London house prices up 1.6pc
first-time buyers looking for a new home in London may be deterred by new figures showing an increase in property prices in London.
Data from the Land Registry for March revealed a 1.6 per cent rise in the cost of buying a house, which goes against the grain of a Nationwide decrease of 0.6 per cent.
In Greater London, the average price of a property stands at £334,409, comfortably above the national figure of £164,288.
Furthermore, the annual increase in house valuations in the capital is 13 per cent, having been under £300,000 at the same stage last year.
This follows figures last month from the National Housing Federation, which revealed many potential buyers expected to wait between five to ten years before being able to afford a home.
News of an above average increase in house prices in the capital may encourage more people to consider looking for property to rent in the London borough of Kingston-upon-Thames, or elsewhere in the city.
By Ben Carter
Published 4th May, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Putney community hall gets £150k refurb
Newlands Hall in Putney Vale, Wandsworth, has reopened after undergoing significant refurbishments.
Read Article ... Published on 18th May, 2012
Harrow cycling and walking routes improved
Extensive improvements have been be made to the cycling and walking routes in Harrow.
Read Article ... Published on 17th May, 2012
Norwood Park gets outdoors gym installed
An outdoor gym has been installed in Norwood Park in an effort to encourage more people to take up exercise.
Read Article ... Published on 16th May, 2012
Brixton to benefit from £75m regeneration
An estate in Brixton is to be improved thanks to a £75 million development project.
Read Article ... Published on 16th May, 2012
Olympic concerts to be held at Hyde Park
A series of Olympic-themed concerts are to be held at Hyde Park.
Read Article ... Published on 15th May, 2012
More people may be encouraged to look for property to rent in the London borough of Kingston-upon-Thames, or elsewhere in the capital, after house price data from the Land Registry showed an increase for those looking to buy in the city.