London Property: Postcode Lottery

by Bloomberg News

There’s always more than one strand to the London property story: House prices are falling, but millennials can’t afford homes and London is still seen as a bubble risk. It’s at the local level where some of the shifting stories in the market come to life. Prime properties in the central SW1 postcode have been losing value rapidly since peaking in late 2016. Our analysis of sold prices compiled by the U.K. Land Registry shows that the average price in NW3 – the upscale suburb of Hampstead, in north London – has now overtaken the average in SW1. A similar story is playing out elsewhere. It now costs more to buy in gentrifying Hackney (E8) than in Wandsworth (SW18), one of London’s most leafy residential suburbs.

London real estate at a glance, last updated :

Highest priced sale

Median home price

Change in price from last year

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