PropertyInvesting.net: property investment ideas, advice, insights, trends
Propertyinvesting.net: Property Investment ideas, advice, insights, trends

PropertyInvesting.net: Property Investment News

 Property News

more news articles...

House prices in Hillingdon are the fastest growing in London


04-01-2016

The average price of a house in the borough has soared to almost £400,000, nearly 20% higher than 12 months ago

 
Hillingdon borough's house prices are quickly rising

Hillingdon borough's house prices are the fastest growing in London, as the average house value has almost reached a whopping £400,000.

Prices in the area were 17.1% higher at the end of February than a year earlier, having risen by 1.4% in a month.

Overall, the rise was the third highest in the whole of England and Wales, with the average price in the area now at £391,728.

Hillingdon's rapid price rise was beaten only by Slough, Berkshire, which increased by 19% and has an average price of £236,023 and Thurrock, Essex, which increased by 17.% and has an average price of £194, 207.

In nearby Hounslow, prices were 13.6% higher than the same point in 2015, although prices fell by 0.5% in February, with an average price of £409,062.

Harrow saw an annual increase of 11.7%, with an average price of £425,111, and Brent saw prices rise 11.2% to an average of £478,285.

Hammersmith and Fulham recorded one of the biggest monthly rises, up 2.2% in February.

Hillingdon's growth rate is almost three times the average national rise in house prices, which was 6.1% in the year to February, which takes the average property value in England and Wales to £190,275.

London experienced the greatest increase in its average property value over the last 12 months with a movement of 13.5%.

Less repossessions but bad news for renters

On a national scale, the number of properties sold in England and Wales for more than £1 million increased by 2% to 1,077 from 1,052 a year earlier.

Repossessions in England and Wales fell by 50% to 356 compared with 706 in December 2014.

London comes out on top again as it is the region with the greatest fall in the number of repossession sales, dropping by 67% from December 2014.

But it is bad news for private renters as rental prices increased in all English regions over the year to February 2016, with rental prices increasing the most in London at 3.8%.

The fastest rising house prices in west London:

Borough Monthly change (%) Annual change (%) Average price (£)
Hillingdon 1.4 17.1 391,728
Hounslow -0.5 13.6 409,062
Harrow 1.0 11.7 425,111
Brent 0.4 11.2 478,285
Hammersmith and Fulham 2.2 7.3 846,355
Westminster 0.3 6.7 1,057,034
Ealing 0.2 6.7 494,437
Kensington and Chelsea -0.1 5.6 1,396,753

www.getwestlondon.co.uk

back to top

Site Map | Privacy Policy | Terms & Conditions | Contact Us | ©2018 PropertyInvesting.net