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Media headlines often quote London’s average property price—around £550,000—but this figure conceals enormous variation across boroughs.

For example:

  • Barking & Dagenham: Avg. ~£370,000, with properties available under £150,000 (shared ownership)
  • Knightsbridge: Properties priced up to £80 million

So, while average prices can suggest London is unaffordable, in reality, local markets vary wildly.

LIS Show – MPU

The Land Registry provides the best data on property prices in England, but only in the past, so we need to examine other data to help us understand the current market. 

What does the historic property price tell us about London?

As you can see from the table below, the ‘average property price’ in London regularly quoted by the media is around £550,000, followed by a discussion of how anyone can afford to buy in London. 

The reason people can still afford to buy is that the average is determined by the highest and lowest, and the property average, and as you can see from the information below, average property prices ranged from around £370,000 in Barking and Dagenham to just over £1,118,000. And within the Barking and Dagenham average, properties are available for under £150,000 with shared ownership, but they rise as high as £80,000,000 in Knightsbridge – yes, really, but it does buy you a 5-bedroomed, 9,500 sq.ft penthouse in Knightsbridge with stunning facilities and views!  

Over the last few years, property prices have either fallen or stagnated. That shouldn’t be a surprise; the rapid rises in interest and mortgage rates since 2022 have made affording a property in London difficult. In expensive areas, stamp duty land tax is now so high that it has reduced demand so much that prices have fallen back by double digits. 

Recent price trends reflect the impact of rising interest and mortgage rates since 2022, especially in high-value areas:

  • 8 boroughs saw year-on-year price falls
  • 8 boroughs remained flat
  • Only 10 boroughs outperformed their long-term average (since 2005)

When you look back further to the credit crunch (2007/8), a key property price measure is whether the area has seen property prices grow more than inflation. From 2007/8, inflation rose by 63%. If prices in your area haven’t grown this much, you need to check your property’s price performance to ensure it’s bucking the trend. 

Perhaps surprisingly, there are 14 London Boroughs which have seen property prices rise lower than inflation, which are:

  • City of Westminster
  • Kensington and Chelsea
  • Hammersmith and Fulham
  • Islington
  • Camden
  • Greenwich
  • Wandsworth
  • Barnet
  • Sutton
  • Hackney
  • Lambeth
  • Ealing
  • Hounslow
  • Tower Hamlets

Interestingly, some of these are still experiencing property price falls – especially in prime locations such as Kensington (-15%) and Hammersmith and Fulham  (-13%) 

Why does this matter? Anyone holding property with cash in these areas may think they have secured capital increases, unfortunately, though, in real terms, they have lost money! 

So, which have been the top 5 performing London boroughs for Property price Growth since the credit crunch?


Although year on year the top 5 performing London Boroughs are Redbridge, Havering, Lewisham, Barking and Dagenham and Bromley, over time the top ones are:

  1. Waltham Forest
  2. Kingston upon Thames 
  3. Lewisham 
  4. Bexley 
  5. Greenwich

How to find out more about what’s happening in the London Property Market? 

In this article, I focused on the top 5 performing boroughs in London for Property Price Growth. But, are you keen to know more about what’s happening in the London Property Market? 

Do register for your free ticket to the Landlord Investment Show in London, Old Billingsgate on July 9th and listen to over 50+ experts on the property market, find out about different investment strategies and the latest news on the Renters’ Rights Bill, mortgage rates and tax. Free expert panels and seminars lined up include a Renters’ Rights Bill: Brace for Impact panel, Property Market Economics Update from David Smith, Economics Editor for The Sunday Times, and so much more. See the full lineup of expert panels and seminars here.

Data Tables 

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Kate Faulkner OBE
UK Property Analyst, PropertyChecklists.co.uk

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