Property information can be found all over, Office of National Statistics, Land Registry and Zoopla and Rightmove to name a few places. I tend to like Land Registry as they manage the transactions so are close to the source. As I always follow the local market movements when they update their information each month I thought I would share a quick update.
The trend across the country is positive for house price increase, with England and Wales showing house price increases of 6.7% over the last year. Land Registry shows a Greater London increase of 12%. Hillingdon has shown a stronger improvement of 16.3%, edged out slightly by Harrow with a 17.1% increase. However we are ahead of the South East (excluding London) which has increased in value by 9.4% over the last year.
A year can be a long time in Property Prices are values still increasing locally?
The answer to that is yes. Hillingdon house prices increased by 1.3% in January, against a background across Greater London of a decline of 0.2%. Sharpest fallers include Kensington and Chelsea by 1.9%, where the average property price of £1.3 million will have been battered by the change in Stamp Duty, whereas in outer London this change will have reduced costs as the average price is below £500,000, the point at which the SDLT changes stop being beneficial for buyers.
With the last house price volume data in November, it’s interesting to note that Hillingdon accounted for 0.47% of total England and Wales house price sales compared to the average in 2014 of 0.38%. Further evidence for me that the Hillingdon property market remains strong.
