House price growth across the UK has nearly halved over the past 11 months, and a lot of that sluggish growth is coming from the capital.
Tax changes have hit the property market in many of the capital's central districts, such as Chelsea and Fulham, but there is still growth in the more affordable parts of London. So which boroughs will win out in 2017?
City A.M. has compiled the following predictions for average house prices in every London borough based on Hometrack's growth projections for the market in 2017. The results are striking - house prices may fall in six London boroughs, and if house prices continue on a downwards trajectory in Kensington and Chelsea, the average house price in this area could fall by more than £75,000.
Here is what to expect:
Borough | January '17 | January '18 | Change (%) | Change (£) | |
---|---|---|---|---|---|
1 | City of Westminster | January '17£986,400 | January '18£1,017,965 | Change (%)3.20% | Change (£)£31,565 |
2 | Greenwich | January '17£379,400 | January '18£390,403 | Change (%)2.90% | Change (£)£11,003 |
3 | Havering | January '17£354,000 | January '18£361,434 | Change (%)2.10% | Change (£)£7,434 |
4 | Hillingdon | January '17£416,500 | January '18£424,830 | Change (%)2% | Change (£)£8,330 |
5 | Bexley | January '17£338,200 | January '18£344,964 | Change (%)2% | Change (£)£6,764 |
6 | Hackney | January '17£544,300 | January '18£554,642 | Change (%)1.90% | Change (£)£10,342 |
7 | Ealing | January '17£490,200 | January '18£499,024 | Change (%)1.80% | Change (£)£8,824 |
8 | Lambeth | January '17£546,900 | January '18£555,650 | Change (%)1.60% | Change (£)£8,750 |
9 | Redbridge | January '17£425,300 | January '18£432,105 | Change (%)1.60% | Change (£)£6,805 |
10 | Brent | January '17£502,600 | January '18£510,139 | Change (%)1.50% | Change (£)£7,539 |
11 | Enfield | January '17£405,300 | January '18£411,380 | Change (%)1.50% | Change (£)£6,080 |
12 | Hounslow | January '17£419,800 | January '18£425,257 | Change (%)1.30% | Change (£)£5,457 |
13 | Bromley | January '17£459,000 | January '18£464,049 | Change (%)1.10% | Change (£)£5,049 |
14 | Croydon | January '17£379,500 | January '18£383,295 | Change (%)1.00% | Change (£)£3,795 |
15 | Southwark | January '17£501,200 | January '18£505,711 | Change (%)0.90% | Change (£)£4,511 |
16 | Haringey | January '17£532,900 | January '18£536,630 | Change (%)0.70% | Change (£)£3,730 |
17 | Harrow | January '17£487,400 | January '18£490,812 | Change (%)0.70% | Change (£)£3,412 |
18 | Merton | January '17£520,000 | January '18£523,640 | Change (%)0.70% | Change (£)£3,640 |
19 | Wandsworth | January '17£648,200 | January '18£652,737 | Change (%)0.70% | Change (£)£4,537 |
20 | Camden | January '17£781,600 | January '18£786,290 | Change (%)0.60% | Change (£)£4,690 |
21 | Kingston upon Thames | January '17£522,600 | January '18£525,736 | Change (%)0.60% | Change (£)£3,136 |
22 | Tower Hamlets | January '17£477,300 | January '18£480,164 | Change (%)0.60% | Change (£)£2,864 |
23 | Barking and Dagenham | January '17£279,600 | January '18£280,718 | Change (%)0.40% | Change (£)£1,118 |
24 | Lewisham | January '17£420,400 | January '18£421,661 | Change (%)0.30% | Change (£)£1,261 |
25 | Waltham Forest | January '17£439,900 | January '18£440,780 | Change (%)0.20% | Change (£)£880 |
26 | Newham | January '17£353,600 | January '18£353,954 | Change (%)0.10% | Change (£)£354 |
27 | Islington | January '17£644,200 | January '18£644,200 | Change (%)0.00% | Change (£)£0 |
28 | Richmond upon Thames | January '17£720,500 | January '18£719,780 | Change (%)-0.10% | Change (£)-£721 |
29 | Sutton | January '17£392,000 | January '18£391,216 | Change (%)-0.20% | Change (£)-£784 |
30 | Barnet | January '17£560,000 | January '18£557,760 | Change (%)-0.40% | Change (£)-£2,240 |
31 | Hammersmith and Fulham | January '17£765,600 | January '18£751,819 | Change (%)-1.80% | Change (£)-£13,781 |
32 | City of London | January '17£781,000 | January '18£747,417 | Change (%)-4.30% | Change (£)-£33,583 |
33 | Kensington and Chelsea | January '17£1,281,400 | January '18£1,205,797 | Change (%)-5.90% | Change (£)-£75,603 |
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