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Property prices in London hit new peak

The capital’s housing market is on the rise once again according to the latest figures from the Land Registry.

London Property Investments

The capital’s housing market is on the rise once again according to the latest figures from the Land Registry.

The average property price in London rose to a new record high figure of £493,026 in August, marking a 1.7% increase from July. This increase means that the average house price rose by more than £8,000 this past month and makes it the largest month-on-month increase since July 2014.


The performance of the housing market over August means that the average property price in London is now 6.6% higher than this time last year, an increase of £30,458, according to the Land Registry.


The rise in property values follows the uncertainty that plagued the market at the start of this year in the run up to the General Election. The possibility of Labour’s mansion tax, a hung Parliament or a rise in interest rates from the Bank of England gave purchasers reason to pause.


Since the Conservatives have been elected however, there has been greater confidence in the market, leading to steady increases in the value of UK properties.


In the capital, the biggest movement was seen in Newham, where the value of property increased by 15.5% year-on-year according to the Land Registry figures.

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