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
St John's Wood brings the village atmosphere to the capital
St John’s Wood is a great location for people looking to capitalise on all the benefits of London living without being caught up in all the hustle and bustle.
Read Article ... Published on 26th May, 2015
Yeading: Enjoy peaceful city living in an up-and-coming area
Yeading is a laid-back and peaceful residential area situated north-east of Hayes and is one of the most up-and-coming areas of the capital.
Read Article ... Published on 26th May, 2015
Hanwell: A green, peaceful environment for Londoners
Hanwell is a small town located in the Borough of Ealing and is in between Ealing and Southall, providing excellent transport links to the rest of the capital.
Read Article ... Published on 26th May, 2015
Mitcham Carnival announced for June
Mitcham Carnival has been announced for Saturday June 13th at Three Kings Piece.
Read Article ... Published on 22nd May, 2015
Hammersmith and Fulham Council start Park consultation
Hammersmith and Fulham Council have launched a new consultation on Hammersmith Park, inviting local residents to have their say on the area and how it can be improved.
Read Article ... Published on 22nd May, 2015
New conservation areas planned around Waltham Forest
Waltham Forest has announced plans for two new conservation areas near Lloyd Park and Bakers Arms town centre.
Read Article ... Published on 20th May, 2015
Sutton Council announces Take Part Take Pride summer festival
Sutton Council has announced its Take Part Take Pride summer festival.
Read Article ... Published on 20th May, 2015
Brent Council teams with Brent Housing Partnership in new project
Brent Council has partnered with the Brent Housing Partnership as it aims to improve the standard of housing for local people.
Read Article ... Published on 19th May, 2015
Gardeners prepare for Islington In Bloom
Islington Council is preparing for this year’s “In Bloom” event by teaming up with local gardeners to identify the best greenery available in the area.
Read Article ... Published on 15th May, 2015
New fitness centre set to open in Manor Park
A new fitness centre is expected to be opened in Manor Park by Newham Council.
Read Article ... Published on 15th May, 2015
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.