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London property market October 2019

London property market: October 2019 update

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.

Nicholas Portelli is the founder and Director of Hyde Park Residential, a property firm based in central London specialising in sourcing real estate in the UK www.hydeparkresidential.co.uk. If you would like to discuss any aspect of this update with Nicholas, then please contact him at nicholas@hydeparkresidential.co.uk

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