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Strong Performance for London Property Pre-Lockdown

20 May 2020
Land registry data (UK HPI) March Av.
12 month
England £248,271 -0.1% +2.2%
London £485,794 +1.2% +4.7%
Kensington and Chelsea £1,396,102 +18% +14.6%
City of Westminster £1,085,013 +11% +13.5%

  • In England the March data shows, on average, house prices have fallen by 0.1% since February 2020. The annual price rise of 2.2% takes the average property value to £248,271.
  • Across England, detached houses showed the biggest increase out of all property types, growing by 2.5% in the year to March 2020 to £379,000. 
  • London experienced the greatest annual price rise, up by 4.7% taking the average property value to £485,794.
  • Hackney experienced the largest annual price increase in London with an increase of 15.1% taking the average property price to £638,683.  
  • The average property price in Fulham is now £747,174 representing an annual increase of 4.3%.
  • In March 2020, the most expensive area in London to purchase a property was Kensington and Chelsea, where the average cost was £1.4 million. In contrast, the cheapest area to purchase a property was Barking and Dagenham, where the average price was £327,136. 
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