A Glance at the London Housing Market

“London, thou art the flower of cities all!”William Dunbar

London is one of the world’s most iconic and exciting cities – and when it comes to living and working, our fair capital is more popular than ever.

The Big Smoke has almost always led the way when it comes to the value and availability of properties, offering a world of choice and availability.

Between 2012 – 2016, London’s property prices grew an average of 9.7% annually, a huge rise indeed. But, this year, reports have shown that property prices have slowed down by 1.2% since 2012. However, despite this drop, the capital’s housing market remains healthy.

In 2016, most property sales in London consisted of flats which went for an average of £518,511. Terraced properties sold in the ballpark of £649,613, while semi-detached properties grabbed £636,817.

According to HomeLet, the overall average rental per month across the capital is £1,524 – a total of £616 of above the current national average.

By its very nature, the capital is always growing, developing and evolving. Of course, property prices across the capital vary, so to give you a little more insight (we’re helpful like that), here is a snapshot in each borough ABC operates in…

Southwark

  • Property price average: £575,314
  • Rental price average: £635 per week

Wandsworth

  • Property price average: £651,513
  • Rental price average: £523 per week

Camden

  • Property price average: £1,085,026
  • Rental price average: £571 per week

Like every other aspect of the city, the London housing market is as exciting and dramatic as it is topsy and turvy.

House prices are always on the move, new developments are shooting up all the time, and the introduction of the Cross Rail is certainly raising the price of properties in places around the capital.

What the London housing market will do tomorrow is anyone’s guess, but let us say this:

London is a fantastic place to live, full of incredible opportunities and amazing characters. It doesn’t matter if you own or rent, live north or south of the river, like rock or jazz, you’re young or old, there’s a place for you here. Long live London and all it has to offer.

If you’re moving in or around the capital and looking for self storage in Camden, Wandsworth self storage or storage in Southwark, get in touch – ABC can help.

 

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