London property: The area of London where house prices are most similar to where they were 20 years ago but still £200,000 more expensive
12-04-2021
London property: The area of London where house prices are most similar to where they were 20 years ago but still £200,000 more expensive
ByFinn Byrne
Some property prices boomed whilst others didn't increase as fast (Image: PA Wire)
We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time.
London is home to some of the most expensive retail in the whole of the world and house prices have been increasing for years across the boroughs.
Twenty years ago the price that you could buy a house at would seem like peanuts in today’s market but for some areas the cost hasn’t risen as fast as their neighbours in other boroughs.
Now, new data has been revealed by Household Quotes so you have the opportunity to check how much it would cost to buy a house in London, in each area, from the year 2001.
Although some have not risen that fast, the top 9 of the biggest percentage increases all had a price increase, on average, of over 200%.
This means if a house was worth £150,000 back in 2001, it would be worth £400,000 in today’s market.
The top three biggest percentage increases were Waltham Forest, Hackney and The City of London.
Aldi boss issues urgent plea to every single person who shops in the supermarket
However, some areas haven’t been as lucky in their house price fluctuation and haven’t benefited as well from the last twenty years of the property price boom.
Tower Hamlets, Hounslow and Kingston were the unlucky three who saw their house prices increase the least in the last 20 years.
Do you want to stay up to date with the latest news, views, features and opinion from across the city?
MyLondon's brilliant newsletter The 12 is absolutely jam packed with all the latest to keep you keep you entertained, informed and uplifted.
The MyLondon team tells London stories for Londoners. Our journalists cover all the news you need - from City Hall to your local streets, so you'll never miss a moment.
Don't skip a beat and sign up to The 12 newsletter here.
Despite this, their house price did still increase and it was 148, 160 and 164 per cent that they increased in descending order.
London has seen property increase in every borough but those who own a property in the lowest risers might rightly feel hard done.
The data was released by Household Quotes and they announced that London was the best place to buy in the UK in terms of investment and that during the last 20 years housing has continuously been built in the capital.
They have a housing calculator where you can search what your money could have brought you in your area throughout the years, available here
Housing has increased so much that London has built the same amount of houses as double that of Sunderland in two decades.
Housing Quotes released the data and they describe themselves as: “a site on a mission to help homeowners and tenants avoid paying too much for jobs in the home.