London house prices: The areas of London that saw the biggest price rises and falls in 2020
01-04-2021
One borough saw the average property price drop by almost £10,000 while another saw the average rise by over £85,000
By Ian Molyneaux
One area of London has seen prices rise by 13.4% (Image: Dominic Lipinski/PA Wire)
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.
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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.
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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