London house prices: Biggest rise in Islington, Camden ends 2021 strongly
- Credit: Archant
Islington house prices rose by a higher percentage than any other London borough since the first lockdown, with Camden among those rebounding strongly at the end of 2021.
According to HM Land Registry data analysed by property platform Twindig, compared to average house prices across England as a whole, London’s boroughs lag behind the nation’s increase of 17.8% since March 2020.
When looking at the absolute cost of properties, however, England’s average rise of £33,218 is dwarfed by some of the increases in the capital.
Islington leads the way with a 17.4% hike, meaning that in real terms its house prices have risen by £113,314, to an average of £764,286.
Richmond upon Thames (17.1%/£112,845) and Hammersmith and Fulham (14.7%/£105,512) were the second and third boroughs with the highest rises in percentage terms, and the only others which saw house prices increase by more than £100,000.
Camden, which is the third most-expensive borough in London, came in fifth, with an increase of £67,547, taking it to an average house price of £915,362.
At the other end of the scale, Tower Hamlets (-7.5%/-£35,942) and Hackney (-0.9%/-£5,370) were the only boroughs to witness a drop since the first lockdown.
Looking specifically at data from December 2021, Camden registered the second-highest percentage increase, up 4.2%, only beaten by the City of London’s 8%.
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In terms of actual value increases, Camden came third, up £36,511, behind the City of London with £64,222 and the City of Westminster, with £38,323.
On Camden’s December fortunes, Anthony Codling, CEO of Twindig, said: “Camden continues to be one of the most expensive boroughs in London. Average house prices are only higher in Kensington and Chelsea and the City of Westminster, where overseas investors drive house prices more than the full-time residents.”
House prices in Haringey increased by 8%, up £42,866 to an average of £585,338 since March 2020, making it the 10th most expensive borough in the capital.
Barnet is ranked 12th with an average house price of £578,382. Since the start of lockdown, it rose by 10.8%, which equates to an increase of £56,200.
In 2021, house prices in London went up 5.5%, or £26,953. Across England, the average increase was 10.7%, or £28,368, meaning homes across the country overall have risen more both in relative and absolute terms than those in the capital.