67% in the number of repossession sales.

For more information on property values in England and Wales, click on the link below:

Money Observer

Your privacy and our use of cookies

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies from this website.