London's property prices continue to defy the odds and leave people utterly clueless to what will happen next year.
Mortgage and banking giant Halifax has revealed which areas of the UK have seen the highest and lowest property price rises in 2020, with one London borough taking the top spot of the place with the biggest increase in price.
Nine areas in London made the top 20 with Islington at number one, followed by Leeds in Yorkshire in second place.
In London’s Islington district, the average property price jumped 13.4% (£85,918) this year, more than double the average percentage growth in the Greater London area (6%) with an average sale price of £727,922.
This was followed by Croydon which has seen house prices rise by over 10% (10.9%), equivalent to £39,177 – having only risen 1% the previous year
As well as calculating the areas with the biggest profit gains Halifax also singled out the places that are now cheaper to buy or have experienced the smallest increase in prices.
In London six areas saw property either drop in price or rise very little when compared against the rest of the country.
The cost of buying a home in the Hackney area has become £9,843 (1.5%) cheaper, compared to the previous year, making it the second greatest fall in the UK, after Paisley in Scotland.
Areas of London with biggest price rises in 2019/20
1) Islington
- Average house price (2019): £642,004
- Average house price (2020): £727,922
- One year change (£): 85,918
- One year change (%): 13.4%
2) Croydon
- Average house price (2019): £358,361
- Average house price (2020): £397,538
- One year change (£): 39,177
- One year change (%): 10.9%
3) Hounslow
- Average house price (2019): £479,962
- Average house price (2020): £523,659
- One year change (£): 43,697
- One year change (%): 9.1%
4) Romford
- Average house price (2019): £363,265
- Average house price (2020): £391,000
- One year change (£): 27,735
- One year change (%): 7.6%
5) Richmond upon Thames
- Average house price (2019): £709,785
- Average house price (2020): £762,749
- One year change (£): 52,963
- One year change (%): 7.5%
6) Kingston upon Thames
- Average house price (2019): £558,052
- Average house price (2020): £599,317
- One year change (£): 41,265
- One year change (%): 7.4%
7) Lambeth
- Average house price (2019): £578,105
- Average house price (2020): £618,445
- One year change (£): 40,340
- One year change (%): 7.0%
8) Sutton
- Average house price (2019): £438,149
- Average house price (2020): £468,180
- One year change (£): 30,031
- One year change (%): 6.9%
9) Hillingdon
- Average house price (2019): £464,279
- Average house price (2020): £493,671
- One year change (£): 29,392
- One year change (%): 6.3%
Areas of London with biggest falls/smallest rise in 2019/20
1) Hackney
- Average house price (2019): £645,846
- Average house price (2020): £636,002
- One year change (£): -9,843
- One year change (%): -1.5%
2) Merton
- Average house price (2019): £579,896
- Average house price (2020): £576,511
- One year change (£): -3,385
- One year change (%): -0.6%
3) Greenwich
- Average house price (2019): £492,000
- Average house price (2020): £491,102
- One year change (£): -899
- One year change (%): -0.2%
4) Tower Hamlets
- Average house price (2019): £518,444
- Average house price (2020): £520,976
- One year change (£): 2,532
- One year change (%): 0.5%
5) Haringey
- Average house price (2019): £573,443
- Average house price (2020): £592,258
- One year change (£): 18,815
- One year change (%): 3.3%
6) Wandsworth
- Average house price (2019): £680,250
- Average house price (2020): £703,592
- One year change (£): 23,342
- One year change (%): 3.4%
Full list of top 20 areas with largest price increases
- Islington
- Leeds
- Croydon
- Wolverhampton
- Hounslow
- Doncaster
- Inverness
- Bournemouth
- Watford
- Romford
- Grimsby
- Richmond upon Thames
- Kingston upon Thames
- Bolton
- Belfast
- Lambeth
- Sutton
- Newcastle upon Tyne
- Hillingdon
- Edinburgh www.mylondon.news/