Want To Know How Much Property Prices Have Gone Up in London During the Last 20 Years?

June 19, 2017 by

property prices

During the past 20 years, house prices in London have surpassed  those in the rest of the UK. The question is: by how much exactly?

At present, property prices in London are growing at their slowest pace in five years, but the level of capital growth over the past 20 years has been eye-opening.

A fresh analysis of property prices obtained from Land Registry data reveals that market values for homes across all of the London boroughs have gone up by an astounding average of 489% over the last two decades.

The average price for a London home was a mere £107,829 in February 1997. Flash forward two decades and the typical market value of a home is £638,368, which represents a massive increase of £530,539 for the price of a house in the capital.

In the City of Westminster, house prices have surged by an incredible 784% over the past 20 years, making it the fastest-growing borough in London in terms of property values.

Close behind is the east London borough of Hackney, where house prices have gone up by nearly 679%. Homes in Hackney now cost an average of £585,848 (February 2017 figures) and that is many times over what they went for in 1997 – at an average of £75,210.

Portico estate agents regional director Mark Lawrinson said that location is the main consideration when you’re looking to invest in London real estate and profit from capital appreciation.

Mr Lawrinson said that buying in areas that are undergoing regeneration or infrastructure investment tends to result in profitable yields, so repaying mortgages is seldom a problem.

He added that London is a highly resilient city, so for anyone who is buying with a medium to long-term view, their property investment is safe.

 

About CRL

CRL’s specialist team arrange structural defects insurance to protect thousands of new ventures throughout the UK and Ireland.

CRL assist in sourcing fast, flexible cover, arranged by the in-house team who are dedicated to providing the highest quality of customer service.

Anyone engaged in a building project or managing a portfolio of new-build properties that require mortgages, will require a 10-year structural insurance policy on the property. CRL recognises that every opportunity is different, there are no tick boxes and no set criteria – just an appetite for adventure!

To find out how you can start working with CRL and purchase a structural warranty, visit what we cover.

 

 

 

 


You may also be interested in...

  1. Property Developers Join Forces in £100m Project

    A new mixed use development will create over 200 much needed  new homes and extra office space in Watford. Orion Land & Leisure, the London based developer, has agreed a joint venture to transform a 5 acre site into a mixed use property development offering 200 new houses and around 100,000 sq ft of commercial…

    April 27, 2016 by

    crl-logo-only-for-cms Read more
  2. No one takes up Help to buy in Oxford

    New build homes have many benefits for buyers. No messy renovation work needs to be done, you can move straight in without a chain of buyers to worry about and you get to live in a brand new property that no one else has lived in before. With the majority of new homes you’ll also…

    May 6, 2016 by

    builders warranty insurance Read more
  3. ‘Build It Yourself’ Housing Approved for Lewisham by Council

      Lewisham council has approved plans for a housing project that will provide a small group of residents with the opportunity to build their own homes in Ladywell. The aim of the project is to construct 33 high-quality yet sustainable homes on the site in Church Grove where Watergate School was once located. The development…

    November 6, 2015 by

    crl-logo-only-for-cms Read more