Houses In Central London Got 5% Cheaper In Just One Month

London House Prices

Good times for first-time buyers.. sort of.

Houses prices in London are widely considered ‘fucking bonkers’ – but there are signs the market is cooling off a bit.

Analysis from property website Rightmove showed that the average selling price for an Inner London home dropped by a whopping £42,303 between September and August, while prices in Outer London barely budged. That’s even though there’s ‘usually a bounce in the price of property coming to market at the beginning of the autumn’, according to Rightmove.

Sure, the average asking price is still £752,000 – but have hope! Extrapolate out from this month’s trend, and in less than two years, houses will literally be free. Personally, I can’t wait.

Houses in London
Photo: Letizia Bordoni

But there’s another wrinkle to this welcomed plunge – sorry, homeowners! – as declines are mostly concentrated in London’s most wildly unaffordable boroughs. Prices in Kensington & Chelsea crashed by 14% last month, for example, while Camden saw a 7% drop. On the other hand, prices in places like Hackney, Southwark and Ealing actually all increased by 5%, 9% and 4% respectively. As Rightmove put it: ‘The most expensive seven boroughs are all down year-on-year, while the cheapest 12 are all up.’ Oh.

Ready to jump on the housing ladder? Maybe you can afford this 7ft-wide wonder in Hammersmith.

(Visited 29 times, 1 visits today)

Tags:

You May Also Like

8 Ginormous Skyscrapers Coming to London (Sooner Than You Think)

Thought The Shard was big? Well it is, and always will be. However, these 8 new bad boys ...

London Has Been Crowned ‘Best Destination In The World’ For 2019

London has just topped the charts for this year’s best-rated destination in the world in TripAdvisor’s Traveller’s Choice ...

The All-Night Overground Is Extending Services To North London

The Night Overground is branching out to north London. Last December, the Overground starting running through the night at weekends, taking ...

';return t.replace("ID",e)+a}function lazyLoadYoutubeIframe(){var e=document.createElement("iframe"),t="https://www.youtube.com/embed/ID?autoplay=1";t+=0===this.dataset.query.length?'':'&'+this.dataset.query;e.setAttribute("src",t.replace("ID",this.dataset.id)),e.setAttribute("frameborder","0"),e.setAttribute("allowfullscreen","1"),this.parentNode.replaceChild(e,this)}document.addEventListener("DOMContentLoaded",function(){var e,t,a=document.getElementsByClassName("rll-youtube-player");for(t=0;t