Asking prices on homes in Hackney are rising faster than in any other borough in London. The January Rightmove House Price Index found Hackney asking prices had risen 15.5% over the year to an average of £732,573.
Bromley was in second place, where asking prices rose 11.6% annually during the month to an average value of £556,044.
Camden was the worst-performing borough, with the average asking price dropping by 16.4% to £1,118,218.
For Greater London as a whole, Rightmove said the average asking price rose 2.3% over the year in January to £624,953.
That compares to a 3.2% increase for England and Wales, which has an average asking price of £300,245.
Only around half the number of homes needed to meet demand in London, estimated to be 50,000 new units a year, are being built. The shortage of homes has fuelled house price growth in the capital in recent years, well ahead of the rest of the country.
But affordability concerns for first-time buyers and property tax hikes on buy-to-let and wealthy investors is constraining demand in the market. House price growth in London is forecast to slow and fall behind the rest of the country as a result.
How much asking prices are rising in each London borough
Borough
Avg price Jan 2017 (£)
Annual change
Hackney
732,573
15.50%
Bromley
556,044
11.60%
Kensington and Chelsea
2,485,483
10.20%
Islington
807,550
10.00%
Sutton
437,115
9.90%
Bexley
370,291
9.70%
Lambeth
662,177
8.90%
Enfield
486,236
8.70%
Havering
391,186
8.70%
Haringey
605,271
8.30%
Waltham Forest
475,186
8.20%
Newham
426,971
6.20%
Southwark
684,410
6.10%
Croydon
423,347
6.10%
Greenwich
464,144
5.20%
Lewisham
473,592
4.40%
Barnet
732,439
4.20%
Harrow
542,733
4.00%
Hillingdon
483,951
4.00%
Barking and Dagenham
298,255
3.80%
Merton
632,749
3.50%
Redbridge
446,581
3.30%
Tower Hamlets
600,774
2.80%
Ealing
604,736
-0.80%
Kingston upon Thames
621,638
-1.90%
City of Westminster
1,992,328
-2.50%
Hounslow
499,873
-2.90%
Wandsworth
775,702
-4.10%
Richmond upon Thames
864,137
-4.70%
Brent
573,189
-4.70%
Hammersmith and Fulham
948,671
-11.60%
Camden
1,118,218
-16.40%
Source: Rightmove House Price Index, January 2017
www.ibtimes.co.uk