London house prices fell 4.8 per cent between February 2024 and 2023.Within London’s many property micro-markets there were some interesting trends, with some boroughs even seeing an increase in house prices.But the trendy east London borough of Hackney has bucked the trend with a rise in house prices of 1.3 per cent, the strongest growth in across the entire capital, adding £6,700 to house prices on average.The average house price is now £589,517 in the popular London borough.
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00:00 London house prices are down 5% but one borough has bucked the trend.
00:05 London house prices fell 4.8% between February 2024 and 2023.
00:12 Within London's many property micro-markets, there are some interesting trends,
00:17 with some boroughs even seeing an increase in house prices.
00:21 At borough level, house prices fluctuated between rises of over 1% and drops of more than 20%.
00:28 But the trendy East London borough of Hackney has bucked the trend
00:32 with a rise of house prices of 1.3%, the strongest growth in across the entire capital,
00:39 adding £6,700 to house prices on average.
00:44 The average house price is now £589,517 in the popular London borough.
00:53 Isaac Odegbami, an analyst at Hamptons, said looking back to 2008,
00:58 Hackney is one of the fastest growing places in the capital, if not the country, from a price perspective.
01:05 Prime markets in central London continue to see some of the largest drops in house prices.
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