The Real estate property prices and sales are falling in London since its peak in 2015, according to the UK property index report released by Home office statistics.
- The property sales in London have declined by 39% from its 2015 peak levels
- The average property prices in London have also fallen by 18% from its 2015 peak
The Average property prices in England £247,430 England house prices grew by 2.6% in the year to November 2018. In London, average house prices decreased by 0.7% in the year to November 2018.
The Brexit vote happened in June 2016 and UK is scheduled to leave EU on March 29, 2019. Brexit uncertainty and falling value of pound are putting the London property market under pressure. The property prices are expected to fall further with no brexit deal on sights.
In November 2018, the most expensive area to live in was Kensington and Chelsea, where the cost of an average house was £1.3 million. In contrast, the cheapest area to purchase a property was Burnley, where an average house cost £83,000.
In London, the most expensive borough to live in was Kensington and Chelsea, where the cost of an average house was £1.3 million. In contrast, the cheapest borough to purchase a property was Barking and Dagenham, where an average house cost £297,000.
Property prices by London borough
| London borough | November 2018 |
|---|---|
| Barking and Dagenham | £297,180 |
| Barnet | £545,726 |
| Bexley | £341,293 |
| Brent | £460,054 |
| Bromley | £437,796 |
| Camden | £807,240 |
| City of London | £745,429 |
| City of Westminster | £1,003,744 |
| Croydon | £372,981 |
| Ealing | £478,089 |
| Enfield | £394,355 |
| Greenwich | £391,559 |
| Hackney | £553,128 |
| Hammersmith and Fulham | £719,237 |
| Haringey | £550,589 |
| Harrow | £457,966 |
| Havering | £363,874 |
| Hillingdon | £417,556 |
| Hounslow | £399,317 |
| Islington | £650,155 |
| Kensington and Chelsea | £1,289,453 |
| Kingston upon Thames | £483,673 |
| Lambeth | £507,730 |
| Lewisham | £418,211 |
| Merton | £516,189 |
| Newham | £355,346 |
| Redbridge | £434,699 |
| Richmond upon Thames | £645,348 |
| Southwark | £502,563 |
| Sutton | £375,296 |
| Tower Hamlets | £452,912 |
| Waltham Forest | £433,340 |
| Wandsworth | £586,888 |
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