Property in Waltham Forest continues decline, figures show
House prices continued to fall in a number of London boroughs last month, the latest statistics from the Land Registry have revealed.
According to the body, the value of a home in Waltham Forest is now more than 17 per cent lower than at the same point in 2008, with March alone bringing a 1.4 per cent drop.
Those who have bought property in Walthamstow could be facing the prospect of negative equity as a result, with houses potentially worth less than the amount borrowed to purchase them.
Meanwhile, typical prices in Hackney have dropped 17.5 per cent, which may prompt those thinking of living in the borough to consider flats to rent in Shoreditch.
Nationwide has also released fresh house price data, with figures for April showing a 0.4 per cent dip in values across the UK.
It noted that London is the only region in which the average first-time buyer will have to pay stamp duty, as the typical price is still above the £175,000 threshold.
Written by Andy Britten
Published 30th April, 2009
© 2009 Estates IT Limited
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House prices continued to fall in a number of London boroughs last month, the latest statistics from the Land Registry have revealed.