Prime property:top ten most expensive boroughs highlight east London's star potential

Latest Land Registry figures reveal the prime property market is stabilising, with Hackney once again showing the highest annual price growth. 

London's most exclusive boroughs are once again showing price growth, according to Land Registry figures. 

Kensington and Chelsea remains the most expensive borough, with an annual rise of 5.7 per cent, taking average house prices in the area, best known for King's Road and the Royal Albert Hall, to just over £1.38 million. 

Hackney's continued growth highlights the continuing eastward shift of London's property market. Bordered by the Olympic borough of Newham to the east and Tower Hamlets to the south-east - where plans for London's tallest new residential skyscraper have just been approved - it had annual price growth of 8.4 per cent, the highest of all the prime boroughs. Hackney's hipster hotspots such as Shoreditch and Dalston remain popular with first-time buyers and second-steppers. 

East London's population is projected to grow by 600,000 over the next 15 years and, with a wave of regeneration already sweeping the area, home buyers and renters are still able to find value despite the price hikes. 

The lowest house price growth was seen in Camden, with an annual increase of just three per cent. 

However, Camden council has unveiled a strategy for the largely ungentrified Euston area, which is tipped to become a super-suburb thanks to the £50 billion HS2 trainline between London and Birmingham and beyond which is due in 2026, so more growth can be expected.


Follow us on Twitter @HomesProperty and Facebook

Comments