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London Property Market - October 2019

1 November 2019

An overview of the London property market as at October 2019.

UK Land Registry dataAugust average priceMonthly change12 month change
England£251,233+0.8%+1.1%
London£472,753-1.3%-1.4%
Kensington and Chelsea£1,289,229-1.4%-9.1%
City of Westminster£914,776-0.4%-6.9%

Commentary

  • Average house prices in England increased by 1.1% in the year to August 2019, up from 0.5% in July 2019.
  • In August 2019, the most expensive area to purchase a property was Kensington and Chelsea, where the average cost was £1.3 million. In contrast, the cheapest area to purchase a property was Burnley, where the average cost was £84,000. 
  • The average property price in Richmond is now £666,848 representing an annual increase of 1.3%.
  • In London, average house prices fell by 1.4% in the year to August 2019, down from a fall of 1.2% in July 2019.

This article is provided by Burlingtons for general information only. It is not intended to be and cannot be relied upon as legal advice or otherwise. If you would like to discuss any of the matters covered in this article, please contact Nicholas Portelli or write to us using the contact form below.

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